Private lending
First, the legal consequences of non-repayment of private loans
1. If the payment is not made by the repayment date, and the corresponding liabilities for breach of contract, such as late payment fees, are stipulated in the IOU, the debtor may eventually bear the liquidated damages other than the principal and interest.
2. If the creditor still fails to repay after filing a lawsuit with the court, it may affect the debtor's credit and be included in the "blacklist". This will bring inconvenience to the debtor's loans and travel in his future life.
3, simple private lending is generally not enough to pursue criminal responsibility, but if the debtor is for the purpose of illegal possession, using fictional facts or concealing the truth to defraud a large amount of public and private property, it may constitute a crime of fraud and be investigated for criminal responsibility. It is generally believed that the basic structure of this crime is: the actor commits fraud for the purpose of illegal possession → the victim has a wrong understanding → the victim disposes of the property based on the wrong understanding → the actor obtains the property → the victim suffers property losses.
Second, how to judge the law if you don't pay back the money;
The people's court needs to make a judgment according to law. If the arrears are sued and lost, the contents of the people's court judgment need to be fulfilled. If it fails to perform, it may be enforced by the people's court.
3. What is the limitation of prosecution for borrowing money and not paying it back?
1. For private loans with regular repayment, the limitation of action is 3 years from the date of the expiration of the repayment period, and the right to request protection from the people's court will be lost after the expiration.
2. For private lending with regular repayment, if the debtor fails to perform the debt after the expiration of the agreed period and issues a debt bill without repayment date, it shall be deemed that the limitation of action is interrupted, and the limitation of action shall be recalculated from the second day after receiving the debt bill (3 years).
3. Private lending with irregular repayment, that is, private lending without repayment date, is not limited by statute of limitations, but is limited by the maximum protection period of 20 years.
4. For irregular private lending, if the borrower explicitly refuses to repay (of course, the borrower will prove that he has explicitly refused to repay), the two-year statute of limitations shall apply from the date when the borrower explicitly refuses to repay.
5. For private lending beyond the limitation of action, if both parties reach a repayment agreement on the original debt, or if the borrower signs the dunning notice, it will be regarded as a reconfirmation of the original debt, and the relationship between creditor's rights and debts is protected by law.