Two days later in the evening, I received a transfer notification on my mobile phone.
Seeing that the 300,000 yuan was not missing a cent, Zhang Rong's heart finally calmed down. "Thank God, the money is back."
When Xu Xiaoan learned that his family's capital had been withdrawn, he whispered to his mother, "Mom, I want to quit my job."
Hearing this, Zhang Rong's eyes widened.
She wanted to say, with your education level, where can you find a job with two days off a week, high salary, and five insurances and one fund after you quit?
But on second thought, this company seems unreliable. I don't know when it will go bankrupt, so it's better to change it sooner rather than later.
So after a little hesitation, she gave in and said, "You decide."
"I want to quit." Xu Xiaoan's attitude was more resolute than ever before. "I know that investment is extremely risky, and I can't continue to do it."
When the after-sales service urged the borrower to pay back the money, the borrower would not respond. He would either insist that he had no money, or disappear from the world, or run to the window and shout "If you push me again, I will jump down."
After following Xiao Shen around for two or three days, Xu Xiaoan was almost depressed.
Only then did she understand why the after-sales department was so short of staff.
Debt collection is not something that ordinary people can do! For people with conscience, even if the salary is high, they don’t want to earn this kind of money.
As for holding on for half a month and transferring back to the pre-sales department, Xu Xiaoan had already given up the idea.
Having seen all kinds of borrowers, she couldn't deceive herself, let alone say with confidence, "Our company's financial management is as safe as bank financial management. If you don't buy it, it will be a loss for investors!"
If she had not signed a confidentiality agreement before joining the company, she would have wanted to call every household and notify all customers to withdraw their funds when she left.
Now, she can only inform her relatives and friends and remind them.
"How could I have run into a liar when I was working so hard?" Zhang Rong sighed, "What a sin!"
"For an emerging industry, the state has not yet issued regulatory regulations, and perhaps things will get better in the future." That said, Xu Xiaoan couldn't wait until then. She couldn't wait to resign, determined to get rid of the nightmare.
**
"You've only been here for a week and you want to resign?" the after-sales department manager was surprised.
"Yes." Xu Xiaoan said seriously, "I don't want to do this anymore."
"Why?" The manager couldn't understand. "After-sales salaries are high, more than 100,000 yuan a year. Where can you find a high-paying job like this after you quit?"
Xu Xiaoan sighed and thought, is this a matter of money? Ever since the debt collector came to her house, her conscience has been tormented and she can't sleep well at night!
"I plan to prepare for the civil service exam." She made up an excuse.
"Think about it carefully," the manager advised. "In a few days, you will be able to return to the pre-sales department. It is not worthwhile to leave."
"Don't think about it. I've made up my mind." Xu Xiaoan replied firmly.
"Okay then." The manager compromised, "But even if you submit your resignation application, you have to stay for another half a month. You can only leave the company after the work is handed over."
Xu Xiaoan: “I know.”
That's how it was settled.
Xu Xiaoan was fully confident that he could get away safely, but unexpectedly plans could not keep up with changes.
Two days later, Xu Xiaoan was still asleep when his cell phone suddenly rang.
"Hello?" She pressed the call button, but she was still sleepy and confused.
A person on the other end of the phone shouted anxiously, "An An, your company posted a notice in the early morning, saying that funds are tight recently, withdrawal time is delayed, and it will take 3-5 days to transfer the money. What's going on? Is there any problem?"
Xu Xiaoan, "?"
Xu Xiaoan: "Wait a moment."
She opened the app and found that the platform had indeed sent a notification in the early morning, informing investors that the withdrawal time would be two days later than usual.
I opened my work WeChat group and saw the leader @ everyone, saying that liquidity was tight recently and it was expected to return to normal in a week. Pay attention to comforting investors and let them stay calm.
The employees in the bottom row swiped “received”.
When Xu Xiaoan saw the chat content in the WeChat group, he felt a little uneasy.
She told the relative who called, “The company said this is only temporary and will be back in place in a week.”
"That's good." The other party was obviously relieved.
Xu Xiaoan was puzzled. "Didn't I tell you before to take the money out as soon as possible? How come there is still money in there?"
"You don't know, the project I invested in is about to expire, with only ten days left," said the relative.
"I figured that even if there was a problem, it wouldn't last for ten days, so I planned to wait."
"Don't worry, once the project is completed and the funds are received, I will withdraw the money immediately. No ambiguity!"
Somehow, Xu Xiaoan always had a bad feeling. "I think we should not wait any longer. We should just transfer the project and withdraw the money."
"Well... I'll think about it carefully." After thinking about it, the relative hung up the phone.
Xu Xiaoan complained that the other party didn't listen to her advice, but then she thought again, why did the other party invest in p2p online financial management and why did he fall into the trap? Wasn't it her enthusiasm that pulled him over?
"What the hell is this?!"
Xu Xiaoan covered his face with the quilt, feeling that he had dug a big hole for himself.
**
Hearing that the withdrawal time was delayed, many investors were anxious and asked customer service if there was any problem with the company.
"It's just that the liquidity is tight, and everything will return to normal in a week." The customer service replied one by one and finally calmed most of the people down.
Only a few investors were still worried and insisted on transferring the projects at hand and then withdrawing the cash.
Days passed one by one. Eight days later, the company's phone was flooded with calls.
"We agreed that the money would be transferred within 3-5 days. It's already the 6th day. Why hasn't the money arrived yet?"
"What's going on? Why is there no response when pressing 'Withdraw'? Money can only be transferred in, but not out???"
