The online loan hole I’m in.

In the middle of October, I consider to do net lending related topics, into a few net lending overdue WeChat group, every new into a group, the first scene shocking, group remind me that the people involved in group chat, each person’s name are listed with gray words, I see the scene is so, the whole mobile phone screen full of “mandatory”, “overdue” these key words, because they will change their group name to “someone Liu – Guangzhou – 220,000 – mandatory in”, or “small Zhang – Jiangxi – 46w – full overdue – has confessed”, a group owes millions of money.

The most important thing to do is to make sure that you’re aware of the fact that you’re going to be able to get a good deal more than you need to. Very difficult. Once you step over this step, in many cases, the psychological pressure will reduce a lot.

The person who pulled me into the group is called Gia, his name in the group is “Gia – Foshan – 30w – personal business – compulsory in”, compulsory in means, compulsory onshore, first no Pay back the money, live with it first, and the hole will be filled slowly. According to Gia’s observation, there are generally three kinds of overdue online loans, one is overspending, one is gambling, and one is because of some scam. He himself is considered one of the outliers, he opened a small advertising printing company, because of the epidemic, no business in the second half of the year, after the loss of income, for capital turnover of the loan can not be paid, one after another overdue, until one day, he found that the loan can not lend money.

Gia was born in Inner Mongolia, “after 85”, is a Daur ethnic group, now living in Foshan, Guangdong Province, advertising and printing business. We talked on the phone and through WeChat several times, and at the end of one of our conversations, Gia asked, “Barge Jing, can you replace my name in your article with Gia, which means good fortune and a bright future in our Daur language? “.

Here’s Gia’s account

be behind in doing sth.

Since September of this year, I have been overdue on 6 online lending platforms, adding up to over 60,000, and 200,000 in credit card debt, in addition to loans from suppliers and friends, adding up to a total of 320,000, and still have no money to fill the hole.

At first I engaged in some credit card turnover, engaged in 200,000, and now has returned tens of thousands. Then I started to engage in online lending. The first online lending platform I used, the highest limit was 20,000, now there is no limit, can not lend. At present, I have borrowed from a total of 6 places, all of which are big internet platforms, in fact every unexpected platform you can think of is offering loans.

It’s hard to go back when you want to keep jerking (online lending). Obsessed with the lack of money, you want to go around getting money. And do not consider their ability to repay, I just want to quickly plug the hole in front of the first, over today do not want tomorrow. This online lending thing is addictive because it’s so easy to come by and there’s no psychological burden like borrowing money from a friend. If it wasn’t for the fact that I wouldn’t be able to get a line of credit later, I’m sure I would have borrowed more and gotten deeper and deeper into the hole. This year, the more people lend online, the more they lend, and some of them are using the money from the next loan to pay off the last one, and the hole is getting bigger and bigger.

The business is not good that time, I like the devil, always try to find ways to find money, see the net lending ads on the point, in the mobile phone application store to see reviews still passable platform, to download, apply. This get to September of this year, found that the money chain broke and began to overdue. The first is ants, then millet, and then Ctrip …… I suddenly found that the usual online loan platform in the loan money can not be lent out. There was no money in my hand at all. At that time, I felt that it was simply going to collapse. I had no appetite for food and lost 8 pounds. I’ve always been a very sleepy person, that time just can’t sleep, more than 5:00 in the morning woke up, lie until 6:00 really can’t lie down, get up, to find yourself something to do.

There was a week of complete pennilessness, and the good news is that we didn’t go without food and there was meat in the fridge. The actual actual time you’ll be able to get a good deal more than just a few of these, the actual time you’ll be able to get a good deal more than just a few of these. When you don’t have money, you don’t spend it on anything, and you don’t go anywhere.

It was a miserable life, mainly because of the stress. The collection calls are very mood-altering, they’ve called me a dozen times this morning. And maybe they’ve studied their words, they’re not tough, but it’s a burden to listen to.

There was a collection call once, from a big platform, northern accent, male, and he asked, “Is that all you’ve got?” “Do you believe I’m calling whoever and whatever”, “Do you know that whoever? “I’ll pay you back today. Then I figured out that the collection calls always try to lead you to say, “I can pay you back today,” and always bite on one word. “Can you pay it back at 3pm today”, they would record it, and if I made a commitment I would do everything I could to pay it back, and if I couldn’t I would be even more burdened. Then I’d say, “I’ll try,” and sometimes I’d say, “I’ll try.” “Almost”, sometimes “maybe”. Can’t make promises, and won’t say “I’m not giving it back” in a righteous manner.

I also have an exploding address book. In October, really can not borrow money, I decided to force ashore, temporarily do not pay back the money, of course, will not borrow more money. Debt repayment is natural, but I still can’t get on the phone now, and the collection calls are all nonsense. I just made up my mind not to answer the phone, when the only concern was the fear of getting my address book blown up. The collection would say, if I don’t pay by what time, I’ll call you at home and call your company. In reality my company was my own cell phone, there was no such thing as a landline, and the only person in my family was my mother, who pretty much never looked at her phone. And my wife, she’s been encouraging me that it’s normal to fail in business, and if I do two jobs at the end of the year, I might be on the water right away.

I called a more important partner to preview, he also expressed understanding, this year this kind of environment, we all understand that I am a foreign population, weak foundation, can hold up to now can be. Slowly get psychologically prepared. The advantage of forced disembarkation is that the hole will not get bigger and bigger, so that there is hope for disembarkation.

At the end of October, I collected two payments, adding up to more than 6,000, and life held up. As for the hole, most of it can be negotiated, credit cards can be applied for interest suspension, penalty interest reduction, installment payments, and online loans can be applied for partial interest reduction. I still owe ants 35,000, millet 2,000, Baidu 8,000, Ctrip even less, still short of it less than 2,000 yuan.


