Currently, there are many bankrupt, debt-heavy people who have to hide elsewhere when borrowing black credit. However, there are still some cases of falling into this trap of “high interest” loans due to lack of understanding and gullibility. The following article, Lamchutaichinh.vn will reveal to you the how to get rid of bad credit when unlucky you get stuck!
Table of Contents
What is black credit?
Black credit is a form of “hot” loan with interest rates many times higher than those specified by an individual or an organization. More specifically, when customers borrow money at these units, they will be charged very high interest and the amount to be paid will increase by 2, 3 or even a few dozen times more than the principal.
The phrase “black credit” is a general term for bad credit, bad credit. People add the word “black” before the phrase “credit to indicate negative effects on human interests.
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If “white credit” – a type of credit with transparency, legality and legality to protect the interests of both borrowers and lenders, then black credit is completely outlawed. Black credit is an illegal type of credit.
Currently, black credit is provided by gangster organizations or financial companies or certain individuals. Others are by illegal organizations hiding under disguised organizations, apps, and online hot loan websites. Many borrowers have been in big trouble and do not know how to get rid of bad credit, so they have to suffer many serious consequences.
Therefore, you should not participate in black credit loans to avoid unnecessary risks.
How are black credits different from unsecured loans?
The difference between black credit loans and unsecured loans will be summarized by Lamchutaichinh.vn in the following table:
|The difference||Bank unsecured loan||Borrow money from gangsters|
|Procedure||-Follow the financial company’s procedures.|
– Loan documents must be appraised before being disbursed.
|-Simple, fast, no need to mortgage assets or prove income.|
-Disbursement quickly, instantly or in just a few hours.
|Interest rate||-Prescribed by state.|
-Depends on the credit score of the borrower.
|-Very high (about 100-360%/year).|
-Depends on the lender (credit holder).
|Forms of debt payment and debt recovery||Pay by cash or by bank transfer.|
-No threats or personal attacks.
|-Pay in cash or via bank transfer.|
-There is a threat or personal attack, even “physical impact” on the customer.
|Legal||Highly legal||No legality|
How to recognize black credit by lending via app/web?
Instead of finding how to get rid of black credit, You should learn the distinguishing features of this type of loan. Usually, the lender is the app, the web will be more difficult to recognize than the gangster. Some signs to recognize black credit are:
- Lending is a business form that requires a license, but the lender (individual, organization) does not have a license to operate a loan;
- The interest rate on the loan is 50% or 100%, some interest is calculated on a daily basis;
- Extremely fast disbursement in just 30 minutes without meeting, no appraisal of documents, no mortgage;
- Borrowing money without a contract, but only through verbal communication or just needing an ID card and household registration is possible.
What are the consequences of borrowing black credit?
There are many people who are miserable looking for everything how to get rid of bad credit without careful consideration of the huge consequences that can occur.
If you are intending to take out a loan with black credit, please see the following consequences to avoid!
“Exorbitant” interest rates
Black credit is a form of lending that is not controlled by the law, so the borrower’s interests are not protected. Black credit interest rates so far have not had any specific regulations.
Some places lend at 100% interest or charge daily interest rates or even exceed 150% of the basic interest rate of state banks.
The longer the period of non-payment, the higher the interest rate. At that time, “parental interest” makes you unable to pay the lender.
High consulting fees
Normally, when customers borrow money at loan apps, they will be charged a consultation fee. This fee is not too high and is completely suitable for the borrower. Some reputable financial institutions and apps do not even charge a consultation fee when borrowing money.
But for black credit institutions, consulting fees are extremely expensive. This greatly increases your debt burden.
Loan lacks transparency
Loans at black credit are often not transparent and clear. Some lenders rely only on words to “fix” the loan, so the amount is not transparent.
Later, the lender can take advantage of this to increase the loan amount or charge a higher interest rate. Since there is no supporting loan document, you are required to pay the amount demanded by the lender both principal and interest.
Forms of black credit debt collection
Borrowers of black credit will be threatened by terrorist threats to release images to damage honor, dignity, beat, etc., affecting the lives and lives of the borrowers and their loved ones. around.
The debt collection method of the black credit loan package is very complicated and dangerous. You should know the ways of debt collection to know about its dangers.
- Texting and calling you regularly for debt collection from gentle to threatening.
