If you can't afford it, first determine a repayment order. The first thing to do is to check your credit report. If you return to the credit platform first, but not later, you should stop peer-to-peer lending in time. For platforms with an annual interest rate of more than 36%, you can discuss with the other party. More than 36% of the platforms do not meet the national regulations and belong to usury. You only pay 36% of the interest and principal. Many platforms' interest plus various service fees can reach an annual interest rate of 80% and 90%, which is illegal. You can negotiate with the online lending platform to only repay the principal.

What will happen if the online loan does not pay back the money?

The consequences of not repaying the loan are as follows:

1, and bear high overdue fees;

2, bear the platform fancy collection;

3. Facing the crisis of national trust;

4. China People's Bank has a stain on its credit information;

The defendant went to court.

Legal basis: Article 585 of the Civil Code of People's Republic of China (PRC).

The parties may agree that when one party breaches the contract, it shall pay a certain amount of liquidated damages to the other party according to the situation of breach of contract, and may also agree on the calculation method of the compensation for breach of contract.

If the agreed liquidated damages are lower than the losses caused, the people's court or arbitration institution may increase them at the request of the parties; If the agreed liquidated damages are excessively higher than the losses caused, the people's court or arbitration institution may appropriately reduce them at the request of the parties.

If the party concerned pays the liquidated damages due to delay in performance, the breaching party shall also perform the debt after paying the liquidated damages.