What should I do if Xiao Xiang Youpin has arbitrated me?

The elephant premium has been arbitrated, and users need to restore their reputation as required.

Online loans are overdue for a long time, and they often receive various collection messages. Some threaten to collect them at home, some threaten to sue for fraud, some say they will be blacklisted for dishonesty, and some say they will be arbitrated by arbitration institutions.

The so-called arbitration means that two people have conflicts and ask an objective and neutral object to mediate. After reaching the mediation result, both parties can't go back on their word, otherwise they will be punished accordingly. The basic requirement of arbitration is that the arbitration institution itself should stand on the position of fairness and justice, so that the demands of both parties can be presented and decided.

Behind the online loan arbitration

Online loan arbitration means that when you borrow money from these platforms, if you study the contract carefully, you will find that online loan platforms often introduce arbitration in advance to endorse loan transactions. When you are overdue, it is actually an act of arbitration in advance to unilaterally give the arbitration result without your attendance.

It is completely invalid for online lending institutions to arbitrate first. The court does not recognize that even if the online lending institution applies to the people's court for enforcement with the so-called arbitration award, it will not succeed. The loan dispute itself is a civil dispute. After the dispute arises, the platform should directly file a civil lawsuit with the people's court, instead of making so-called arbitration to scare the borrower first.