Can I not repay the P2P online loan, and what will happen if I owe the P2P loan?

P2P online loans cannot be repaid, and if you owe money to P2P online loan platforms, you must also repay the money.

1. Penalty interest and liquidated damages.

If you don't repay the loan, then the first thing you will encounter is high interest and corresponding liquidated damages, if you don't want to get yourself into the loan quagmire, it is best to develop good repayment habits.

2. Credit will be damaged.

Whether it is borrowed from the bank or the money from the online loan platform, if there is a phenomenon of overdue repayment, it will be much more difficult to apply for a credit card or loan in the future. Some people think that the overdue repayment of online loans has no impact on their credit reporting. In fact, this idea is wrong, at this stage, there is a system of interconnection and encryption between the online loan platform and the central bank, and there will also be a shared "blacklist" system in the online loan platform, which can check your credit in minutes.

3. If the circumstances are serious, they will be imprisoned.

If the borrower refuses to enforce or has the ability to repay and insists on being a liar, then the court can pursue the criminal liability of the borrower, and the circumstances are too serious, and the sentence will be imprisoned.

Legal basis] Article 266 of the Criminal Law, where public or private property is defrauded, and the amount is relatively large, is to be sentenced to up to three years imprisonment, short-term detention or controlled release, and/or a fine; where the amount is huge or there are other serious circumstances, a sentence of between 3 and 10 years imprisonment and a concurrent fine is to be given; where the amount is especially huge or there are other especially serious circumstances, a sentence of 10 or more years imprisonment or indefinite imprisonment is to be given, and a concurrent fine or confiscation of property. Where this Law provides otherwise, follow those provisions.

Is it credible that online loans can be borrowed but not repaid?

Generally, in the end, it will go through the legal process.

At present, the P2P online loan platform is not connected to the central bank's credit system, and the online loan will not appear in the personal credit report and will not affect the personal credit record, but this does not mean that the online loan can not be repaid.

For the non-repayment of online loans, the online loan platform will take certain measures, such as penalty interest, according to the bank's calculation method, the penalty interest to be charged is 130% of the loan interest, which is relatively high. At the same time, if the online loan is not repaid, it will be subject to a reminder notice from the online loan platform, and if it still does not repay, other means will be taken or legal procedures will be taken.

Consequences of non-repayment of money on P2P loans:

1. If the lending institution fails to perform the court judgment within the performance period after winning the lawsuit, it will apply to the court for enforcement.

2. When the court accepts the compulsory enforcement, it will inquire about the real estate, vehicles, ** and deposits in the name of the lender in accordance with the law.

3. If the lender has no property in his name that can be used for enforcement and refuses to perform the effective judgment of the court, there will be negative information such as overdue repayment recorded in the individual's credit report and will be restricted from high consumption and entry and exit, and may even be detained by the lawyer.

Legal basis] Article 221 of the Contract Law stipulates that if the loan contract between natural persons stipulates the payment of interest, the interest rate of the loan shall not violate the relevant provisions of the state on restricting the interest rate of the loan.

Article 6 of the Several Opinions of the Supreme People's Court on the Trial of Loan Cases by the People's Court of Ruqingzi stipulates that the interest rate of private lending may be appropriately higher than the interest rate of banks, and the people's courts in various localities may grasp it in accordance with the actual situation in their respective regions.

Legal analysis: If the online loan P2P is not repaid, there will be the following consequences:

1. Online loan P2P will not receive a reminder notice from the online lending platform;

2. May face the risk of losing the lawsuit after being sued, if the lawsuit is lost, the other party can apply to the court for enforcement;

3. It may be recorded in the personal credit reporting system, which will affect daily life;

4. Debts that will be saddled with higher interest rates.

Legal basis: Civil Code of the People's Republic of China

Article 577:Where one of the parties fails to perform its contractual obligations or its performance does not conform to the agreement, it shall bear liability for breach of contract such as continuing to perform, taking remedial measures, or compensating for losses.

Article 578:Where one of the parties expressly states or shows by its own conduct that it does not perform its obligations in the middle of the contract, the other party may request that it bear liability for breach of contract before the expiration of the time limit for performing the duties.

Article 579:Where one of the parties fails to pay the price, remuneration, rent, or interest, or fails to perform other monetary debts, the other party may request payment from the other party.

If the P2P online loan does not repay, if the parties fail to negotiate, they will be sued. The lender may require the debtor to repay the loan within a reasonable period of time, and if the debtor refuses to repay, the lender may prepare a complaint, a copy of the complaint and evidentiary materials, and file a lawsuit with the court in accordance with the law.

[Legal basis].

Article 676 of the Civil Code.

If the borrower fails to repay the loan within the agreed time limit, it shall pay overdue interest in accordance with the agreement or the relevant provisions of the state.

Article 678.

The borrower can apply to the lender for an extension before the expiration of the repayment period; If the lender agrees, it can be extended.

Article 97 of the Civil Procedure Law of the People's Republic of China.

Where an agreement is reached through mediation, the people's court shall draft a mediation document.

Article 120.

A complaint shall be submitted to the people's court, and copies shall be submitted in accordance with the number of defendants.

Article 236.

The parties must perform on legally effective civil judgments and rulings. If one party refuses to perform, the other party may apply to the people's court for enforcement, or the adjudicator may transfer it to the enforcer for enforcement.

Article 244.

If the person subject to enforcement fails to perform the obligations set forth in the legal documents in accordance with the enforcement notice, the people's court has the right to seal, seize, or freeze the property of the person subject to enforcement that should perform the obligation. However, the necessities of life for the person subject to enforcement and the family members they support shall be retained.