Can I apply for relief if the last installment of Hengyi Loan is overdue?

It's hard to apply for relief after the deadline, unless you have been dragging your feet and there is nothing you can do after the company's dunning. In this case, they are willing to give you relief But the main relief is interest, and the principal will not be reduced.

Loan is a form of credit activity in which banks or other financial institutions lend monetary funds at a certain interest rate and must return them. Simply put, it is borrowing money with interest. According to different repayment periods, loans can be divided into short-term loans, medium-term loans and long-term loans; According to different repayment methods, loans can be divided into demand loans, term loans and overdrafts.

The loan term refers to the period from the effective date of the loan contract to the last loan principal or interest payment date. The loan term is generally proposed by the borrower, determined after consultation with the bank, and included in the loan contract.