Is the money station a fraud? What if the money station doesn't pay back the money?

Yes, don't return it. According to the data released by the Shanghai police, these 23 online lending platforms are operated by the same criminal gang, involving 86 frauds, and the accumulated fraud amount exceeds 630 million. Judging from the behavior of this criminal gang, they themselves constitute fraud. By setting up routines to defraud customers of funds, these funds are not protected by law. In addition, according to China's current relevant laws and regulations, the upper limit of legal protection for private lending is four times the one-year LPR loan interest rate, while the current one-year LPR loan interest rate is 3.85%, and four times is 15.4%, which means that the interest with annualized interest rate exceeding 15.4% is non-repayable.

First, the harm of peer-to-peer lending

1, Credit Information Flower

With so many loan records, banks will never lend when they see such a credit report.

2. Low quota

The amount of online loans is generally not high, generally only 1000 yuan, mainly in the short term, and the interest is extremely high.

3. It is difficult to land.

People who apply for online loans think that they don't have to pay back the same money if they borrow it. When they pay back the money, they often "rob Peter to pay Paul", find new holes to continue to borrow, and finally make a profit, and the debt is too high to control.

4. violent collection

Once overdue, there will be endless violent phone calls and text messages waiting for you. The phone threat of a deadly serial phone call is just a piece of cake. It may seriously find you and make you and the people around you fidgety.

6. Since then, I have no chance to get another loan.

Many online loans are overdue many times, and personal credit reports are too dark to read. Banks and online lending institutions have long listed you as a high-risk customer. Even if the credit information is spotless, even small loans with high interest rates will be borrowed. Banks will seriously doubt your repayment ability, let alone lend you money.

Second, the impact of overdue online loans:

First, late payment will affect personal credit. If a lender borrows money from a bank and fails to repay it within the time limit, his personal credit report will leave a bad credit record. It is very difficult to apply for credit cards and loans in the future, and most of them will be rejected, which will cause many troubles to personal production and life.

Second, the most direct consequence of not paying back the credit loan is a high penalty interest, and you may have to pay a certain penalty. Even the principal and interest add up to a lot of expenses, and the result of not repaying on time is to increase my economic pressure.

Third, in loans overdue, the lender will face all kinds of collection. Banks or financial institutions have their own collection systems. After the lender is overdue, the first-class collection will send you a text message and call for a reminder. If it is not returned for a long time, and the degree is serious, there will even be a collector to collect it in person. This overdue staff member should be prepared and try to pay off the money at the first time before solving it.

Fourth, if the loan is overdue for a long time and the amount is large, the lender may be sued by financial institutions. After the lawsuit is accepted, the assets of the lender may be sealed up after the court pronounced a sentence. This is the "repayment reward" that the lender must implement, otherwise the court will seal up the property and other assets under your name according to law to repay the arrears with the proceeds from the auction.

Fifth, if the circumstances are serious, you may go to jail. Under normal circumstances, such incidents as borrowing money and not paying it back are civil disputes and will not rise to the criminal level. However, if some lenders refuse to implement it and insist on not paying it back, if the circumstances are serious or bad, the court will also investigate the criminal responsibility of the borrower according to the circumstances, and even go to jail if the circumstances are serious.