Legal analysis: Some online loans are routine loans. Routine loans will gradually increase the degree of exploitation of borrowers, and all kinds of routine fraud methods are becoming more and more refined, maliciously causing borrowers to default, and then the third party will intervene and continuously increase the amount of loans. We should carefully distinguish the difference between conventional loans and private lending. The "routine loan" behavior of online loans may eventually affect the daily life of individuals, relatives and friends because of their inability to repay high interest. Therefore, it is recommended to carefully choose online loans. In peer-to-peer lending, both parties to the contract have corresponding capacity for civil rights and capacity for civil conduct, and voluntarily conclude the contract according to law. The contract content does not violate the provisions of laws and regulations, and there is no contract stipulated in the contract law, so it is a legal and effective contract.

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

Article 671 Where the lender fails to provide the loan on the agreed date and amount, thus causing losses to the borrower, it shall compensate for the losses.

If the borrower fails to collect the loan according to the agreed date and amount, it shall pay interest according to the agreed date and amount.

Article 672 The lender may inspect and supervise the use of the loan as agreed. The borrower shall regularly provide relevant financial and accounting statements or other materials to the lender as agreed.

Article 673 Where the borrower fails to use the loan according to the agreed purpose, the lender may stop issuing the loan, recover the loan in advance or terminate the contract.