Nowadays, I don’t want to borrow money from you anymore. With the spread of online money loan applications, with just Good Credit capital someone can already get a loan. The process is also fairly fast. On average, it only takes one week for funds to be disbursed. In fact, not a few online loans disburse funds in a matter of hours.
If you apply for a loan at a bank
You must complete a number of document requirements such as Good Credit, salary slip, NPWP, credit card records, to a photocopy of a passbook. Then, the process itself can take up to two weeks. As a result, more and more people are glancing at various providers of online money lending services.
But, with a number of conveniences offered by online money lending services, there is a high risk that must be borne by the borrower.
One of them is a high flower trap. In official institutions such as banks to cooperatives, the average rate of non-collateral loans starts from 1-3 percent per month. While for online money loans, the interest is around 1 percent per day or 30 percent per month. How different is the amount of interest?
The Financial Services Authority (OJK) as the official financial services industry supervisory agency sets a number of policies so that the financial technology (Good Finance) company, including online loan providers, does not act arbitrarily and remains safe. Only Good Finance that complies with OJK rules has the right to operate.
But, the name is to meet urgent needs, many people tend to be desperate to borrow at online loan providers that are not registered with OJK. In principle, the important thing is getting a loan fast. Concerning interest, even though it is large, the latter business.
Well, if that’s the case, get ready to face the consequences, which of course are uncomfortable. Those who are “frustrated” using loan services that are not on the OJK list, must be prepared to be exposed to the following risks.
Get caught up with moneylenders online
To borrow from a bank, there are indeed many requirements that must be needed. But, these rules are not without reason. In fact, indirectly, these rules can be protection for ourselves as borrowers.
The bank needs to analyze and ascertain whether we as debtors can afford to pay or vice versa, the potential for default in the middle of the road. If it turns out we have not yet qualified as a debtor, it may indeed be very risky to borrow money with a certain nominal with the current financial condition.
Meanwhile, if you borrow Good Credit capital money as offered by many online money lending services, chances are, your loan application is liquid easily. But, if it turns out you can not pay in installments in the middle of the road, so just get ready to be burdened by the debt interest to swell.
Debt payment reports are not transparent
If it is not thorough, it is not impossible for borrowers to be deceived by these online moneylender calculations. During the bidding process, various sweet promises were given. From low-interest offers to liquid loan guarantees within a few hours.
After the victim enters a trap, you may be asked for a nominal installment without the transparency of your debt calculations. Debtors who are “lazy” are complicated, usually unwilling to bother. They assume the important thing is to pay the installments. In fact, without realizing it, they could suffer huge losses.
Misuse of personal data
Unlike banks that guarantee the confidentiality of their customers’ data, there is no security guarantee from online loan providers that are not registered with the OJK. One of the data that is prone to be misused is an emergency contact.
Usually, this emergency contact will be “terrorized” when the debtor is in arrears. Personal data can also be sold or used for unlawful purposes.
Trapped bulging investment
Apart from being a moneylender, online loan services also allow customers to become investors who act as lenders. But, do not ever take the risk to be an investor in services that are not registered with the FSA.
Not only does it not make a profit, but the invested funds can also disappear without a trace. If that is the case, you cannot hold the OJK to account. Oh no!
The reasons for canceling the registered marks of each of the companies above vary. However, in general, the OJK states, with the cancellation of the registered mark, all five must stop all borrowing and borrowing activities based on information technology-based technology, resolve user rights and obligations, and are prohibited from including the OJK logo and statement registered and supervised by OJK in all its activities.