The harm of peer-to-peer lending is that

The hazards of online loans include: 1, the virtual nature of online transactions, which makes it impossible to authenticate the credit status of both borrowers and borrowers, and it is prone to fraud and default disputes, that is, not paying back. 2. A lot of information about lenders published on the network platform is published in the name of loan companies and financing companies. In fact, financial institutions must be approved by the state to engage in financial services such as credit financing. Those who engage in financial activities without authorization are often investigated for illegally raising funds, illegally absorbing public deposits and disrupting the order of financial management. 3. If the loan is issued on behalf of the network platform, then if the network platform neglects self-discipline, or the internal control procedures fail, or are used by others, there may be cases of fabricating loan information and illegally raising funds. Peer-to-peer lending, also known as online lending. Online lending is also becoming a trend. With the advantage of the Internet, all the steps of loan application can be completed without leaving home, including understanding the application conditions of various loans, preparing application materials, submitting loan applications, etc., which can be completed efficiently on the Internet. Peer-to-peer lending is protected by law, but the provider of online lending platform cannot be required to bear the guarantee responsibility, and it depends on whether it is stated in the service agreement.

Legal basis:

Article 22 of the Provisions of the Supreme People's Court on Several Issues Concerning the Application of Laws in the Trial of Private Lending Cases, the borrower and the lender form a lending relationship through the peer-to-peer lending platform, and the provider of the peer-to-peer lending platform only provides media services. If the party requests it to assume the guarantee responsibility, the people's court will not support it. The people's court shall support the online lending platform providers who explicitly provide guarantees for loans through web pages, advertisements and other media or have other evidence to prove that the lenders request the online lending platform providers to assume the guarantee responsibility.

Derivative problem:

Is peer-to-peer lending legal?

1. Peer-to-peer lending is a kind of private lending, which is legal. Peer-to-peer lending is just a form of private lending, that is, private lending concludes a loan contract in the form of a network contract, and fulfills the contractual obligations of providing loans and repaying principal and interest through the network. 2. Lenders and borrowers form a lending relationship through a peer-to-peer lending platform. The provider of the peer-to-peer lending platform only provides media services, and the people's court does not support the request of the parties to assume the guarantee liability. Peer-to-peer lending is protected by law, but the provider of peer-to-peer lending platform cannot be required to bear the guarantee responsibility, which still needs to be clearly stipulated in the service agreement.