- Supreme Law regulates private lending rates: over 36% partially invalid On the morning of August 6, the Supreme People's Court held a press conference and issued the "Provisions of the Supreme People's Court on Several Issues Concerning the Application of Law in the Trial of Private Lending Cases." The regulations were approved by the 1655th meeting of the Judicial Committee of the Supreme People's Court on June 23, 2015;
- Supreme Law: The private lending rate exceeds 36% partially invalid! A brief summary! In the past 20 years, private lending has been applied to the judicial interpretation in 1994 and the general rules for loans in 1995. The Supreme Court's judicial interpretation formally issued the document as the name of private lending; the general rules for loans have entered history! Loans between enterprises are not always invalid! To the people...
- Beijing's cash lending across the board: no licenses are banned, and the overall rate is no more than 36% Recently, the Beijing Mutual Gold Association held a closed-door conference on cash loans to discuss the cash loan supervision program. According to informed sources, leaders of financial institutions in Beijing put forward the following requirements for cash loan supervision: 1. Without a lending license or a p2p platform, all those engaged in cash loans will be banned; ...
- Heavy! Shanghai Huangpu District Great Remedy Cash Loans: Interest Rates Must Not Exceed 36% Recently, the Huangpu District Office for Internet Financial Risk Special Remediation held a closed-door working conference. At the meeting, the Huangpu District Office of the Office of the Office of the Office of Financial Affairs proclaimed the regulations for the regulation of Internet finance to 24 mutual gold companies. In addition to reaffirming the need for mutual gold companies to implement dual-reduction commitments, Huang Pu...
- Campus Cash Loan Cost Explosion Table 70% Real APR for some platforms The amount of cash loans is generally not high, and the one-month interest expense for a 1,000-yuan loan may be several tens of yuan. However, the actual annualized interest rate for these products is very high, with some reaching 60% to 70%, and some even higher. Related Reading Such cash loans...
The cash loan service fee plus interest exceeds 36%. Can you surrender more than part of the service fee?
Now that the loan interest exceeds 36%, it can be requested that the return is familiar to most people. This view is derived from the “Provisions of the Supreme People's Court on Several Issues Concerning the Application of Law in the Trial of Private Lending Cases.” Article 26 The interest rates agreed between the lender and the borrower do not exceed 24% per annum. If the lender requests the borrower to pay interest at the agreed interest rate, the people's court shall support it.
The interest rate agreed between the lender and the borrower exceeds the annual interest rate of 36%, and the excess interest agreement is invalid.If the borrower requests the lender to return the interest that has been paid for more than 36% of the annual interest rate, the People's Court shall support it.
In fact, "service fees + interest can exceed 36%, can we go back more than some?" The most important issue depends on whether the two sides sign an intermediary contract or a loan contract. If it is an intermediary contract, it is based on the "PRC Contract Law." The provisions of Chapter 23, Intermediary contracts, refer to the contract where the intermediator reports to the client the opportunity to enter into a contract or provides media services for concluding the contract, and the principal pays the remuneration.
It is not the lender but the intermediator who signs the contract with the borrower. The intermediator provides the media service for the lender and the borrower. The service fee should be regarded as intermediation pay and not counted as interest. If you are signing a lending contract, then all fees should belong to interest, and more than 36% of the part can require the lender to return it.
According to Article 26 of the “Provisions of the Supreme People’s Court on Several Issues Concerning the Application of Law in the Trial of Private Lending Cases” issued by the Supreme People's Court on August 6, 2015 (below), it is possible to come back!
The interest rate agreed between the two parties does not exceed 24% of the annual interest rate. If the lender requests the borrower to pay interest at the agreed interest rate, the people's court shall support it.
The interest rate agreed between the lender and the borrower exceeds the annual interest rate of 36%, and the excess interest agreement is invalid. If the borrower requests the lender to return the interest that has been paid for more than 36% of the annual interest rate, the People's Court shall support it.
However, the actual operation will almost never come back for the following reasons:
1. Any legal arbitration requires cost and time to implement, but usually the amount of cash loans is small, and it cannot support the implementation of the arbitration;
2. In most cases, individuals are in a weaker position than cash loans, and no evidence can be given.
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