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whether you pay late or not Online loans are also risky. So you have to be smart to use it.

In fact, online loans are one of the technological advancements available if you really need them. No need to go through the process of applying for a loan directly. Just fill out the form and direct support information. onlineYou can withdraw the loan if approved.

This online loan is very useful for those who need funds in a short period of time and it really works. Just have an ID card You can get liquid money quickly.

However, there are some considerations you should keep in mind before actually submitting. So what are these risks?

Risks to Consider Before Online Loans

Before deciding to borrow money online This is a risk you need to pay attention to.

1. Interest risk continues to grow

The first risk you have to accept from an online loan is interest that continues to grow. In fact, this lending institution has its own rules on the amount of interest so that it doesn’t become a burden, up to 0.4% per day. The percentage is increasing steadily.

For example, you choose to apply for a loan with a 1-month loan, meaning that 0.4% interest must be multiplied by 30 days and you end up paying 12% interest on repayment. which is very good A lot because it’s more than 10% of your loan.

to overcome this Don’t forget to apply for a loan at . only borrow with low interest.

2. Information Security Risk

When you identify yourself when applying for a loan online This means that you accept the risk that your information may be easily shared and KTP has been misused by irresponsible credit institutions..

Even if the information is leaked But it had a very serious impact. This information can be used as a term of abuse, from applying for a loan with your credentials or executing a collection even if you’ve paid off your debt. The biggest risk is your identity. You may also be defrauded to drain your account.

3. Management fee risk

not only interest You also bear the risk of paying management fees. Usually when liquid funds are deducted a few percent to pay this management fee. This is so that the credit service providers can continue to operate.

This handling fee also includes late fees if you make late payments. And the amount of this fine may be greater than the interest as it is set by the company. P2P companies are aware of these risks from the start.

4. Risk of not being transparent

because it is onlineThere is a certain imbalance in the information that sometimes makes the debtor not know why the loan balance has suddenly increased. or for example Interest has suddenly risen. In fact, online loans often lack transparency towards debtors.

as a debtor You have to be observant and critical. Always ask if there is a new policy or if your loan amount has suddenly changed. Because if you don’t do it, you will only hurt yourself.

usually, Official online loan from the government. It is more transparent than the private sector.

5. Low credit ceiling risk

Not many people know that you can’t apply for a loan that is too large with an online loan. Because online loans usually have a small loan ceiling.

This is because the purpose of the loan is not to buy large assets or do business. but only to meet your needs in a short time. Therefore, only the ceiling is small, it can be melted with a faster process.

Risks When You Can’t Pay Off Your Loan Online

It’s not just the risk to consider when you want to apply for a loan online. You also need to be mindful of the risk of not being able to pay off your loan online. This is a risk when you cannot pay off your loan online.

1. Fines that accumulate over time

When you can’t pay off your loan online for just one day You will be fined by the P2P organizer. The company determines the amount of the fine and may even be more than the interest.

The more you pay late You will have to pay more fines until payment is made. No kidding, even late calculations are made each day you late pay.

Therefore, unless you have to pay the loan principal plus interest. You also have to pay cumulative penalties, not getting lighter, but eventually the amount of your loan will increase.

2. Disturbing bills made

If you can’t pay The risk you face is being charged in different ways. Especially if you are applying for a loan with an illegal online loan application. debt collection will continue to charge you For example, call every hour or call the number of the person you are guaranteed.

Of course, this will greatly interfere with your daily activities because debt collection We will try to contact you back until we receive the item and pay in installments. So consider this before applying for an online loan.

3. Enter the blacklist

If you can’t pay your loan online You will be dealing with the system at OJK, especially if the platform or application you are using is an officially registered application under the auspices of the Financial Services Authority (OJK).

Then you create a default that tarnishes your name. with registered information You will be reported to OJK as having bad credit. After that you will be put on the blacklist. So that one day you can no longer borrow money.

Blacklisting is not easy because you are marked on OJK Slick that you have a loan case Even if it’s just an online loan. the effect will be lasting So you can’t borrow money anywhere. including mortgages or car loans

4. Get Legal Punishment

Finally, the risk if Escape without paying online loans is that you have to deal with the law Although in Article 19 paragraph 2 of Law No. 39 of 1999 on human rights there is a guarantee that a person cannot be convicted because he is incapable of fulfilling his obligations in a debt contract.

However, P2P companies can bring this default case to civil law. Therefore, you are still responsible for your mistakes in view of the law. You must attend hearings and court cases.

This is an online credit risk that prospective debtors need to pay attention to. Make sure before applying for a loan. You understand the above because you must be ready to bear all the risks if you actually apply for a loan. This risk involves using an online credit application. Be alert and careful!

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