Recently, the news that "400 college students borrowed campus loans and didn't repay the defendants to court" has attracted a lot of attention from all walks of life. For many college students, they may not be able to resist their inner vanity, so they choose to meet their desire through such a way of borrowing. So what is the 704 part-time school flower scam? Let's get to know.
More than 400 college students from Guangxi, Jiangxi, Guizhou, Hunan, Hubei and other places, who borrowed money from a financial investment company in Guangxi to buy high-end mobile phones, were unable to afford the money, and finally became defendants. Only three of them returned the principal after the judge's Cross provincial mediation, the report said.
As soon as the news came out, many netizens accused these college students of evading responsibility and borrowing money to enjoy, etc.; however, some people thought that "campus loan" was a big hole, and college students lacked social experience, so there was a reason for this. But what is the truth of the matter?
The students involved said that the repayment of part-time jobs in 704 company was unstable due to the lack of app
The reporter of the rule of law weekend learned in an interview that these college students' lawsuits are closely related to a product called "704 school flower". '704 school flower' is a 'Part-time exchange purchase' product launched by Guangxi 704 Financial Investment Co., Ltd. (hereinafter referred to as' 704 company '), which provides loans and goods installment exchange purchase for college students, and college students repay loans by part-time or cash repayment.
In January 2016, Li Qi (pseudonym), a female college student in Changsha, Hunan Province, learned that the "704 campus flower" project is engaged in activities. Students can first get electronic products such as computers, and then repay through the part-time payment provided by the "704 campus flower", without paying a penny.
At that time, Li Qi was also looking for work study opportunities, so she joined the project and downloaded the '704 school flower' app. According to the project agreement, Li Qi's purchase of this computer needs to be paid off by doing a part-time job for one year, 36 hours a month. If the part-time time time is not enough, the bill needs to be deducted by 13 yuan / hour.
Later, Li Qi was drawn into the QQ group of a '704 school flower' project, where the staff would post part-time information such as street hair flyers and small advertisements.
But it's very difficult to get a part-time job. Li Qi recalled that when a part-time post was released, many people would rob it. In May 2016, Li Qi failed to get a part-time job and failed to complete the required hours, so she remitted cash as the payables according to the standard; in the following August and September, it was the same situation, and she could only use the corresponding cash to repay.
At the end of October of the same year, she asked the staff of 704 company if she had paid off the bill and got a positive reply. However, in November, she received the other party's collection information, saying that she had more than 300 yuan of bills outstanding in May, resulting in a overdue fee of 3988 yuan.
'for normal repayment, the interest rate is within the acceptable range. Now the main problem is that the company does not remind students when they are overdue, and the overdue fee is calculated based on the principal of all loans, which makes it hard for everyone to bear. "On July 9, Li Qi told the reporter of the rule of law weekend that her principal has been paid off basically. Because she thought the overdue fee was unreasonable, she did not pay the overdue fee and the other party did not urge her to pay any more.
Li Qi's encounter is not a case, and more than 400 college students have been accused.
According to the surging news report, many students involved in the "campus loan" dispute also found that part-time jobs were few and hard to get after signing the contract, which led to many students having to pay in cash; after that, 704 company launched an app to ask for repayment through the app, but there were many technical problems with the app, such as overdue repayment, unable to top up repayment, etc.
Many students think that their overdue payment is not intentional non repayment, but related to the improper management of 704 company. The platform staff only informed the students after a long period of overdue, at this time, the overdue fee has reached thousands of yuan; moreover, if the overdue payment is not made, five thousandths of the loan principal needs to be repaid every day. This calculation method is unreasonable, and many students think that they have been cheated by '704 school flower'.
The reporter noted that although more than 400 college students became defendants as a result, a number of students involved in the'704 campus loan said, 'I don't know whether I was sued by the platform'. They said that the overdue fee of '704 school flower' is unreasonable and the principal should be returned, but they are not willing to bear such a high overdue fee.
Court: no one answers the lawsuit actively, only 3 people sign the mediation agreement
According to media reports, since the end of 2017, the high tech court of XiXiangTang District Court of Nanning City (hereinafter referred to as XiXiangTang court) has accepted hundreds of loan contract disputes involving 704 company's' 704 school flower 'products.
In an interview with the media, judge Huang Zhige, who sponsored the case, said that the loan amount of each case was about 7000 yuan, mostly used to buy high-end mobile phones and computers. From the current prosecution, these students come from Guangxi, Jiangxi, Guizhou, Hunan, Hubei, Sichuan, Henan and other provinces and regions of different universities.
On July 6, at the weekend of rule of law, the reporter called XiXiangTang court, and the staff said that the relevant college students could call the court to check whether they were prosecuted for the "704 school flower" project. For the reporter's request to further interview the judge in charge of the case, the staff said that they would feed back the situation to the person in charge. As of July 9, the reporter had not received a reply.
