New features of private lending phenomenon

this year, jianhu County, Yancheng City Court handled cases of private lending 901, involved a total of nearly 117 million Yuan. After analysis, found that such cases show a few new features.

high interest cover. Professional lenders means of circumventing the law in our society more and more, through the use of "total principal and interest", "contract of yin and Yang" "buckle card" more subtle forms, such as the agreed arrears, actual loan annual interest rate above 50%, a small number of cases as high as 120%. During the hearing, notwithstanding the defence of usury by the debtor, without solid evidence, makes Court passive high rate of creditors "accomplices". False loan guarantees.

accept private lending cases so far this year, any guarantor, accounted for more than 99% of the joint and several guarantee for the prosecution, actual repayment obligations of guarantor of up to 70% and even collusion between the creditor and debtor, by transfer to the debtor's account the same day, next day transfer to the third false credit accounts to entrap the guarantor, the actual fact is difficult to identify. According to statistics, nearly 20 such cases have been.

increase in debtors and run. Amount of Super million in the case of private lending, 65% of the debtor's home, missing, preventing the cases from direct service, this year by service by publication of about 200 pieces. In addition, such debtors tend to borrow from more people, and more involved, up to 28 pieces involved, credit loan, borrow yangxi is widespread. High rate of application for enforcement. The plaintiff in such cases for the purpose of profit, and the absence of the debtor or the trial, or delegate representatives to participate in the proceedings both borrow facts controversial, difficult to reach a mediation agreement. This year, the mediation in such cases withdrawal rate is only 37.4% and apply for execution rate of 69%. Involving the County's 21 "known" cases lenders about 123, 13.6% of the total lending case.

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