If there is an agreement on the interest of private lending, it shall be handled in accordance with the agreement, and the agreed interest shall not be higher than 4 times the interest of bank loans in the same period. If there is no agreed interest, you can ask for payment according to the bank loan interest for the same period, and the other party agrees.
However, if the other party disagrees, the court will usually not support it in practice. There are many ways to recover the arrears, such as negotiating with the other party and asking for payment. Negotiation is a good way. If negotiation fails, you can entrust a lawyer to send a lawyer's letter to the other party. Lawyer's letter can play a role of reminding and warning the debtor, urging the other party to repay in time and bear the liability for breach of contract, which is much more convenient than judicial channels, but lawyer's letter is not mandatory. If the other party refuses to return it, it will eventually need to file a lawsuit.
If no one can bring a lawsuit to the court, the court will announce the service of the default judgment. After you get a successful judgment, you can provide the court with clues about the other party's property such as vehicles, houses or deposits in the other party's name, apply for enforcement, and freeze the auction of the above property to repay your debts. If there are IOUs, you can use IOUs as evidence. If there is no debit note, you can use other evidence, such as bank transfer records, telephone recording, witness testimony, etc. , which can prove the fact and amount of arrears. The limitation period for disputes over creditor's rights and debts is 2 years, counting from the date when the infringement is known or should be known.