The loan is still going to the bank, or the formal platform is safer. I won't talk about usury and violent collection.
A monthly interest rate higher than 5/2 is usury. The interest of private lending is agreed by both parties, but it is more than four times the interest rate of bank loans in the same period and is not protected by law. That is to say, if the borrower fails to pay back the money, the creditor will sue the court, and if the court decides, it will only award interest at four times the bank loan interest rate in the same period, and the excess will not be awarded.
1. At present, the medium and long-term annual interest rate of bank loan interest rate is 5.6%, 5.6% x 4 = 22.4%;
Second, the monthly interest rate is 2.3%. Calculate the annual interest rate, 2.5% X 12 months = 30%;
Third, 30% is more than 22.4%, which is more than four times the bank loan interest rate in the same period. If A sues you to the court, the court will only award interest within 4 times, that is, 22.4%.
Since you still have to find a way to pay back the money, it is definitely impossible for you to change the property now. If the property is transferred at an unreasonably low price, the transfer is invalid. If you transfer at a reasonable price, then the transfer price should be used to repay the debt. At the same time, if A goes to court, it is likely that you will file a lawsuit, and at the same time save your house and car so that you can't transfer ownership.
The Supreme People's Court issued the Provisions on Several Issues Concerning the Application of Laws in the Trial of Private Lending Cases, one of which is to regulate the interest rate of private lending.
Article 26 of the "Regulations" clarifies that the interest rate agreed by the borrower and the lender shall not exceed 24% of the annual interest rate, which belongs to the judicial protection zone, and the lender has the right to require the borrower to pay interest at the agreed interest rate; However, if the interest rate agreed between the borrower and the borrower exceeds 36% of the annual interest rate, it is an invalid area, and the interest exceeding 36% of the annual interest rate shall be deemed invalid, and the borrower has the right to demand the lender to return the interest paid above 36% of the annual interest rate.
Extended data
The General Rules for Loans stipulates that:
(1) Determination of loan interest rate: The lender determines the interest rate of each loan according to the upper and lower limits of loan interest rate stipulated by the People's Bank of China, and specifies it in the loan contract;
(II) Collection of loan interest: Lenders and borrowers shall collect or pay interest on schedule in accordance with the loan contract and relevant interest-bearing provisions of the People's Bank of China. When the loan extension period plus the original term reaches the new interest rate grade, it will be charged at the new term grade interest rate from the date of extension. Penalty interest is charged for overdue loans according to regulations.
(3) Loan interest subsidy: According to the national policy, in order to promote the economic development of certain industries and regions, the relevant departments may subsidize the loan interest. Loans subsidized by relevant departments shall be independently examined and issued by the undertaking bank, and strictly managed in accordance with the relevant provisions of the General Rules for Loans.
(4) Suspension, interest and interest loan: Except as stipulated by the State Council, no unit or individual has the right to decide suspension, interest and interest. The Lender shall, according to the decision of the State Council, specifically handle the cessation, interest reduction and interest-free according to the scope of duties and authority.
Loan interest settlement
Small farmers' loans from rural commercial banks will be repaid with profits. If it is a cross-year loan, the interest must be settled in one lump sum before the end of the year. The interest settlement date is 65438+ February 20th every year.
Except for small-scale farmers' loans, short-term loans (with a term of less than one year, including one year) bear interest according to the legal loan interest rate of the corresponding grade on the signing date of the loan contract. During the loan contract period, in case of interest rate adjustment, interest will not be calculated by installments.
Short-term loans are settled quarterly, and the 20th day of the last month of each quarter is the settlement date; If the interest is settled on a monthly basis, the 20th of each month is the interest settlement date. The specific interest settlement method shall be determined by the borrower and the lender through consultation. Interest that cannot be paid on schedule during the loan period shall be compounded quarterly or monthly according to the loan contract interest rate, and after loans overdue, at the default interest rate. When the last loan is paid off, the profit will be paid off with the principal.
The interest rate of medium and long-term loans (with a term of more than one year) should be fixed at one year. The loan (including all the funds that should be allocated by installments within one year from the effective date of the loan contract) shall bear interest according to the legal loan interest rate of the corresponding grade on the effective date of the loan contract.
After each full year (the date of issuing the first loan is subject to installment), the interest rate for the next year shall be determined according to the legal loan interest rate of the corresponding grade at that time. Medium and long-term loans are settled quarterly, and the 20th of the last month of each quarter is the settlement date. The interest that cannot be paid on schedule during the loan period shall be compounded quarterly according to the contract interest rate, and after loans overdue, it shall be compounded at the default interest rate.