Legal analysis: According to the Opinions on Small Consumer Loans in People's Republic of China (PRC) jointly issued by China Banking Regulatory Commission and China Insurance Regulatory Commission, the supervision period of 36 cases of loan fraud is 12 months, and the supervision period of 24 cases of loan fraud is 6 months. If there is a serious breach of contract during the fraud supervision period, financial institutions can unconditionally investigate the criminal responsibility of civil collateral loan fraud and investigate fines and liquidated damages. Simply put, as long as financial institutions are willing, you will not only lose money, but also go to jail.

Legal basis: Article 67 1 of the Civil Code. If the lender fails to provide the loan according to the agreed date and amount, thus causing losses to the borrower, it shall compensate for the losses. If the borrower fails to collect the loan according to the agreed date and amount, it shall pay interest according to the agreed date and amount.