Legal analysis: Many platforms seem to have closed down, but the actual platform itself is just a "shell" or sold to other investors. The debt relationship between you and the investor has not been lifted, and the investor still has the right to recover the loan. In other words, although the online lending platform has closed down, the debt relationship between borrowers and investors through the platform will not disappear. Another point that deserves our attention is that the closure of the online lending platform does not mean that your overdue credit is unavailable. Although many online loans do not have credit information now, there will be online loan credit information databases and blacklists. Once bad records are left in these credit information systems, it will be very difficult to borrow them on other platforms. However, if the platform goes bankrupt, some fees can be paid back, and the online lending platform goes bankrupt, so the online lending platform can no longer provide intermediary services, and there are some intermediary fees, service fees and excess interest. The part exceeding the statutory annualized interest rate of 24% can be repaid.
Legal basis: Article 676 of the Civil Code of People's Republic of China (PRC). If the borrower fails to repay the loan within the agreed time limit, it shall pay overdue interest in accordance with the agreement or relevant state regulations.