you can try to do that from now on before it's too late
You have a valid point, the reason why it will be difficult to get rid of online debts is that they do not require collateral and can be obtained in just a matter of hours, they do not require any verification other than personal identity, and after that you will be free to take loans even at unreasonable values because they exceed the ability of the borrower to pay the installments and also the large interest will make it more difficult for the borrower to pay the installments later.
Actually, what is also quite dangerous is that it can be used to buy goods on the marketplace so the more you open the marketplace application, the more you use the pay later feature.
Unfortunately, the advertisements that continue to be spread by these online loan applications with taglines that contain false information so that more and more people are involved in loans like that, they should make loans taking into account the ability to pay installments and interest that must be paid otherwise we will only work to pay off these stupid debts
I hear your anguish and despair; scammy online lending services are a serious issue. The low barrier to entry for accruing such loans comes with a price. The price tag often reads financial disaster, despite the fact that it appears to guarantee financial freedom
These debts are difficult to get rid of for a number of reasons, not the least of which is the simplicity with which they are accrued. In my perspective, the true problem here is a lack of financial literacy. The entire ramifications of these loans need to be understood before they are taken on. While the lack of verification and collateral requirement makes these loans attractive, borrowers should be wary of the compounding interest and penalty fees that can quickly become a burden
I agree that it's tempting to fall into the trap of using the "pay later" option on marketplace apps. But it's on us, the customers, to practice restraint and pick products that will serve us well. It is long past due for regulatory agencies to step in and enforce stronger restrictions regarding the deceptive advertising. Putting the onus of responsibility exclusively on the buyer is not acceptable