HughPickens.com [hughpickens.com] writes:
There is more than one way to get a student loan in China as People's Daily Online reports that many
Chinese university students use their nude pictures as IOUs on online lending platforms [people.cn], putting themselves at the risks of having everybody – including their parents – see them naked. Borrowers are also required to upload pictures of their ID cards and report their family information, including their address and cell phone numbers. "The
nude photos will be made public if the borrowers fail to repay their debts with interest [china.com]," an insider was quoted as saying. The credit varies based on the borrower’s education background. Usually an undergraduate student can receive 15,000 yuan ($2,277) in credit, while those studying at famous universities as well as doctorate students can receive even larger loans. Snapshots of threatening collection messages have also gone viral, with a photo of a female borrower and a message reading how the lender would send the photo and her naked video footage to her family members if she could not pay back her 10,000 yuan borrowed on an annual interest rate of 24 percent within a week. “Naked IOUs started long ago. Not only university students but many others also borrowed money with nude pictures,” says insider surnamed Zhang. Zuo Shenggao from Jingshi Law Firm says that nude photos are actually invalid as collateral in terms of laws. "Nude photos are not property.
It is in the category of reputation rights [ndtv.com]," says Shenggao. "If anyone threatens to publish the photos online, they will violate the clients' reputation. At the same time, they are also spreading pornographic material. Both are illegal and they will commit double offence,"
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