What should I do if I receive the most malicious reminder message? Do it!

Some borrowers have consulted about online loan collection. Before, they borrowed 5000 yuan from a small loan platform because they needed money badly. As a result, they were unable to repay because of careless interest. Now they are facing the problem of address book and telephone collection explosion every day, which is very distressing. They will even receive various reminder messages, including court prosecution, arbitration absenteeism meeting, lawyer's letter and so on. What should they do?

In the short message collection, there is a kind of notice called online arbitration. I suggest that you can call the local arbitration commission to confirm the authenticity, or check the e-mail, which will contain arbitration notice, arbitration application, creditor's rights transfer confirmation form and so on.

Many people don't know that online loans may not necessarily go to court. After all, the cost is too high, but it is likely to apply for online arbitration because the cost is not too high.

So is online arbitration legally effective?

Let me put it this way: the arbitral award is binding on both parties. If one party fails to perform the award, the other party may apply to the people's court for enforcement in accordance with the relevant provisions of the Arbitration Law and the Civil Procedure Law, and the people's court applying for enforcement shall enforce it.

China has a special law on online arbitration. Article 16 of the Arbitration Law stipulates that the arbitration agreement includes the arbitration clause in the contract and the arbitration agreement reached in other written forms before or after the dispute occurs. Article 1 of the Judicial Interpretation of the Arbitration Law of People's Republic of China (PRC) stipulates that the "other written forms" of the arbitration agreement stipulated in Article 16 of the Arbitration Law include contracts, letters, data messages (including telegrams, telex, faxes, electronic data exchange, e-mails) and other forms of agreements requesting arbitration.

To sum up, if you really receive this short message, it is recommended to negotiate with the online lending platform as soon as possible to determine a suitable repayment plan and pay back the money as soon as possible, so that the other party may withdraw the lawsuit.