"The HC China salesman continuously called to warn me about the possible poor credit record, which would have a bad effect in the future. I was so afraid," Wang said, explaining that he had to ask his parents for help.
HC China will report the bad credit of the "vanished" college students who have failed to pay back their loan, according to the firm's Wuhan branch.
Though college students are adults, their consumption view is not yet mature, said Qiu Baochang, leader of the lawyer team with the China Consumer Association.
The lawyer called for a rational consumption guide to educate college students, and suggested the government strengthen supervision on consumer finance companies in lending.
In 2009, the People's Bank of China issued a regulation stopping banks from issuing lines of credit above 1,000 yuan to students.
