Surely many people have heard the word picking them, but not everyone clearly understands what picking them up is. If you are wondering, you can refer to the details in the article below to understand more about this term.
Picking them up, picking them up, also known as playing them, playing wards, depending on each locality and region, has different names but all refer to the same financial lending activity.
Picking them up, Picking up what are they?
1. Picking them up, Picking up what are them?
Bowling them (bowling them) is a form of black credit loan, but this form does not need a mortgage borrower, but the interest rate is very high. Therefore, it can be understood that they are a form of hot loan, a lifesaving service for those who are in need of borrowing money without having time to go to the bank, the financial company to borrow and wait for the bank or financial company to approve.
The organizer of the bowl picking they are people who have a lot of money and are not afraid of risks. As for those involved in bowl play, they are mostly relatives, friends or neighbors of the person who organizes their bowl and borrowers usually borrow 10 to 7.8. For example, if you are a participant in the bowl and borrow 11.1 million, however, you only receive 9.1 million and the remaining 2 million is cut into the interest of 1 month of borrowing but you have to pay 10 million after 1 month when borrowing.
2. Is it illegal to pick them up?
Under the 2015 Criminal Code, which was amended and supplemented in 2017, usury is considered illegal and so are administrative penalties and imprisonments.
In fact, when you borrow 11.1 million but get only 9.1 million at an interest rate much higher than the bank interest rate. However, in this form of impulsive loan, the borrower and the lender have an agreement but this agreement is against the law, so the lender can be criminally prosecuted.
3. Should I borrow from them?
If you are in urgent need of a loan but do not wait for the bank or financial company to approve, picking them up is the most useful solution for you. However, if you do not need to borrow money urgently, you should carefully consider the following issues to make the best and wisest decision when planning to play their bowl.
– Their interest rates are usually high in the range of 20-40% of the total loan amount.
– If the payment is due and you cannot pay, the relationship between you and the lender will be affected, not as good as before.
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Hopefully with the above information, you have understood what picking them up, picking up their bowls is, as well as making a decision whether to play picking them up.