We must first understand a concept. The money we borrow is not borrowed by major platforms, but by investors. In many people's understanding, everyone thinks that the borrowed money is lent by various platforms. For example, the money borrowed by the auction loan is the money put by the auction loan itself, but in fact it is not the case. P2P platform is just a matchmaking platform. Most platforms don't lend with their own money. They just set up a bridge between investors and borrowers to realize the docking of funds between the two sides.
Therefore, behind the P2P platform loan, there must be one investor or multiple investors. So in essence, people don't owe money to the platform, but owe money to investors. Since they owe investors money, it doesn't matter if the P2P platform doesn't close down. Even if the platform does not exist, as long as the investor does not give up his creditor's rights, he can still ask the borrower to repay. Only after some P2P platforms closed down in recent years, the platforms were empty and no one came to collect them, so even if the borrowers were overdue, no one came to collect them, and everyone could live a quiet life.
However, the platform does not charge money, which does not mean that everyone does not have to pay back the money at all. In fact, after the platform collection, there are still other ways to deal with debts. One way is for investors to report to the police, and the police will collect information about investors and borrowers, and then the police may inform borrowers to take the initiative to repay or entrust some asset management companies to collect these debts. Another way is for investors to set up their own collection teams and then entrust lawyers to collect them. Another way is that although the platform does not carry out P2P business, they will still let the collection team be responsible for collecting the debt balance of the platform. For example, auction loans are this type.
For these P2P platforms, whether it is legal or not, at least the money lent by investors must be repaid by debtors as long as it is within the scope permitted by law. According to the relevant laws and regulations in China, the interest rate protection scope of private lending is four times that of LPR in the same period, while the current one-year LPR interest rate is 3.7%, which is 14.8%, which means that the interest rate of online lending is protected by law within 14.8%.
Moreover, this regulation will not be implemented until August 2020. According to the interpretation of the Supreme Court, in the first-instance private lending cases newly accepted after August 20, 2020, the loan contract was established before August 20, 2020, and the parties requested to apply the judicial interpretation at that time to calculate the interest from the date of establishment of the contract to August 19, 2020, and the people's court should support it; The interest from August 20, 2020 to the repayment date of the loan shall be calculated according to the interest rate protection standards set forth in these Provisions.
Before August 20, 2020, the upper limit of interest rate for private lending is two lines and three districts. That is, the annualized interest rate is protected by law within 24%, and the lender requests the borrower to repay this part of the interest rate, and the court supports it; The annualized interest rate is between 24% and 36%, which is a free liability. The law does not support or oppose it, and both parties can negotiate on their own.
If the annualized interest rate exceeds 36%, it is not protected by law. If the lender asks the borrower to pay more than this interest, the court will not support it. This means that if the online loan is borrowed before August 20, 2020, the loan interest is protected by law within 24%, and it is legal for the lending platform to ask the borrower to pay this interest. It can be seen that no matter which P2P platform, as long as the loan interest rate charged by it is within the scope of legal protection, it will not have an impact, and they have the right to charge.
If you haven't received the reminder, it must be because your contact information has changed, such as your phone number, email address and even your place of residence. However, if you change your contact information and don't receive the collection information, it doesn't mean that you can be safe. If you don't repay for a long time, you will not only have a penalty interest, but also be sued by investors to the court, or be included in the list of people who have lost their trust by relevant departments. At that time, many things could not be done. For example, you can't take the high-speed train, fly, buy a house, buy a car, register a business, and so on.
So don't take any chances. Don't think that the platform has closed down and your money has been wasted. Only when you are in trouble will you know the trouble caused by not paying your debts. Of course, although the court allows the P2P platform to collect money, it must also strictly follow the provisions of the law, and it is not allowed to make some outrageous behaviors and use violent means to collect money. If there are some acts of violence such as intimidation, insult, abuse and threats. In the process of P2P platform collection, borrowers can complain to the regulatory authorities or call the police directly.