1. There is no agreed interest on the IOU. Can I ask the borrower to pay interest when I repay the loan?

If no interest is agreed, the creditor cannot demand interest from the debtor when demanding repayment. If the repayment period is agreed at the time of borrowing, or if the creditor has urged the debtor to repay within a certain period, and the debtor still fails to repay within the time limit, the creditor may require the debtor to pay the interest on overdue repayment.

Interest-free IOU: According to Article 680 of the Civil Code (202 1, 1 comes into effect), "If the loan contract does not stipulate the payment of interest, it shall be deemed as no interest. If the loan contract does not specify the payment method of interest, and the parties cannot reach a supplementary agreement, the interest shall be determined according to the local or the parties' trading methods, trading habits, market interest rates and other factors; Loans between natural persons are regarded as interest-free. "Therefore, if there is no agreed interest in the IOU, or the agreed interest is unknown, it is regarded as an interest-free IOU, and the borrower does not have to pay interest within the agreed loan period. However, for interest-free IOUs, if the borrower fails to repay at maturity (agreed repayment date) or fails to repay after being urged (not agreed repayment date), the lender may require the borrower to repay overdue interest or interest after being urged.

Interest-bearing IOUs: According to Article 680 of the Civil Code, "the loan interest rate shall not violate the relevant provisions of the state." .

In addition, according to the provisions of Article 670 of the Civil Code, "the interest of the loan shall not be deducted from the principal in advance. If interest is deducted from the principal in advance, the loan shall be repaid according to the actual loan amount and interest shall be calculated. "

2. What should I do if the other party does not pay back the money when the IOU expires?

If the other party fails to repay after the expiration of the IOU, it may first negotiate to ask the other party to repay, and then continue the dunning. If it still refuses to give the loan and maliciously evades repayment, it can bring a lawsuit to the court, and the court will make a judgment on repayment. The effective judgment has the force of enforcement.

Third, does the IOU have legal effect?

If the IOU is written in detail, the parties have normal intelligence and clear heads, and the legal effect is equivalent to the loan contract. Have legal effect.

Notes on IOUs

For legal problems, prevention is always the first, and remedy is the second. In addition to writing IOUs, we should also pay attention to the borrower, the date of borrowing, the date of repayment, the borrower's signature, the amount of borrowing, the reason for borrowing, etc. And don't make any mistakes. Besides, you should pay attention to the following five points:

(1) It's best to attach the ID numbers of the lender and the borrower to the debit note to avoid unnecessary disputes.

(2) When the borrower signs, the lender must witness his own signature to prevent the borrower from signing with others, and finally refuse to recognize the IOU.

(3) The borrower must be the borrower, not the lender, otherwise the borrower will argue that the content is not the original.

(4) Try to avoid using language that is prone to disagreement. Simple and semantically simple IOUs are the most standard IOUs. Avoid vague language like "A borrows money from B", because it is easy to tell who is the lender and who is the borrower.

(5) Names should be written as IOUs, not IOUs, and their legal meanings are quite different.

Article 667 of the Civil Law defines a loan contract as a contract in which the borrower borrows money from the lender, repays the loan at maturity and pays interest.

Article 668 A loan contract shall be in written form, except as otherwise agreed between natural persons.

The contents of a loan contract generally include terms such as loan type, currency, purpose, amount, interest rate, term and repayment method.

Article 669 The borrower has the obligation to truthfully provide information to conclude a loan contract, and the borrower shall truthfully provide the business activities and financial status related to the loan as required by the lender.

Article 670 The loan interest shall not be deducted in advance, and the loan interest shall not be deducted from the principal in advance. If the interest is deducted from the principal in advance, the loan will be repaid according to the actual loan amount and the interest will be calculated.