Analysis On Legal Risks Of Internet Consumer Credit In China

Internet consumer finance developed rapidly in 2015. In this rapid development, a series of risks may occur. A research on legal risks in Internet consumer credit can provide reference for the relevant regulatory policies made by the regulatory authorities. In China, It is still not clear that what Internet consumer credit is. Internet consumer credit is a service that lenders provide the money to individual consumers to purchase and use of goods through the Internet and mobile Internet technology, the goods is not include houses and cars. The typical legal relationship of Internet consumer credit is the relationship among the seller, lenders and consumers. After the credit companies and factoring companies join in, the legal relationship becomes more complex. Nowadays the legal system of consumer credit in China is still not perfect, and the legislative level is low, to a certain extent, the lenders will face greater regulatory risks. Because there is no specific regulatory policy, imperfect laws may limit the development of the Internet consumer credit. Internet consumer credit legal risks are the risks on services assess of lenders; risks in credit process including big data credit and personal information security risk; risks on commercial factoring including factoring contract and the validity of transferring contract creditor's rights.