Generally, there is a three-month period, which is equivalent to 13% monthly interest. It is a loan with a relatively high interest rate.
A monthly interest rate higher than 5/2 is usury. The interest of private lending is agreed by both parties, but it is more than four times the interest rate of bank loans in the same period and is not protected by law. That is to say, if the borrower fails to pay back the money, the creditor will sue the court, and if the court decides, it will only award interest at four times the bank loan interest rate in the same period, and the excess will not be awarded.
1. At present, the medium and long-term annual interest rate of bank loan interest rate is 5.6%, 5.6% x 4 = 22.4%;
Second, the monthly interest rate is 2.3%. Calculate the annual interest rate, 2.5% X 12 months = 30%;
Third, 30% is more than 22.4%, which is more than four times the bank loan interest rate in the same period. If A sues you to the court, the court will only award interest within 4 times, that is, 22.4%.
Since you still have to find a way to pay back the money, it is definitely impossible for you to change the property now. If the property is transferred at an unreasonably low price, the transfer is invalid. If you transfer at a reasonable price, then the transfer price should be used to repay the debt. At the same time, if A goes to court, it is likely that you will file a lawsuit, and at the same time save your house and car so that you can't transfer ownership.
Extended data
The General Rules for Loans stipulates that:
(1) Determination of loan interest rate: The lender determines the interest rate of each loan according to the upper and lower limits of loan interest rate stipulated by the People's Bank of China, and specifies it in the loan contract;
(II) Collection of loan interest: Lenders and borrowers shall collect or pay interest on schedule in accordance with the loan contract and relevant interest-bearing provisions of the People's Bank of China. When the loan extension period plus the original term reaches the new interest rate grade, it will be charged at the new term grade interest rate from the date of extension. Penalty interest is charged for overdue loans according to regulations.
Loan interest settlement
Small farmers' loans from rural commercial banks will be repaid with profits. If it is a cross-year loan, the interest must be settled in one lump sum before the end of the year. The interest settlement date is 65438+ February 20th every year.
Except for small-scale farmers' loans, short-term loans (with a term of less than one year, including one year) bear interest according to the legal loan interest rate of the corresponding grade on the signing date of the loan contract. During the loan contract period, in case of interest rate adjustment, interest will not be calculated by installments.
Short-term loans are settled quarterly, and the 20th day of the last month of each quarter is the settlement date; If the interest is settled on a monthly basis, the 20th of each month is the interest settlement date. The specific interest settlement method shall be determined by the borrower and the lender through consultation. Interest that cannot be paid on schedule during the loan period shall be compounded quarterly or monthly according to the loan contract interest rate, and after loans overdue, at the default interest rate. When the last loan is paid off, the profit will be paid off with the principal.
The interest rate of medium and long-term loans (with a term of more than one year) should be fixed at one year. The loan (including all the funds that should be allocated by installments within one year from the effective date of the loan contract) shall bear interest according to the legal loan interest rate of the corresponding grade on the effective date of the loan contract.
After each full year (the date of issuing the first loan is subject to installment), the interest rate for the next year shall be determined according to the legal loan interest rate of the corresponding grade at that time. Medium and long-term loans are settled quarterly, and the 20th of the last month of each quarter is the settlement date. The interest that cannot be paid on schedule during the loan period shall be compounded quarterly according to the contract interest rate, and after loans overdue, it shall be compounded at the default interest rate.