Abstract: Abstract: In order to cover the losses of lenders after cancelling the platform guaranty in P2P lending industry, this paper extends the research perspective to the phase of reimbursement and explores the factors affecting defaulter repayment. By using loan default historical data on ppdai.com from 2007 to 2014, this paper emphasis on discussing how the factors of financing availability and the type of defaulter impact the recovery treatment mechanism after default, then conduct an empirical study of the financing availability factors and the defaulter types which effect on default borrows repayment basing on time-serials data and Logit model. The empirical results show that (1) demographic properties and borrowing history, such as male, source of income and loan Amounts, have positive significant effects on repayment, which means the effect of financing availability on repayment after default have been verified partially; (2) Financial determinants is better than credit determinants to identify the P2P defaulter loans that can be recovered, indicating that it’s easier for defaulters to repayment when they are confront of financial distress.(3) Default type has an important impact on repayment after default, which leads the defaulters who have different willingness to repay the loans to be divided into "strategic type" and "financial type". Financial capability is the key factors influencing the financial defaulters reimbursement，as well as the communication channels created by information certification is the main way to recover from strategic defaulters.

Key words: P2P network lending, default recovery, factors affecting defaulter repayment, defaulter types