According to the regulations, if the borrower fails to repay the loan within the time limit, it will affect the borrower's personal credit information and may also affect the future loan and living consumption. If the circumstances are serious, and the repayment is not active after repeated collection, which constitutes a criminal act, legal responsibility will be investigated and imprisonment may be imposed.
I. Matters needing attention in online loans
1. Whether the loan platform has been approved by the CBRC and whether it holds a financial license. If it is a small loan platform without a financial license, it is generally informal. Customers had better avoid it to prevent loan fraudsters from falling into loan scams.
2. What is the loan interest rate of the platform? Is it very high? If the loan interest rate is too high, beware of usury (the Supreme People's Court stipulates that the annualized interest rate of online loans shall not exceed 4 times of the floating interest rate LPR).
Second, there are signs that the micro-loan network has withdrawn from the online loan business.
On April 29th, 2020, Micro-loan Network released the Bulletin on the Operation of Micro-loan Network, saying that since February18th, 2020, the business model of Micro-loan Network has been adjusted, and the focus of its work has shifted to post-loan collection, and all efforts have been made to recover funds to ensure the timely repayment of the lender's principal. On the same day, the micro-loan network also announced the relevant collection from March 18 to April 26.
Micro-loan network said that it is constantly increasing online and offline collection efforts, enriching collection methods, and reminding customers to cherish credit records and repay on time through SMS, telephone, App messages and official WeChat accounts. /kloc-from March to April 26, 2008, the platform temporarily detained 4,946 mortgaged properties, sent11894 repayment letters to users, and reported a total of 349 18 people to the debt evasion list. Subsequently, the micro-loan network will continue to report overdue customer data to the credit information system. By then, untrustworthy customers will be restricted in personal travel, daily consumption, bank loans and children's education.