As a middle-aged man in his forties, I did not live as I wanted, but was deeply trapped in the quagmire of online loans, and my debt was as high as more than 200,000. However, this money is not used for family mortgages, car loans, children's education and living expenses, nor is it for me to spend extravagantly on high consumption. It was this experience that made me see people's hearts clearly and deeply realize my own problems.
As my debt grew, my meager salary was not enough to support my repayments, forcing me to confess to my family and ask for help.
I hope that with my story, I will sound the alarm for friends who are ready to step into the ranks of online loans. I also hope that after paying off the loan, I will see this experience as a valuable lesson in my life.
Looking back at the cause of the debt, it was not actually caused by the purchase of luxury goods, high consumption to save face, nor because of difficulties, let alone the difficult period of the epidemic in the past three years. It's because of his stupidity, he was deceived by his friends but didn't know it, and he didn't recognize the truth until he was in prison.
In June 2020, my best friend called ** to borrow money from me, because I had lost money in business with my friends before, which exposed my shortcomings in financial management, and my husband was in charge of the family's money later. Coupled with the epidemic, at that time, I only had an income of 1,500 a month, and most of the family's expenses depended on my husband, and I didn't have any savings at all, so I rejected my girlfriend.
The next day, my best friend called me again, telling me that she didn't borrow the money, but her colleague asked her to borrow money, and the money was borrowed for a month, and she would give interest, and she wanted to earn this interest money. She knew that I had a low salary and no savings, so why did she ask me to borrow it, because she wanted to take me to earn some interest.
At that time, she told me that we could swipe our credit card and borrow some online, with a low interest rate of about 10,000 and a high interest of 10,000. Her colleague will give 500 yuan of interest for 20,000 yuan, calculated according to the loan interest of 10,000 yuan, deducting 300 loan interest, borrowing 20,000 yuan can earn 200, her colleague wants to ask her to borrow 140,000 yuan, and earn 1,400 a month.
At that time, 1400 was equivalent to almost a month's salary for me with a monthly salary of 1500, but I didn't have the urge to borrow it at that time. I don't know if this behavior is legal, I don't know her colleagues, and I don't know if the money can be returned. I was afraid that my best friend would be fooled, so I persuaded her not to borrow it.
I asked her, your colleague needs money, why don't you take out an online loan? Looking for you to borrow money. She said that her colleague wants to buy a house, but the loan credit cannot be borrowed, and she needs to borrow it, and she wants to make up the money to repay it first, and when he buys a house here, the money will be given to us in a month.
Her colleague borrowed 70,000 yuan, and there were other platforms, and then borrowed from it. She said that she asked her mother to borrow 30,000 yuan, and she could borrow 50,000 yuan, and she was still 70,000 yuan, and asked me if I could make up for it.
I asked her, if your colleague is reliable, you can lend him money, and I want you to ask your friend to borrow it, don't run away with the money. And is it legal? She told me that she was reliable, and that colleague was also a good friend of hers, and the other party had also invested in their early education center, and people couldn't run.
My girlfriend is in a large chain of early education centers, and I know that their center has launched a stake this year. She also said that this matter of borrowing interest is because everyone is not borrowing in cash, so they need to borrow online loans separately, deduct the interest on online loans, and the rest is considered favors.
To be honest, I was also a little excited at that stage, and I felt that I could make money without too much effort, and if it was reliable, it wouldn't be beautiful. Now I think back to that time, I really want to give myself two slaps in the face.
My best friend's repeated persuasion and assurances still moved me to borrow 40,000 yuan from a platform with an interest rate of 10,000 yuan and 30,000 yuan from a platform with a million 50,000 yuan. I was waiting for half a month's salary to be earned, but my girlfriend told me that the money would have to be used for another month.
At that time, I didn't realize the seriousness of the problem, and when I was faced with an online loan every month, I had to make endless reminders to my girlfriend. Do you say her colleague doesn't pay it back? No, people are also repaying the loan, but from the promised monthly repayment, to only three or five thousand in a few months.
At that time, because I owed 70,000 yuan for an online loan, I could only repay it with my best friend, I told my best friend to let her sue the other party for not repaying the loan, and I also saw a lot of debt collection methods on the Internet, but my best friend didn't carry it out, but she urged the other party when I urged her every month.
At the beginning of 23, due to my frequent borrowing and facing a credit crisis, my online loan platform was shut down, and I could only borrow online loans, so I had no choice but to apply for installments. As my credit card and online loans became more and more unable to repay, I could only keep urging my girlfriend to ask for money, that is, this year, my girlfriend returned the money that the other party owed me one after another.
It wasn't until the end of '23 that the other party paid off the money owed to me, and I realized that something was wrong. He owed me 70,000 yuan and repaid me 70,000 plus interest, but my debt did not decrease, but was as high as more than 200,000.
After my girlfriend settled the money for me, I asked her to borrow money when I needed to repay my credit card and online loan again, and she began to shirk it, no money, no borrowing, and so on. I couldn't help it, so I started asking my friends around me to borrow money, and I was able to borrow a circle.
Since that day, I have never contacted this girlfriend again, and my friend said to me, who is this girlfriend of yours? I'm going to drag you down when I'm stuck in the quagmire, so don't play with her. Later, I was thinking that she would rather see me struggling to repay the loan every day than urge her colleagues to have any psychology.
Fortunately, because my usual reputation is not bad, a few friends lent me a little bit, but the money was only enough to last for two months. I looked online at a variety of online loan solutions, negotiations, overdues, etc.
A friend who lent me money told me that it would not work like this, the longer it drags on, the higher the interest, and you earn some money every month to repay the interest, tell the family to see if I can help you, even if you can't help, if you have a collection ** to the family after you are overdue, the family also has a psychological preparation, so as not to suddenly know the outbreak of family conflicts.
I thought about it for a long time, I was so anxious that I couldn't sleep every day, and I saw that the day of repayment was getting closer and closer, so I confessed to my husband first. I thought I would be reprimanded, but my husband just patiently asked me the reason for the debt and helped me analyze how my debt accumulated to more than 200,000.
1. The arrears are too long, up to three years.
2. If we don't repay for a long time, when the two of us replace each other, the interest will be superimposed to support the loan.
3. Because there is no cash flow, I rely on online loans to borrow and repay, and the interest on the day is also superimposing. But the money that the other party pays back to us is fixed. We are using our own money to repay the interest for others, but the principal is always there.
4. The income of the epidemic has been too low for three years, the credit card limit has increased, and the use of credit cards has advanced consumption.
The old fair and peaceful attitude slowed down my psychological pressure a little, but it was not relieved. Next, my husband talked to me about how to solve the debt. First of all, if you don't want to step into the overdue ranks, the first problem we have to solve is the credit card, take the initiative to communicate with the bank, stop the interest on the card and repay it slowly for a long time, and he will help me pay back two-thirds.
Secondly, on the issue of online loans, he will take out 50,000 yuan from his deposits, repay part of it first, and the most important thing is to increase his income, and he will also do a part-time job to accompany me through this difficult period, and I myself must be prepared, and the two of them should try their best not to let the online loan overdue to harass the family.
Listening to my husband's words, my tears also fell, and I was really glad that my other half tolerated me.
I've been looking at recruitment apps lately and looking for part-time jobs. I'm going to try to raise my monthly income to 5,000 and try to pay off my debts in at least two years. I don't have to let my husband and children suffer with me, I believe that these will be achieved with our efforts.