The reporter noted that on June 22, the XIXIANGTANG Court released the follow-up news of the incident. As of the beginning of June, there were more than 120 cases in the series, and more than 200 cases were being filed. After the cases entered the trial stage, none of the students came to the high tech court to respond to the lawsuit, and the legal documents mailed by the court according to the name and address of the photographer were often rejected.
According to the former media reports, the negative response of students in school caused judges' concerns. Therefore, in early June, the judges of the high tech Court went to Guiyang City, Guizhou Province, to learn about the specific situation of the students' colleges and universities. At the same time, the plaintiffs of a series of cases issued a settlement plan to the judges of the high tech Court: 'for example, the defendant paid off the principal and litigation costs in a lump sum, the plaintiff gave up interest, handling fees Claim for liquidated damages (stipulated in the contract) and agree to close the case. "Although three students from a university in Guiyang reached a mediation agreement with the plaintiff, no more students actively contacted the judge during the week when the judges returned from Guiyang to Nanning.
The official website of the company involved in the lawsuit could not be opened, and the app could not be registered
According to the national enterprise credit information publicity system, 704 company was officially registered and established on July 13, 2015. Its legal representative is Pan Jianpeng, and its registered address is room 905, building a, Nanning advertising industrial park, phase III complex building, China ASEAN enterprise headquarters base, No. 28 Binhe Road, high tech Zone, Nanning city. The business scope of the company is labor subcontracting service and financial industry entrusted by financial institutions Dozens of business process outsourcing services.
In addition, according to the data of tianyancha, the enterprise query platform, 704 company has obtained two rounds of investment, with angel round financing of nearly 10 million yuan, Goldman Sachs as the investor, pre-A round financing of 20 million yuan, and Hongyi capital as the investor.
In order to further understand the situation of more than 400 college students being listed as defendants, in July 6th, the rule of law Weekend reporter called the contact telephone which was checked by the sky eye, but prompted the number to be empty. The company's website has also been unable to log in. Its official WeChat public number is updated at the latest time in February 22, 2017.
On the same day, the reporter found that there was no information on the platform after downloading and installing the 704 school flower app through android app. When he obtained the mobile phone verification code to register, he also prompted "registration failed".
Expert: college students refuse to pay or blacklist
Li Honghan, a researcher at the financial innovation center of Zhongnan University of finance, economics and law, said that although the '704 campus flower' platform provides part-time opportunities for students, if the part-time time time of college students is not enough every month, they need to use cash to offset the bill. This is a disguised loan, which belongs to the campus loan. In the whole event, the 704 campus flower platform mainly has several problems: less part-time jobs and will still come out after paying back the money Now the breach of contract and the notice of breach of contract are not timely, which leads to high overdue fees for some students.
Deng Jianpeng, a professor of Law School of Central University for nationalities, thinks that the basic feature of campus loan is that the platform issues cash loan or installment shopping to college students. 704 campus flower is slightly different from the general campus loan. College students can repay it through part-time labor service. Although the repayment methods are different, in real life, the repayment method of part-time labor service can also be converted into cash repayment Therefore, it is still a campus loan in essence.
The reporter learned that in recent years, there have been frequent occurrences of usury, violent collection and naked loan in the field of campus loan. Since 2016, many ministries and commissions including the CBRC and the Ministry of education have successively issued documents to rectify campus loans. In June 2017, the then China Banking Regulatory Commission, the Ministry of education and the Ministry of human resources and Social Security jointly issued the notice on Further Strengthening the standardized management of campus loans, explicitly banning the campus loan business, and no online loan institution is allowed to issue loans to college students.
Deng Jianpeng said that the '704 school flower' business is mainly carried out in 2016, so it is difficult to say that it violates the administrative regulations. If it continues to carry out business after June 2017, the company may be subject to administrative punishment by the regulatory authorities. However, as college students, they still need to repay the corresponding principal and reasonable interest. However, the part exceeding the annual interest rate of private lending set by the Supreme People's court can be exempted.
Gao Caiye, an analyst with tianyan.com.cn, also believes that since students and platforms have signed relevant contracts before the administrative provisions of banning campus loans were issued in June 2017, they should repay according to the provisions, including principal, litigation costs, interest, handling fees, liquidated damages, etc., but if the annual interest rate exceeds 36%, students have the right to refuse to repay the excess. 'students should face up to the legal risks brought by their irrational consumption behaviors. If they still face the negative risks after the platform goes to court, they will not only be on the blacklist of dishonesty, leaving a stain on personal credit, but also need to repay the loan. "Said Gao Caiye.