Try not to believe some small online loans and small and micro businesses that are not creditworthy. It is very likely that they are routine loans and fraud. When encountering this kind of online loan, don’t contact it, just skip it.

Loan overdue usually means that after the loan expires, the borrower fails to repay the loan principal to the bank that issued the loan according to the loan time limit stipulated in the loan contract without going through the relevant extension or re-loan procedures. and interest, thus causing the loan to exceed the agreed period.

Online lending[2] includes individual online lending (i.e. P2P online lending) and online small loans. Individual online lending refers to direct lending between individuals through the Internet platform. Direct lending activities that occur on individual online lending platforms belong to the category of private lending and are regulated by laws and regulations such as Contract Law, General Principles of Civil Law, and relevant judicial interpretations of the Supreme People's Court. Internet micro-loans refer to small-amount loans provided to customers by Internet companies through micro-loan companies they control, using the Internet. Online small loans should abide by the existing regulatory regulations on small loan companies, give full play to the advantages of online loans, and strive to reduce customer financing costs. The online lending business is supervised by the China Banking Regulatory Commission.

Online lending is a bond investment with clear returns, and the lender of the funds obtains interest income; however, the public often confuses it with equity crowdfunding, which is an equity investment with flexible returns. Investors can Invest money in a company to obtain future income, such as Jingbei Crowdfunding, 36 Krypton, etc. are all equity crowdfunding platforms. Whether it is bond investment or equity investment, there are certain risks. Investors should fully understand the risks, be fully aware of and mentally prepared to bear their own risks, and judge and bear the risks of the project on their own under this premise.

How to deal with overdue online loans

(1) If you cannot afford it, first determine a repayment sequence. The first thing to do is to check your credit report. If you first repay the loan on the credit reporting platform and then fail to repay the loan, you should stop online lending in a timely manner and do not think about using loans to support loans. This will only make the debt bigger and bigger.

(2) For platforms whose annual interest rate exceeds 36, you can discuss with the other party. The portion exceeding 36 does not comply with national regulations and is a loan sharking act. You will only repay the interest and principal of 36.

Many platforms’ interest rates plus various service fees can reach an annual interest rate of 80 or 90, which is illegal. Basically, if the platform still wants to get its principal back, it has a lot of room for maneuver.

Legal Basis "The Provisions of the Supreme People's Court on Several Issues Concerning the Application of Law in the Trial of Private Lending Cases" If the interest rate agreed upon by both parties does not exceed the annual interest rate 24, and the lender requests the borrower to pay interest at the agreed interest rate, the People's The court should support it.

The interest rate agreed between the borrower and the lender exceeds the annual interest rate of 36, and the interest agreement for the excess portion is invalid. If the borrower requests the lender to return the interest that has been paid in excess of 36% of the annual interest rate, the People's Court shall support the request.