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Meanwhile, as the number of defaults on personal P2P loans has risen, the debt collection industry has also been proliferating. By browsing this site you are agreeing to this. Student crowned breast model winner in China. Sorry, you have not enabled Javascript for your internet browser, so some of our website's pages may not render as fully as intended. Many of them have no clue how quickly high interest rate debt can balloon. China has always witnessed such unique beauty contests in the past couple of years wherein in the winner had her implants done just before the pageant.

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Female Chinese students ‘asked to hand over nude photos to secure loans’

As a result conventional lenders have exited the student loan market, and P2P lenders have filled the void. She told the newspaper that many of her female classmates had been swept into the scheme but were unwilling to speak up. However, the expansion in tertiary education has rendered this quota system inadequate, ThePaper. Sorry, you have not enabled Javascript for your internet browser, so some of our website's pages may not render as fully as intended. She was then forced to send the lender her nude photo as collateral for another loan to cover the original debt. We use cookies on this site to improve performance and for analytics.

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