Personal advice:
Some users who apply for online loan products may think that all online loan products are bad online loans, but in fact, there are still some formal online loan products on the market, and Suning Finance is one of them. Suning Financial itself has a normal business license, and the annualized interest of its loan products does not exceed the legal provisions. When users apply for loan products, they need to voluntarily repay the principal and interest of the loan products.
Reasons for overdue non-prosecution of online loans:
1, overdue buffer period. During this period, online lending companies often don't make dunning, just like bank credit cards are overdue, and at most they will send you a push or SMS notification.
2. "Deliberately" overdue interest collection. This situation generally occurs on informal online lending platforms, because for them, the longer the overdue time, the more interest they may receive.
3, do not accept, direct credit. If the money from the online lending platform comes from the bank, once it is overdue, your personal credit information will be directly connected to the central bank's credit information, and credit cards, mortgages and travel will be affected. For example, Tencent's micro-loan is funded by Weizhong Bank.
4. The online lending platform directly closed down. In 2020, the P2P lending platform in China was thoroughly cleaned up, and lightning storms were everywhere. Many borrowers can hardly get their money back.
According to Article 193 of the Criminal Law, whoever defrauds a bank or other financial institution of loans for the purpose of illegal possession, with a relatively large amount, shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and shall also be fined not less than 20,000 yuan but not more than 200,000 yuan.
The China Banking Regulatory Commission issued the Interim Measures for the Administration of Online Loans of Commercial Banks, emphasizing that online loans should follow the principles of small amount, short time, high efficiency and low risk. In addition to buying houses and repaying investment products such as mortgage of housing loans, stocks, bonds and futures, fixed assets, equity investment, etc., the personal consumption credit line does not exceed 200,000 yuan.