We live in a partial place in Foshan, an industrial area. There are very many small workshops, making shoes, molds, printing, selling paper, and packaging. The area is full of small apartments or factories. We originally rented three single rooms here, one for me and my wife, one for my mother, and one for the workers, all with separate kitchens and bathrooms, for $550 a month. Fortunately, before the epidemic broke out, I fired the workers and backed out of one of the rooms. Looking back now, there were natural and man-made disasters that got me to this point, as well as issues with my own character flaws, such as not planning and lack of risk awareness.

The man-made disasters were real, I had a very high quality single, both party A and party B are big businesses, and party A violated the rules and kicked me out, and I made at least 100,000 less on that one. It was scheduled to produce in December 2019, and it would have been paid back normally in January of this year, and if it was still there, and if there was no epidemic, it shouldn’t have been overdue, and then none of these things would have happened.

Business was fine for the first half of the year. After the peak of the epidemic, the city unsealed, the demand was great, I was quite optimistic about this year’s advertising business, last year by the impact of environmental policies, Guangzhou closed down some small workshops, I took the opportunity to collect a number of second-hand equipment at a low price, the situation is quite good for me. I didn’t expect the second half of the year suddenly no single.

I later analyzed, after the epidemic period, we are very poor, no money to spend, the same company enterprises, are cutting back on spending, just the city just unsealed, we are very hard, want to fight, which gives me an illusion of great demand. For example, over there in Guangzhou, customers are mainly foreign trade companies, mostly foreigners in China to set up points, the past has a very stable income, according to them, the second half of this year, only 10% of the same period last year business, can reach two achievements is better.

My own processing plant to May, basically shut down. Throughout July, August and September, there was no business.

This is not the first time I felt the blow. the second half of 2016, the national check environmental protection, the impact on the manufacturing industry is particularly large, my own side also shut down for two months, but then the policy relaxed some, my business slowly recovered. I entered the industry in 2013, the most depressed period also did not have a collapse of the capital chain, I and partner two people, the most external debt added up to close to over 1 million, so this year really did not care much about this matter, capital turnover is not open, borrow some net loans to turn around, once the funds turn up, these liabilities really is not a big deal.

I didn’t think it would get to this point, over 300,000 overdue, and that’s basically it for this year, no chance, at least not in November. We did the November order that we got in October, and we’ve talked about a December order in October, but now I don’t have one. Unless the weather gets colder, I might be able to get out a batch of clothes for relief, advertising shirts for the fall and winter, usually rashers and sweatshirts, which are a little more profitable. Soon to the end of the year, some companies hold annual meetings, will need gift boxes, calendars and so on.

Now that I think about it quite regret, when I warned others, I might say, can not borrow it. But I am quite contradictory, if the early two years to stop, do not do the words of the company, with my experience and technology is quite easy to find work, monthly salary over ten thousand is not worried about. But I do not want to live that kind of life, the ceiling can be seen, this life is like this. The past one or two years would have been the best time for me to develop, and now that I have lost so much, it may be quite difficult to climb ashore and start up again.


The ones who owe more and more on online loans this year, the few online loan groups I’m in, like me, are still relatively few on their own, a lot of people are stuck in a hole and end up relying on their families. I’m on my own, but the good news is that my wife and my mom understand me. Going through this, I’ll think long term. I have a plan of how much money I should make in the coming year and how hard I should work. My wife maintains her current 4,000 to 5,000 a month, I need 8,000 to 12,000 a month, and with luck we’ll both make 15,000 or 16,000 a month, so that in a year’s time, half the debt will be paid off and I won’t have to worry too much about the rest.

It’s also tempting to run into this and that. The first thing you need to do is to take a look at the actual shoes or boots that you’re wearing.

This is the reason why you can’t afford to buy a lot of these products, and you can’t afford to buy them at all. Loans at super high interest rates. He borrowed quite a lot of this stuff at first. At that time, “burst address book” quite brutal, collection calls and even to his school principal’s wife there, school colleagues basically know, he felt ashamed, can not go on! up.

Everyone has a different tolerance for stress. I advised him at the time that he should never quit, because as long as he had a source of income, there was still hope for everything. He has a monthly salary of 8,000, training awards have tens of thousands of pieces, housing subsidies and tens of thousands of dollars, a year to calculate down to more than 200,000, if the students are selected to the city team, provincial team, there will be a bonus, as long as the students have been successful, this bonus will follow the coach for life.

Until this epidemic, I really realized the benefits of the institutional unit, like me so solo, a little windfall, quite passive. I told him, you just invite everyone at the unit to have a meal, sincerely apologize, admit your mistakes, while saving money, and then run the drip after work, slowly the money will be paid back. But he didn’t listen and resolutely quit. His skills are not going to get him a job out there. I suspect he’s still gambling now. He was orphaned in his teens, and his parents didn’t care when he was a kid, but then life got better and he didn’t have control and went into the gambling abyss.

Gambling is not something I would touch. I have a character flaw that I won’t listen to others who tell me it’s a detour, and I have to experience it myself to know what’s wrong in order to control myself. Once upon a time drinking was like that, and so was being late on online loans. When I was most broken, I didn’t want to do extreme things, but overall I think I was hopeful. For example, I am now self-brainwashing, down around the case of many, this year this market, I a small company struggling to support now, only owe more than 300,000, if you are lucky, touch a single or two will also turn out.

Last month, the resume, if you can find a partial administrative positions, no overtime, no travel, there is still time for me to continue to get their own company, is the most ideal. The next step is to aggressively expand my business and send out more advertisements in order to get on the water sooner.

Spoken by|Gia