2. Article 108 of the General Principles of the Civil Law stipulates that debts shall be paid off. If it is temporarily unable to repay, it may be repaid by the debtor in installments with the consent of the creditor or the ruling of the people's court. Those who have the ability to repay and refuse to repay shall be forced to repay by the people's court.
Article 313 of the Criminal Law stipulates that whoever refuses to execute the judgment or ruling of the people's court, if the circumstances are serious, shall be sentenced to fixed-term imprisonment of not more than three years, criminal detention or a fine.
What punishment will online loans receive if they have no money?
1, penalty interest and liquidated damages
If the loan is not repaid, the first thing you will encounter is high interest and corresponding liquidated damages. If you don't want to get yourself into a loan quagmire, you'd better develop good repayment habits.
2. Credit will be damaged.
Whether it is money borrowed from banks or money from online lending platforms, if it is overdue, it will be much more difficult to apply for credit cards or loans in the future. Some people think that overdue online loans have no effect on their credit information. In fact, this idea is wrong. At present, there is an interconnected encryption system between the online lending platform and the central bank. On the online lending platform, there will also be a "blacklist" system, and your credit can be found in minutes.
If the circumstances are serious, people will go to jail.
Many people are very concerned about whether the consequences of non-repayment of online loans will lead to imprisonment. Usually, this kind of non-repayment of money is a civil dispute and has not risen to the criminal level. However, if the borrower refuses to perform or has the ability to repay, and insists on default, then the court can investigate the criminal responsibility of the borrower, and if the circumstances are too serious, he will go to jail. The current online lending platform is very different from traditional financial institutions and banking institutions. It has brought a more rapid, convenient, safe and high-yield investment and financial management model and opened a new round of investment and financial management storm. Moreover, its characteristics are incomparable to those of banking institutions and financial companies. With the rapid development of the Internet in the past two years, we can see that online lending platforms have penetrated into different groups. People gradually realize the importance of investment and financial management, and follow the pace of the times and join such a queue.