Wangtian Installment is a scam, and online loans/installments are all usury.

P2P online lending, also known as online lending, refers to direct lending between individuals through the Internet platform. It is a subcategory within the Internet Finance (ITFIN) industry. The number of online lending platforms has grown rapidly in China in 2012. So far, there are about 350 active ones, and the total number as of the end of April 2015 was 3,054.

The dangers of online lending are as follows:

1. The rates of some online lending platforms are unclearly marked, and there is a certain degree of concealment in terms of handling fees, overdue fees, liquidated damages, etc. This may tightly lock students with loans. Once repayments are overdue, college students may be unable to bear the loss of funds, resulting in a credit crisis of excessive consumption.

2. Since the threshold for online loan installment consumption is very low, it provides college students with a platform for advanced consumption and luxury consumption. However, many college students are in debt due to impulsive consumption, which brings trouble to their normal studies.

3. Once overdue repayment occurs, it will affect the personal credit of college students in the bank. Once there is a stain on your personal credit, when you enter society in the future, whether you apply for a credit card or apply for a loan, you will have to pay a higher cost than others and may even be rejected because of it. In addition, once something goes wrong with these small online loan companies, there is also a risk of leakage of private information such as student ID cards and ID cards of college students.