Legal analysis: not illegal. However, if the loan contract between natural persons stipulates to pay interest, the loan interest rate shall not violate the relevant provisions of the state on limiting the loan interest rate. Legal basis: Article 674 of the Civil Code of People's Republic of China (PRC) stipulates that the borrower shall pay interest within the agreed time limit. If the time limit for paying interest is not stipulated or clearly stipulated, and cannot be determined according to the provisions of Article 510 of this Law, if the loan period is less than one year, it shall be paid together with the loan; If the loan term is more than one year, it shall be paid at the end of each year; if the remaining term is less than one year, it shall be paid together with the loan.

Is private lending protected by law? Can you be a debtor?

Private lending is protected by law. If the debtor fails to perform his debts or commits other acts that endanger the interests of creditors, he may be liable. Those who meet the conditions of litigation mediation shall be accepted, put on file for trial and judged. But a lot of evidence is needed. Do you have an iou? If there is no IOU, you can make it up first. If not, you can also collect chat records and transfer records. However, only one piece of evidence cannot be collected. You must collect evidence first. If you can't receive it, you can ask for a loan and consult customer service. Small and simple loans, no need to hire a lawyer. If you can't operate or don't understand, you can contact the iou for consultation.

Are private loan companies protected by law?

1. Private lending is protected by law. There is no such thing as private lending. Only financial institutions are eligible to lend. Lending between private individuals is legal and protected by law. However, the interest rate of private lending cannot exceed the standards set by the state. If it exceeds the standard, the excess part is not protected by law.

This is the end of the introduction about whether private lending is protected by law and whether private lending is legal. I wonder if you have found the information you need?