The online lending platform closed down and retired. Do you need to pay back the money owed by the borrower?

We all know that the main source of funds for online lending platforms is investors, and the platform itself is just an information intermediary. The collapse of the platform will not affect your own debt relationship, because your creditors are investors, ordinary investment users, not online lending platforms. Investors are certainly reluctant to squander their money. As creditors, they have the right to recover debts from you or report the case directly, so that the court and the economic investigation can recover debts from you on their behalf.

The online lending platform was taken over by another platform.

Online lending platform A is taken over by another platform B, which is what we often say: new boss, new recipient. In this case, the debt relationship of Platform A has been transferred, and as a lender, your loan relationship with the platform has also been transferred to a new platform, but this transfer does not mean that the loan relationship disappears, and you have to pay back every penny.

Once the lending channels of old platforms such as official website, app and WeChat official account resume operation, or switch to new platforms, borrowers will still receive repayment messages on time. If you breach the contract at this time, you may be collected or even prosecuted.

Policy reasons led to the withdrawal of the platform

This platform is actually quite helpless and could have continued to operate. In order to control financial risks, the government has taken the initiative to reduce the number of platforms, reduce the scale of platform collection and raise the operating threshold. Many small and medium-sized platforms have no choice but to quit slowly. In fact, the impact on investors and borrowers is very limited, and everything remains the same. However, if the platform is rectified due to usury, for example, the applied loan is beheaded and the interest rate is higher than 36%, you can negotiate with the platform to reduce the repayment interest and compensate for your own losses.

In a word, the compliant online lending platform needs to pay back the money, depending on the situation.

We can't deny that there are some more formal online lending platforms, which are caused by various mismanagement. In this way, after bankruptcy, because the assets have not been paid to the creditors after the bankruptcy process, only the debtors can repay the money they owe, and they are likely to accept the credit investigation as soon as possible. However, non-compliance also depends on the situation.

Some non-compliant platforms often cheat debtors, or make debtors owe more and more money through various means, and they need to pay back the money after paying it according to the rules recognized by law, which is not a small expense for many borrowers and brings a serious burden to families. In this case, it is recommended not to return it.