Is the legal notice true?

This is not true. This is a collection method, which is often used to collect debtors.

But generally, these online lending platforms will not sue at all, or the probability of suing you is extremely low. Even if you really owe tens of thousands of dollars, they won't sue you. The first is the cost of prosecution. Generally speaking, if you owe thousands of dollars, it is estimated that the cost of suing you by online lending platform is more than the money you owe. Therefore, the online lending platform will not sue debtors with small debts at all. Secondly, there are many users of online lending platforms. If each debtor wants to sue specifically, the workload of the online lending platform will greatly increase, exceeding their affordability, so it is unrealistic for the online lending platform to sue the debtor.