1. Peer-to-peer lending is a kind of private lending, which is legal. Peer-to-peer lending is just a form of private lending, that is, private lending concludes a loan contract in the form of a network contract, and fulfills the contractual obligations of providing loans and repaying principal and interest through the network. Article 22 of the Supreme Law on Private Lending: Lenders and borrowers form a lending relationship through the peer-to-peer lending platform. The provider of the online lending platform only provides media services, and the parties require it to bear the guarantee responsibility, and the people will not support it. If the online loan platform provider explicitly provides guarantee for the loan through the media such as web pages and advertisements, or there is other evidence to prove that the lender requests the online loan platform provider to assume the guarantee responsibility, the people should support it.
Is online lending illegal?
Online lending is not illegal. If the online loan platform provider explicitly provides guarantee for the loan through the media such as web pages and advertisements, or there is other evidence to prove that the lender requests the online loan platform provider to assume the guarantee responsibility, the people should support it. In other words, peer-to-peer lending is protected by law, but the online lending platform provider cannot be required to bear the guarantee responsibility, and it depends on whether it is stated in the service agreement.
1. Is online lending illegal?
1, online lending is not illegal. If the online loan platform provider explicitly provides guarantee for the loan through the media such as web pages and advertisements, or there is other evidence to prove that the lender requests the online loan platform provider to assume the guarantee responsibility, the people should support it. In other words, peer-to-peer lending is protected by law, but the online lending platform provider cannot be required to bear the guarantee responsibility, and it depends on whether it is stated in the service agreement.
2. Legal basis: Article 22 of the Provisions of the Supreme Law on Several Issues Concerning the Trial of Private Lending Cases.
Lenders and borrowers form a lending relationship through the online lending platform. The provider of the online lending platform only provides media services, and the parties require it to bear the guarantee responsibility, and the people will not support it.
2. What should I do if the online loan is overdue for arbitration?
After the online loan is overdue, if the arrears cannot be paid off for a long time, the lending institution can apply for enforcement. If the lender has no property to enforce, refuses to perform the effective judgment, overdue repayment and other negative information will be recorded in the personal credit report, and will be restricted from high consumption and entry and exit, and may even be detained by the judiciary.
Arbitration is not equal to execution. After arbitration, only an arbitration letter can be applied for execution. Notice will be given after acceptance, and the arbitration procedure can be defended if it is not accepted.
If arbitration is not notified and mediation is not conducted, even if it is implemented, it will be the principal plus the legal interest rate. Arbitration also has a time limit.
The arbitration institution is a company, and it can start business by filing with the Judicial Bureau. There are thousands of arbitration institutions in China.
An arbitration agreement has the same legal effect as a written arbitration agreement in traditional arbitration if it conforms to the electronic form stipulated by law and its signature conforms to the conditions of reliable electronic signature stipulated by law or the parties.
Is online lending illegal?
Whether online lending is illegal depends on the situation. If it is normal, it is not illegal to have a business license. If there is no legal procedure for lending, it is suspected of illegal business. Online lending depends on the specific platform. It is illegal for some small platforms if micro-loans are illegal and the loan amount does not match the actual account.
Legal analysis
Is online lending legal or not? Look at it clearly and treat it differently. As a form of Internet finance, online lending does not violate relevant laws and regulations. However, if you deliberately attract others to lend with high interest rates and use the funds for arbitrage or cheat others to lend, it constitutes a crime and should be investigated for corresponding criminal responsibility. Not illegal, but it belongs to it. The legal judgment is that it is not a penalty interest, but only the principal. The interest rate of private personal loans shall be determined by both borrowers and borrowers through consultation, but the interest rate determined through consultation between the two parties shall not exceed four times of the loan interest rate of financial institutions at the same period and the same grade announced by the People's Bank of China (excluding floating). Those who exceed the above standards should be defined as high-interest loans. If it is online, it is also illegal, and the parties need to bear certain legal costs for their actions and be punished by law. It is legal not to exceed the interest rate stipulated by law. The Supreme Law issued a new regulation, taking the one-year loan market quotation (LPR) issued by the National Interbank Funding Center authorized by the People's Bank of China on the 20th of each month as the standard, and clearly determining the upper limit of judicial protection of private lending interest rates. Where there are other provisions in the law, those provisions shall prevail.
legal ground
Article 13 of the Provisions of the Supreme People's Court on Several Issues Concerning the Application of Laws in the Trial of Private Lending Cases shall be deemed as invalid under any of the following circumstances: (1) Borrowing from financial institutions; (2) Lending money from other profit-making legal persons, raising funds from employees of the unit or illegally absorbing funds from public deposits; (3) Lenders who have not obtained the loan qualification according to law provide loans to unspecified social objects for the purpose of making profits; (four) the lender knows or should have known in advance that the borrower's loan is used for illegal and criminal activities, but still provides loans; (5) Violating the mandatory provisions of laws and administrative regulations; (6) Violating public order and good customs.
Is online lending protected by law?
Online lending is protected by law. First of all, peer-to-peer lending is a kind of private lending, which is legal. Peer-to-peer lending is a form of private lending, that is, private lending concludes a loan contract in the form of a network contract, and fulfills the contractual obligations of providing loans and paying interest through the network. According to the relevant laws and regulations of our country, both borrowers and lenders form a loan relationship through online lending platform, and the provider of online lending platform only provides media services. If the parties ask them to bear the guarantee responsibility, the people will not support it. If the online loan platform provider explicitly provides guarantee for the loan through the media such as web pages and advertisements, or there is other evidence to prove that the lender requests the online loan platform provider to assume the guarantee responsibility, the people should support it. In other words, peer-to-peer lending is protected by law, but whether the online lending platform provider can be required to bear the guarantee responsibility depends on whether it is stated in the service agreement.
legal ground
Provisions of the Supreme Law on Several Issues Concerning the Trial of Private Lending Cases Article 21 Lenders and borrowers form a lending relationship through the peer-to-peer lending platform. The provider of the online lending platform only provides media services, and the parties require it to bear the guarantee responsibility, and the people will not support it.
If the online loan platform provider explicitly provides guarantee for the loan through the media such as web pages and advertisements, or there is other evidence to prove that the lender requests the online loan platform provider to assume the guarantee responsibility, the people should support it. "
This is the end of the introduction about the legality and illegality of online loans. I wonder if you have found the information you need?