Is it illegal to collect online loans and explode address books?

Explosive address book is the main means of online loan collection now. Because online loans are operated through the Internet and mobile phones, it is impossible to accurately know the borrower's address and conduct face-to-face audit and collection. Therefore, using mobile phones as a collection medium has caused many illegal acts. If the circumstances are serious and have a serious impact on the borrower and his family and friends, it is actually illegal. You can collect evidence and call the police.

China law has provisions on loan interest. If the loan interest agreed by both parties exceeds the annual interest rate of 36%, this kind of loan is called usury and is not protected by law. The borrower has the right to demand the lender or lending institution to return the paid interest.

Some borrowers with an annual interest rate of over 36% may not need to repay. The court supported this approach. Pay attention to the extra parts, not all. If the court is really in trouble, you must pay off the interest and principal within 24%.

In daily life, we often face the problem of lack of money at hand. Online lending is a good way to borrow money. Many banks and financial institutions also have online loan products. However, some people often fall into the trap of swindlers. It is necessary to know more legal knowledge.