CreditEase is generally a tripartite contract. CreditEase Excellence Wealth Investment Management (Beijing) Co., Ltd., as Party B, is mainly responsible for assisting the borrower to complete the formalities of creditor's rights transfer and collecting service fees. CreditEase Huimin Investment Management (Beijing) Co., Ltd., as Party C, is responsible for providing the lender with borrower recommendation, loan convenience, payment management, post-loan management of lent funds and necessary collection, so as to collect relevant account management fees.
Moreover, from the agreement of CreditEase, we can't see the connection between CreditEase, its founder and the borrower. However, as the legal representatives of many companies under CreditEase, the founder's role in the process is far more important than the two companies in the agreement. The capital flow here is very complicated, and it is difficult for investors to see the "doorway".
The so-called P2P creditor's rights transfer model is different from the "peer-to-peer" model in typical P2P lending. The borrower directly connects with the investor, and the platform is only responsible for matching transactions. The mode of creditor's rights transfer is also called "middleman" mode or "professional lender" mode by people in the industry.
That is, the P2P platform looks for borrowers offline, evaluates them and recommends them to professional lenders after passing. Professional lenders lend money to borrowers to obtain creditor's rights, and then transfer the creditor's rights to investors, who get interest income from the creditor's rights.
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CreditEase stepped on a mine, the risk of bad debts still exists, and the business model is questioned. It is not recommended to lend on CreditEase.
CreditEase does not adopt the direct P2P business model, but the CreditEase controller acts as a fund intermediary in its own name. The borrower borrows money from CreditEase controller, and then the controller splits a large number of creditor's rights and packages them to the real fund transferor in different term combinations to earn high interest margin.
CreditEase gives investors two choices, one is to directly trade with borrowers through CreditEase platform, and the other is to transfer the creditor's rights that CreditEase has packaged. Insiders of CreditEase said that only a few lenders and borrowers directly traded. In most cases, CreditEase facilitates the transfer of creditor's rights.
People's Network-CreditEase's offline lending model has been questioned by many parties.
People's Daily Online-CreditEase even stepped on mines: the business model of bad debt risk is still questioned.