1. Now there are many small loan companies that collect money in this way, including exploding the address book and collecting money at home. However, because it is a small loan company, many loans are small, and foreign borrowers are too lazy to collect them at home. By harassing the borrower's address book, mentally put pressure on the borrower and his relatives and friends. The purpose is to get back the principal and interest of high-interest loans. Why don't they take the judicial route? Because usury is not recognized by law, who will put the water in court for prosecution? Time is the premise, and then look down.
The method mentioned in the second point is not my own meaning, but I saw it elsewhere. Generally speaking, since it is a small loan company, the company's qualifications are basically problematic. Then, some borrowers mostly choose not to repay their loans (many people choose to find loan apps around the world and borrow money everywhere). No, what will happen? Just now, the borrower who doesn't repay the loan will not seek loans from local loan companies, but from foreign companies, and only borrow a few hundred to several thousand at a time. Foreign companies are too lazy to collect money at home, and the cost is too high. There is also the borrower's address book, personal information and so on. It's all pre-processed, for example, the address book is full of fake phones, etc ... What is the result of the collection? It's not gonna work out.
But I suggest you pay back some of it first, because the first step you take in this online loan is a choice. But if you don't pay it back, maybe they really won't do anything to you in real time, and they will just keep harassing you and people around you by phone.