Private lending is a common lending behavior. Because there is no professional risk control of financial institutions, there are often problems that cannot be solved. Today, I will tell you what to do if private loans are not available, hoping to help friends in need.

Three ways to teach you what to do if private loans are not available.

Method 1: Urge the borrower in time.

When the lender finds that the borrower's private loan has not been repaid, it shall promptly remind the other party that the loan is overdue by telephone, door-to-door and other means, and require the other party to fulfill the repayment obligation immediately.

Method 2: obtain collateral or ask the guarantor for it.

If there is collateral in the loan contract, the lender may obtain collateral according to the contract when it is determined that the borrower cannot repay the loan; If there is a third party guarantor in the loan contract, the lender may require the guarantor to perform the repayment obligation instead of the borrower according to the contract.

Method 3: Bring a lawsuit to the court.

The General Principles of the Civil Law stipulates that the limitation of action for loan disputes is two years. If the loan contract signed by private lenders and borrowers is true and valid, the loan purpose is reasonable and legal, and the loan interest rate is within 24%, they can bring a lawsuit to the court to safeguard their legitimate rights and interests and demand the borrower to return the sum of the loan principal and interest.