"I've been waiting for 7 days, why hasn't the platform transferred the money yet? Are you guys trying to cheat me?"
The customer service answered the phone and was very busy. But... they didn't know why the payment was not made!!
"What did the finance department say?" asked the customer service manager.
The employee in charge of the contact said after a long time, "I can't get through to the boss or the finance department."
Everyone looked at each other, seemingly realizing that the situation was not good.
While I was stunned, a group of police rushed into the company. "The boss of the company surrendered to the Public Security Bureau early this morning. Please cooperate with our work and accept the investigation."
Why would the boss turn himself in for no reason?
The staff were stunned and thought these people were joking.
However, the police took all the employees away without further explanation, including Xu Xiaoan, who was bewildered and had only five days left before leaving the company.
**
xx financial management collapsed!
Another platform collapsed, can we still buy online financial products?
After the platform collapses, how should investors protect their rights?
…
The discussion on the Internet is in full swing, with all kinds of opinions being expressed.
Others were just watching the fun, while investors who had purchased platform financial products and could not withdraw their principal were going crazy. They ignored their work and rushed to the police station to report the case.
The trouble is, this is online financial management. Investors are from all corners of the country, and it is very difficult to protect their rights.
For a time, people were in panic.
Some timid people were afraid that their own platforms would also encounter problems, so they could not help but apply for withdrawals. As more and more people did this, a run on the bank occurred, and several p2p companies were short of funds and had liquidity difficulties.
Online financial management companies have issued announcements one after another, announcing the postponement of payment.
However, the more this happens, the more panicked investors become.
As time passed, a stampede was about to occur, and at this moment, the police gave the results of their investigation.
Why did xx Financial Management fail to repay the interest and principal of investors on time? In fact, there is no concept of bank run for truly compliant P2P.
Borrowers post loan bids on the platform, and investors bid and lend money to borrowers.
After maturity, the borrower repays the principal and interest, the investor makes a profit, and the transaction is successfully concluded.
If the borrower has operational problems and is unable to repay normally when due, and the investor's funds are trapped, the platform should collect debts from the borrower on behalf of the investor.
In this process, the platform is only an intermediary and does not participate in the transaction.
So, why did xx financial management collapse?
In fact, the fundamental reason is illegal operation.
xx Financial Management is neither able to find so many investment targets that meet the requirements (suitable projects), nor does it have sufficient risk control capabilities to distinguish the pros and cons of investment targets (such as cancer patients defrauding loans). What should it do with so much money being absorbed?
The boss chooses fictitious investment targets.
No quality company? Make one up.
No suitable projects? Make up some.
In the end, out of the 2 billion plate, 1.5 billion was fake!
Fake bids are very harmful. Without real borrowers, the platform has to pay the interest.
When its own funds are insufficient to pay the fees, the platform has no choice but to issue new bids and borrow new funds to repay the previous batch of investors at all costs.
This becomes a Ponzi scheme of borrowing old money to pay off new debts.
When the newly raised funds were not enough to repay past debts, the company's capital chain broke and the platform collapsed.
The survey results are out, and some are happy while others are worried.
"The platform I invested in is a state-owned enterprise, so it must be legitimate! That's all right, let's just go our separate ways."
“There are very few bids on the platform I’m on, and every time one appears, we need to grab them, there will definitely be no problem!”
"From this perspective, a run on the bank is not right. What should I do? I invested 500,000 yuan!"
"This is shit. I put over a million dollars into online financial management... It contains not only my money, but also my relatives' money..."
"Damn it, I planned to diversify my investments with 100,000 yuan. I ended up buying money from three p2p companies, and all three issued announcements saying that they were short of funds and would postpone payment. I shouldn't have taken advantage of this small bargain earlier! I've saved up money after three years of hard work and now it's all going to go down the drain... Ahhhhh, I'm so unlucky!"
"Are you all stupid? I only invested in a p2p company that had been in business for half a year. Even if it was a scam, it would at least last a year or two, leaving enough time for me to run away."
"Don't be complacent. As far as I know, a p2p company lost contact with the platform and the boss ran away three months after opening. As long as you keep playing, you never know when it will be your turn."
…
This summer is destined to be a mess.
From June to July, in just two months, 150 p2p companies encountered problems such as difficulty in withdrawing cash, bosses running away, and platforms losing contact/closing down.
Some platforms decided to liquidate and exit the industry in an orderly manner over a period of three to six months. Although the payment was delayed, at least the principal was paid off and the interest was repaid as agreed.
More investors were brutally slaughtered and fell from the middle class to the poor overnight.
Selling houses for investment, borrowing money for investment to earn interest difference, bringing friends and relatives to the platform to make money together... Countless people have paid a heavy price for their momentary impulse.
The author has something to say:
The information comes from Baidu.
Investing in p2p is very dangerous, so proceed with caution.
**
From June 2018 to mid-July 2018, in just 50 days, 163 P2P online lending platforms encountered problems such as difficulty in withdrawing funds and the bosses running away.
xFubao once had a similar product with an interest rate of 5%-6%. It was considered relatively reliable because the platform had a large and high-quality customer base.
Sesame Credit assigns scores to all customers. Those with high scores can borrow more money, while those with low scores can borrow less or no money.
The funds collected are used to lend to Huabei/Jiebei. The cost of collecting deposits is 6%, and the lending income is 10%-15%. Because the volume is large enough, the interest difference is enough to cover the labor costs, and there is still profit.
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