With the rapid growth of Internet finance and the rapid rise of the network lending industry, many have chosen to resort to network lending to meet short-term financial needs. However, at an early stage when Internet financial management was not yet complete, the collections of Internet lending institutions were extremely poor, including telephone calls, text-message harassment and even the falsification of photo distributions. Although the online lending market is now effectively regulated, there are still borrowers who will receive indictments from a caller. So, how much is owed to the Internet? Today, let's find out about the collection process for the overdue online loans。

How many Internet mortgages are usually charged? The Internet loan's overdue collection process

First, it should be noted that there is no uniform regulation of the collection policy by companies and that there are differences in local laws and regulations, so it is not possible to give a specific amount as a reference. However, it is certain that there may ultimately be a risk of prosecution or criminal liability if the borrowing is long overdue and the repayment obligation is not fulfilled。

In most cases, private microfinance products do not easily sue borrowers for the following reasons:

1. **The cost of prosecution is high**: the longer the prosecution period, the higher the cost. Network lending institutions also need to set up a dedicated team to follow up on progress, which will take at least six months from prosecution to final judgement. Instead of spending a great deal of time and effort on prosecutions, these agencies prefer to make simple calls, such as frequent telephone calls。

2. ** THE HIGH INTEREST RATES ARE ILLEGAL**: THE BANK HAS OVERHAULED THE INTERNET LENDING MARKET AND MANY UNREASONABLE AND ILLEGAL INTERNET LENDING INSTITUTIONS HAVE BEEN BANNED. IF AN INTERNET LENDING PLATFORM HAS AN ANNUAL INTEREST RATE IN EXCESS OF 36%, IT IS NOT ELIGIBLE FOR LEGAL LENDING. PROSECUTING SUCH INSTITUTIONS WOULD BE TANTAMOUNT TO SELF-INFLICTED ACTION, SO FEW WOULD BE WILLING TO DO SO。

It should be noted that in the case of bank loans, the bank may sue the borrower if the delay exceeds 90 days. Bank debts are contractual disputes, and the bank has the right to take proceedings before the court, irrespective of the amount of the debt. However, any prosecution would take a particular amount of time and effort, so that even if the prosecution was successful, it would often not be in proportion to what had been achieved. As long as the amount of the arrears is small and the delay is not long, the bank will not normally be able to initiate proceedings easily。

In general, in selecting web-based lending products, care is taken to consider information on interest rates, contract terms and associated risk tips. Bearing in mind “input, moderate consumption”. Only the right use of financial loans could address the current predicament, rather than creating greater problems and risks for themselves。