Moreover, the other party is suspected of usury (exceeding the statutory protection interest rate) and is not protected by law and does not bear criminal responsibility. You can repay the principal and interest within the interest rate supported by law.
According to Article 193 of the Criminal Law of People's Republic of China (PRC), the crime of loan fraud refers to the act of fabricating false reasons such as introducing funds and projects for the purpose of illegal possession, using false economic contracts, using false certificates, using false property rights certificates as guarantees, repeatedly guaranteeing beyond the value of collateral, or defrauding banks or other financial institutions of loans or a large amount by other means. The starting point of prosecution is 20 thousand yuan, and only when this amount is reached can it be suspected of loan fraud.
Extended data
If it is really unable to repay, it shall negotiate with the lending institution to extend the repayment period or repay it in installments. Failure to repay will lead to the following consequences:
1. Bear high overdue fees. For overdue fees, different online lending platforms have different names and different charging standards. Whether it is called overdue penalty interest, overdue management or other various names, the charging standard is very high. Therefore, those who have the ability to repay on time should never be overdue. ?
2, undertake the platform fancy collection, the first stage, just a few days overdue, the platform customer service quietly reminded, warm reminder, telling you that it is overdue, please repay on time; In the second stage, if it is overdue for a long time, the platform customer service will seriously warn that the threat of overdue will face serious consequences; In the third stage, it was overdue for a long time, and the platform stopped trying to convince the other party and began to take practical actions.
3. The credit information of China People's Bank is tainted. At present, most online lending platforms have not been connected to the People's Bank of China's credit information system, but it has become an inevitable trend to access the People's Bank of China's credit information. In the future, if the online lending platform fails to repay the loan within the time limit, it will be recorded in the credit information system of the People's Bank of China, just like bank loans and credit cards that are overdue, causing credit stains. ?
4. If the defendant goes to court and fails to repay the loan for a long time, and the amount exceeds 20,000, he can file a lawsuit and is in danger of being sued by the online lending platform. Once the court decides that the online lending platform wins the case, the borrower not only has to pay the money that needs to be repaid, but also pays the litigation costs and huge fines of both parties, and even faces jail time.
Baidu encyclopedia-loan fraud