1. Home Credit installment, the interest is too high and I cannot repay it!

If you really do not have the ability to repay, you should negotiate with the lending institution to extend the repayment period or repay in installments. Failure to repay the loan

1. If you really have no ability to repay, you should negotiate with the lending institution to extend the repayment period or repay in installments.

2. If the lending institution wins the lawsuit, it will be implemented within the performance period.

3. When accepting enforcement, the property, vehicles, securities and deposits in the name of the lender will be inquired according to law.

4. If the lender has no property available for enforcement but refuses to perform, the information will be recorded in the personal credit report and restricted from high consumption and entry and exit, and may even lead to judicial detention.

2. Is Home Credit Financial Loan’s high interest rate legal?

Hello, consumer financial services are still an emerging industry in China. Loans are unsecured, fast and convenient. Mainly serving low- and middle-income people who cannot easily obtain credit card loans or other traditional bank loan services. Correspondingly, the loan risk is relatively higher, so the fees are also higher than traditional banks. The fees related to consumer loan services provided by Home Credit mainly include interest, loan management fees, and customer service fees. Among them, the loan interest is strictly determined according to the reference range of the People's Bank of China's loan interest rate table for the same period. Home Credit is committed to providing customers with transparent and responsible loan services, and charges fees in compliance with relevant laws and regulations.

3. Is Home Credit’s installment interest rate so high legal?

Legal. To put it most directly, credit card installment is aimed at people who can apply for a credit card, but there are still many people who cannot apply for a credit card and cannot enjoy the service of credit card installment. And fast financial consumption methods like Home Credit are suitable for these people who cannot apply for a credit card. It is more practical for people because the procedures are not cumbersome and the rates are more reasonable compared to other loan methods.

According to national laws and regulations, Home Credit is legal if the interest does not exceed the national regulations. Once the interest exceeds the national regulations, the applicant has the right to apply for an interest refund.

In August 2015, the Supreme Court’s judicial interpretation of the "Provisions on Several Issues Concerning the Application of Law in the Trial of Private Lending Cases" clearly stipulated: "The interest rate agreed between the borrower and the borrower does not exceed the annual interest rate of 24, and the lender requires the borrower to If the interest rate is paid according to the agreed interest rate, the interest rate agreed between the borrower and the borrower exceeds the annual interest rate of 36, and the interest agreement for the excess is invalid. If the borrower requests the lender to return the interest paid that exceeds the annual interest rate of 36, the people shall support it. "

To put it simply, debts with an annual interest rate of less than 24 are protected by law; interest rates between 24 and 36 are not protected by law, as long as they are voluntarily agreed. , that is also reasonable; but if the interest rate exceeds 36, the interest agreement for the excess part is invalid, which is illegal.

It is worth noting that liquidated damages, handling fees, etc. are all included in the interest rate.

4. Is it legal for Home Credit loan interest rates to be too high

Home Credit interest rates are inherently high