Borrowing 4 million online, having to pay more than 70 million, a young man in Nghe An is 'miserable' in debt
(Baonghean.vn) - Because he urgently needed a sum of money, and found the procedure simple and quick, T. borrowed money through an online application. However, this young man was later shocked to find that the amount he had to pay was dozens of times the original amount in just a short period of time... When he was unable to pay, T. was asked to pay the debt and threatened in a "gangster" style.
On February 17, 2020, Mr. TVT (born in 1992), residing in Nam Hung commune, Nam Dan district, went to the Nam Dan district police headquarters to report the incident: In the past, because he had borrowed money from money lending applications (apps) on his phone, and now he was unable to pay, he was constantly threatened and terrorized by strangers, mentally terrorizing himself and his family. A series of "gangster"-style debt collection messages were continuously sent, too scared, Mr. T. had to temporarily close Zalo, Facebook, and money lending apps and go to the police station to report.
Accordingly, in mid-2019, due to urgent need for money, Mr. T. chose to borrow 4 million VND within 14 days. However, in reality, Mr. T.'s account only received 2.2 million VND, the remaining amount was called service fee. After 14 days, he was not able to pay off the loan, Mr. TVT was continuously called to threaten, curse, forced to pay off the debt, and forced to use another application to continue borrowing money to pay off the debt. In the new application, Mr. TVT borrowed 2 million VND but in reality received 1 million VND and had to pay within 7 days.
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The amount of money Mr. TVT borrowed through phone apps and the actual amount received. Photo: Bao Nguyen |
After 7 days, Mr. TVT could not pay off all his debts, so he continued to borrow from many other applications such as: Doctor Dong, Vvay, F458, De Vay, M88, F168, Vi Ban, Kho Vay, Tamax... to get money for the application later, and pay the application first. Just like that, the new debt piled up on the old debt, interest on interest... causing the amount Mr. T. had to pay to be many times the original debt.
By the time he reported to the authorities, the total amount of money that Mr. TVT had borrowed was more than 70 million VND, but in reality he had only received more than 45 million VND and the amount that had to be paid was nearly 200 million VND. During the time he could not pay the debt, Mr. TVT and his family and friends were constantly receiving phone calls and threats to their lives; the image of Mr. T. and his family was also framed to defame and insult their honor and dignity.
The case of Mr. TVT in Nam Dan is one of the victims of borrowing money through online loan apps. Nam Dan District Police warned that the form of lending money through online applications is a new, sophisticated, and transformed form of the crime of "black credit", which is circumventing the law to operate, using technology to lure borrowers and lend money, transforming into usury.
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Type the keyword "online loan", the search engine has given many results. |
With the advantages of being fast, simple, low interest rates, advertised widely on social networks, youtube, ... targeting the psychology of people who need money urgently with not too large amounts, these applications easily deceive borrowers with advertisements that are far from reality after borrowing. When the loan amount and interest rate are large, the borrower cannot repay the debt, they will be threatened by phone calls, have their photos posted online with edited content as fraud, relatives will be mentally terrorized ...
Therefore, with the increasingly sophisticated tricks and variations of "black credit" crimes, each citizen needs to be cautious and carefully consider using this app and website loan service to avoid falling into a "debt spiral". When facing financial difficulties, people should seek advice and support from reputable local banks for loans.
