In this era, technology and internet penetration are advancing rapidly and massively, including in Indonesia. The use of technology and internet greatly facilitates the public, from its speed, practicality, its efficiency to reduce time and energy use, and to reduce costs. Those factors support the creation of various innovations in digital-based financial services products, which is popularly referred to as financial technology or abbreviated as Fintech. One of the most popular Fintech is called Peer-to-Peer (P2P) Lending, which is the practice of lending and borrowing money to individuals through online services. Among all the benefits that P2P Lending offers, P2P Lending still has its own risks that can harm consumers. One of the risks is when the debtors failed to repay the loans (the risk of default). Therefore, empirical normative research with secondary and primary data was conducted to analyze and formulate the results of this research. This research will mainly discuss the regulation of P2P Lending in Indonesia, which is Financial Services Authority Regulation No. 77/POJK.01/2016 concerning Information Technology-Based Lending Services. This research would also discuss what P2P Lending platforms can organize to mitigate the risk of default. In addition, this research will also discuss what P2P Lending platforms can effectuate when the debtors have defaulted or failed to pay back the loans within 90 (ninety) days. From this research, it can be concluded that the regulation in Indonesia has not been adequate enough to protect the creditors when the debtors are failing to repay the loans.