What does it mean to escape from debt by hanging the net?

What does it mean to avoid debt through the internet?

Internet debt evasion is a kind of civil breach of contract. Users borrow money online, but they are able to repay it after maturity. It should be noted that not all debts are evaded, but specifically when users have the ability to repay but are unwilling to repay the corresponding debts, or when they have the ability to fulfill the relevant obligations but do not try their best to fulfill the relevant debt requirements.

At present, there are two forms of debt evasion: one is passive inaction, and the other is active evasion of debt responsibility.

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From the legal point of view, the loan contract signed by the lender and the borrower is true and effective. Therefore, even if the platform explodes, lenders can still protect their rights and interests through civil litigation. Borrowers who maliciously default on repayment will not only bear overdue penalty interest, but also be blacklisted for breach of trust.

Although court prosecution is the most deterrent measure, it is difficult for many borrowers to disappear and it is difficult to deliver the notice. In addition, many online lending platforms have small loans and many customers, which is time-consuming and laborious to handle, and the court has limited manpower. It is very difficult to punish borrowers who maliciously evade debts through court prosecution.

Baidu Encyclopedia-Avoiding Bank Debt

People's Daily Online-China Internet Finance Association: Further crack down on debt evasion.

What does Sesame Credit mean by evading debts through the Internet?

Sesame credit is a civil breach of contract, which means that not all outstanding debts are evaded by deliberately not repaying borrowed debts. It emphasizes the debtor's subjective intention, specifically, it is to avoid the behavior of being able to perform the debt without trying to do so.

Once it enters the list of debt evasion, it will have a negative impact on users' credit. Need to settle the arrears in time, and contact the lending platform to issue a settlement certificate after paying off the loan. If nothing is done, it will affect the credit information of users, and in serious cases, it will affect the handling of future credit business.

What does it mean to officially hang up the net to escape debts?

Online debt evasion means that the lending institution submits the information of users' debt evasion to online arbitration, so as to treat the arrears as bad debts. After receiving such information, users must pay attention to it, and it is best to settle overdue loans immediately. Once the bad debts are recorded in the credit report, they will not be able to apply for any credit business afterwards.

Of course, users can also choose to negotiate with lending institutions. After successful negotiation, they can reach an agreement on the repayment amount and repayment time, which can also prevent overdue loans from becoming bad debts.

Generally speaking, debt evasion can be divided into two situations: active debt evasion and negative inaction. The frequent occurrence of p2p debt evasion is largely due to the fact that the supervision of many p2p platforms is not particularly strict, and the risk control standard is far less than that of formal financial institutions, so the platform has little control over borrowers, thus providing borrowers with opportunities to evade debts.