A new loan company is using nude photos from borrowers as collateral for them to repay their loan. If they don’t repay the loan, the lenders release their nude pics to the public…
Break.com says that the loan app is being used in China right now. It allows people who need money to log and borrow from complete strangers. The lenders are allowed to set their own terms of repayment as well as what “collateral” the borrowers have to give up to secure the loan – even naked pics!
Although using nude photos as collateral is illegal, (as is publicly posting nudes pics if somebody cannot repay the loan), the company that allows the loans says that it will interfere with the terms of the loans.
Do YOU think this should be stopped or do you think people who agree to the terms of the loan should be publicly embarrassed?