There are two ways to get the money back, one is through normal collection means, and the other is through legal means. However, many netizens found an interesting problem after the online loan was overdue, that is, major platforms rarely sued overdue users to the court, and most of the time they asked users to pay back the money through various collection methods. Seeing this, many netizens are quite puzzled. Why don't these website platforms or banks directly sue customers? Isn't this more powerful in law?
In fact, it's not that banks or online platforms don't want to sue customers. Before making a choice, they must weigh the pros and cons. From the actual situation, if the overdue amount of the user is relatively large, the online lending platform or bank will definitely sue the user to the court. You can go to the court execution network to have a look. In fact, many of them are private lending disputes or bank credit disputes. However, for those customers whose overdue amount is relatively small, banks or online lending platforms will basically not sue the court, and at most they will recover the arrears through collection. The reason why banks or online lending platforms do not sue these users to the court is mainly due to several considerations.
First, there are too many overdue customers to cope with. Under the background of disorderly development of online loans, many people borrow online loans. It is conservatively estimated that there are at least 300 million online loan users. Even if only 10% is overdue, the number of overdue people may reach tens of millions. In the face of so many overdue customers, including online lending platforms such as banks, there is simply not so much energy to sue, and it is simply impossible to cope.
Second, even if the customer is sued, it may not be able to pay back the money, and there may be some money. Many people who borrow online loans are not very qualified. These online lending platforms are very relaxed when reviewing customers' qualifications, resulting in many people with poor repayment ability being able to borrow money. For these customers with poor qualifications, it is expected to be overdue. At this time, even if these online lending platforms take them to court, according to their own income and assets, it is estimated that they will not be able to repay. At this time, the bank or online lending platform not only failed to recover the money, but also may bear high legal fees and attorney fees.
At present, the lawyer's fee is not a small sum. In this kind of online loan case, the single lawyer's fee may reach thousands or even tens of thousands of yuan, and the lawyer's fee may be higher. It stands to reason that these legal fees and attorney fees should ultimately be borne by users who are in arrears, but these users who are in arrears have no money at all, so even if the court decides, they will not bear these fees, and ultimately they will be borne by the online lending platform or the bank itself. Sometimes these fees may be more than the user owes, which is not worth the loss.
Third, the interest rates of many online lending platforms have exceeded the legal boundaries. At present, the interest rates of many online lending platforms are relatively high, and many platforms bear interest on a daily basis. The formal platform interest rate is about 2/ 10000~5/ 10000, and the informal platform interest rate can reach more than 2‰. According to the current laws of China, the protection scope of private lending interest rate is four times that of LPR in the same period, and the protection scope of money borrowed before August 2020 is 24%. However, from the actual situation, the interest rates of many online lending platforms have exceeded the red line of 24% and even exceeded the warning line of 36%.
For these illegal interest rates, if the online lending platform sues customers to the court, it is not protected by law, that is to say, it has to bear part of the interest losses. However, if the online lending platform collects money by itself, it is not restricted by this law. Even if the interest rate of the online lending platform is above 100%, as long as they can get it back, it is their own money.
It is precisely because of various concerns that many online lending platforms will not easily take users to court even if their customers are overdue, as long as the amount is not very large. Usually, the so-called "court summons" or "lawyer's letter" received by customers in arrears are mostly fraudulent cooperation between these online lending platforms and some third-party collection companies to scare customers.