- Calling with high frequency several dozen times a day, even calling relatives to remind.
- Going door-to-door to threaten, kidnap, beat or destroy property.
- Pretending to be police, government agencies come to collect debts.
- Post pictures of you and your loved ones on social media to smear your honor.
How to get rid of bad credit?
When entangled in black credit debts, many people are sure to find how to get rid of bad credit. But really, when you stick to these “bloody” subjects, it’s hard for you to get out.
It can be said that the best way to get rid of bad credit is to quickly pay off your debt and pay it on time so as not to be charged high interest. Because carrying black credit institutions always have the protection of the gangsters and they can do whatever it takes to get money.
Even if you report to the police, you cannot escape these units completely. At the same time, you may also be avenged by these units
Thanks to the law
If when you are threatened, intimidated or even used by a black credit party, you can seek the advice of lawyers or seek help and protection of the Law.
Currently, there are many law firms that have stood out to protect and give free legal advice to unfortunate victims who fall into the trap of black credit.
If you ask a lawyer to negotiate a reconciliation with the black credit party, the problem will probably be solved by the black credit lender lending with a very high interest rate – which is a violation of the law, so they are also afraid and may have to worry about it. the attitude to avoid the law as much as possible, so if the conditions are right, the agreement can be successful.
But if you still can’t come to an agreement, you can choose to report the illegal behavior of the black credit party to the law.
As long as the borrower has the courage to denounce, collect all evidences such as: photos and videos of the lender threatening and terrorizing the borrower, even though asking a lawyer to negotiate to pay the principal and interest If the interest rate is lower than the level set by the creditor, but still being refused, threatened, beaten, and collected in a gangster style, the borrower can be completely safe.
Thanks to relatives
One of the ways get rid of black credit If unfortunately resorting to the Law, but also can not escape from the “usury” that is thanks to family members, friends to lend money to pay the debt. If it has been resolved, then never again borrow money from a black credit party, try to do business honestly, work hard or take a bank loan instead of choosing an unsafe loan method like black credit.
Hiding somewhere else
Many people because of their inability to pay their debts, as well as being unable to borrow from any relatives or friends or borrow from reputable financial parties, fearing not to report the law, they choose to choose the right way. flee to a faraway place to be sure to stay away from the creditor and the creditor cannot be found to avoid debt collection.
Here are some specific tips for those looking to get out of bad credit:
- If you have a lot of debt, you should pay off the loans with the highest interest rates that will greatly reduce the amount of monthly interest you pay.
- Need to call or ask to meet the lenders directly to negotiate.
- Collect criminal evidence of the black credit union and send it to the police.
- Power off phones and do not answer or pick up debt collectors.
- Leaving the area where you live to avoid debt collection
Should we report black credit loans to the police?
Actually, when you report to the police about a black credit loan, it is also very difficult to solve. Because the police also have no evidence to conduct an investigation. Only when these subjects cause serious consequences can they intervene.
If you make a file and send it to the police, the chances of it being processed are also very low. And there have been many people who have submitted complaints but have not been resolved.
In addition, when you report to the police, then these lenders, if they know, will take revenge, endangering the lives of you and your loved ones. However, you still SHOULD report to the police to solve the problem if it is dangerous.
Report black credit through any hotline?
Normally, to denounce black credit loans, many people will find hotlines to denounce apps.
You can also find police hotlines to file complaints. However, this can be very difficult.
When you want the police to get involved, you must have proof that the black credit side has caused serious consequences. However, if you feel that your spirit and life are in serious danger, call the police. The force of black credit is very large, so you should choose to report to the police instead of looking for an individual to help.
The experience of borrowing money online to avoid black credit needs to be remembered
- You need to know your loan experience so you don’t need to find a way out of your bad credit.
- When borrowing money, you need to find a reputable unit that has been granted a loan license. At the same time, you need to check that the information on the loan documents is also transparent to ensure credibility.
- When borrowing money, you need to be sure that you need to borrow money at the interest rate and consider your ability to repay the debt.
- Be wary of loan advertisements posted on power poles or in public places.
In the above article, Lamchutaichinh.vn has revealed to you the how to get rid of bad credit, usury. Hope the above information will help you to know the consequences that black credit brings to prevent risks!
The article was edited by: Lamchutaichinh.vn