A few days ago, people was very shocked by the harassment case that afflicted illegal fintech (financial technology) customer in Solo, Central Java. Just because she was late for two days to pay the loan, the customer's photo poster was spread by illegal fintech to WhatsApp groups with a harassing statement to pay the debt.
Learning from the case, it's a good idea to be cautious if you want to borrow money from fintech. Even so, it doesn’t mean that borrow money online is a bad idea or not allowed. Borrowing money from fintech is not that bad as long as you careful on some things. Here are tips on borrowing money through fintech as recommended by Satgas Waspada Investasi.
1. Fintech Must be Registered with the Financial Services Authority
It's easy, you can see the list of fintech registered with the regulator listed on the Financial Services Authority website https://ojk.go.id/id. If the name fintech is not registered on OJK, do not let you borrow money from the fintech. Because, fintech that is not registered on OJK is illegal fintech.
2. Borrow According to Your Needs and Ability to Pay
Look again at your income, is it enough to pay the loan or not. Do not let the "dig a hole to close another hole", request a new loan to pay for the old loan.
3. Understand the Obligation, Risk, Fines, Fee and Interest
Before deciding to borrow, look first at what your obligations are, the risks that you will bear, fines, fees, and interest that you must be paid. Don’t let regret happen after you receive the money.