Online lending is not illegal. If the online loan platform provider explicitly provides guarantee for the loan through the media such as web pages and advertisements, or there is other evidence to prove that the lender requests the online loan platform provider to assume the guarantee responsibility, the people should support it. In other words, peer-to-peer lending is protected by law, but the online lending platform provider cannot be required to bear the guarantee responsibility, and it depends on whether it is stated in the service agreement.
1. Is online lending illegal?
1, online lending is not illegal. If the online loan platform provider explicitly provides guarantee for the loan through the media such as web pages and advertisements, or there is other evidence to prove that the lender requests the online loan platform provider to assume the guarantee responsibility, the people should support it. In other words, peer-to-peer lending is protected by law, but the online lending platform provider cannot be required to bear the guarantee responsibility, and it depends on whether it is stated in the service agreement.
2. Legal basis: Article 22 of the Provisions of the Supreme Law on Several Issues Concerning the Trial of Private Lending Cases.
Lenders and borrowers form a lending relationship through the online lending platform. The provider of online lending platform only provides media services, and the parties require it to bear the guarantee responsibility, which the common people will not support.
2. What should I do if the online loan is overdue for arbitration?
After the online loan is overdue, if the arrears cannot be paid off for a long time, the lending institution can apply for enforcement. If the lender has no property to enforce, refuses to perform the effective judgment, overdue repayment and other negative information will be recorded in the personal credit report, and will be restricted from high consumption and entry and exit, and may even be detained by the judiciary.
Arbitration is not equal to execution. After arbitration, only an arbitration letter can be applied for execution. Notice will be given after acceptance, and the arbitration procedure can be defended if it is not accepted.
If arbitration is not notified and mediation is not conducted, even if it is implemented, it will be the principal plus the legal interest rate. Arbitration also has a time limit.
The arbitration institution is a company, and it can start business by filing with the Judicial Bureau. There are thousands of arbitration institutions in China.
An arbitration agreement has the same legal effect as a written arbitration agreement in traditional arbitration if it conforms to the electronic form stipulated by law and its signature conforms to the conditions of reliable electronic signature stipulated by law or the parties.
Is online lending legal?
Borrowing on the online lending platform supervised by relevant regulatory authorities is legal and protected by law. Peer-to-peer lending is a kind of private lending, which is legal. Peer-to-peer lending is just a form of private lending, that is, private lending concludes a loan contract in the form of a network contract, and fulfills the contractual obligations of providing loans and repaying principal and interest through the network.
Is online lending legal?
Online lending is legal, and online lending is a kind of private lending. Borrowing money through the Internet is becoming a trend. With the advantage of the Internet, users can complete all the steps of loan application without leaving home, which is very fast. However, not all online lending platforms are formal and legal. For example, the annual interest rate of some online lending platforms exceeds 36%, which is illegal. Provisions of the Supreme People on Several Issues Concerning the Application of Laws in the Trial of Cases of Private Lending Article 1 The term "private lending" as mentioned in these Provisions refers to the financing behavior among natural persons, legal persons and other organizations and among themselves.
Is it legal to borrow money on the online lending platform?
It is legal to borrow money on the online lending platform supervised by the relevant regulatory authorities.
If the p2p online lending platform provider explicitly provides a guarantee for the loan through web pages, advertisements or other media, or there is other evidence to prove that it provides a guarantee, according to the request of the lender, the people can judge that the P2P online lending platform provider bears the guarantee responsibility.
It can be seen that it is equivalent to "recognizing" various guarantee behaviors carried out by the P2P platform and acknowledging the legitimacy of online lending platform borrowing.
Extended data:
The loan agreement on the online lending platform belongs to electronic evidence and can be used as evidence after examination, that is, the loan agreement on the online platform can be used to exercise creditor's rights.
Methods of judging the legality of online loan companies;
1. Enterprise qualification and team strength, including the time of establishment, relevant certificates of the enterprise, ICP filing of the website, background of the management team, registered paid-in capital, whether it has its own technology research and development team, annualized rate of return, etc. Usually formal online loans have complete business-related documents, and the annualized rate of return is generally maintained between 12%- 18%. You can refer to Galaxy Venture Capital.
2. Guarantee mode. At present, there are three main guarantee modes of online loans: self-guarantee mode, third-party guarantee mode and unsecured mode. The third-party guarantee mode is the best. Once the financier defaults or is overdue, the third-party guarantee will be responsible for compensating the investor. This model is currently trusted and respected by mature investors.
3. The flow of funds. The essence of online lending is to provide intermediary services, and it should not involve transactions. The reason for the cash withdrawal crisis is probably because the company diverted the customers' deposited funds for its own use or other purposes.