Online loan is the abbreviation of online loan, including individual peer-to-peer lending and commercial peer-to-peer lending.

in article 197 of the contract law, a loan contract is in written form, unless it is otherwise agreed between natural persons. The contents of the loan contract include the loan type, currency, purpose, amount, interest rate, term and repayment method.

My previous career had a lot to do with online lending. In order to let more netizens see the essence of online lending routines, I consulted a lot of information and summarized the online lending routines as follows:

1. The loan threshold is low and the procedures are simple. You can lend money on the same day only by providing your ID card and mobile phone number.

2. there is a high handling fee, which will be deducted directly before the account is received. Interest exceeds 36% (the state stipulates that interest exceeding 36% is usury).

3. The loan platform is often disconnected, so you can contact the dunner directly when you repay, and you can transfer money by common payment methods such as WeChat Alipay. Victims are often loaned for no reason.

4. The loan platform keeps recommending other loan platforms for you to repay the loan.

5. dunning harassment, phone explosion, 24-hour non-stop harassment of your family and friends, abuse.

6. It's difficult to defend rights. The police basically can't handle these things. If they really go to your house for violent collection, they will take care of them.