Net lending is an investment-management approach that has emerged in recent years, and some have succeeded in investing, but many have been caught up in failure. If you owe $200,000 for the Internet loan, the following are some ways to save yourself。

A 200,000-dollar self-help loan

1. Asset screening

The first thing to do was to check their assets. If you have other property or other income, you can consider selling assets or seeking loans to repay your debt. But in this case, you also need to take into account the feelings of others, after all, the endless borrowing of money without giving it back to others will affect their reputation。

2. Consultation with borrowers

If you are temporarily unable to pay your debt, you can request a stay or instalments in consultation with the borrower. If there was good faith in communicating with the borrower at the outset, it might be understood and supported by the counterparty. It needs to be noted, however, that any consultations should be matched by evidence to avoid non-compliance with oral commitments。

3. Insolvency resolution

Consideration of an application for bankruptcy would also be one way to solve the problem if it was already desperate and its financial situation was on the verge of bankruptcy. If the application is successful, it can alleviate its debt burden and regain its freedom. However, prior to an application, there was a need to understand the laws and procedures for applying for insolvency, which would entail many risks。

4. Seek assistance from professional bodies

There are now many specialized bodies, such as credit repair and debt consultations, that can help solve similar problems. These institutions operate within the limits of the law and can help you negotiate repayments, interest rates and prior fines, etc. At the same time, these professional bodies can help to analyse the source of your debt and the financial situation of the individual, so as to choose the most appropriate solution。