What are the consequences of Hengyi Loan?

It is normal to borrow money. Ordinary people want to apply for a loan from a loan company at the first time when they are short of money. Compared with applying for a loan from a friend, the loan company's quota may be higher and more convenient. So, what are the consequences of Hengyi Loan?

What are the consequences of Hengyi Loan?

1 If the loan is not repaid, it will affect personal credit information. If the financial institution that lends money is formal, the overdue record of the user will be uploaded to the credit information;

If the user fails to repay the loan on time, there will be additional penalty interest and liquidated damages. However, users need to pay attention to the fact that interest beyond the national standard can be repaid without repayment;

For borrowers of informal financial institutions, if the overdue amount is large, they will be harassed by collection calls and text messages. In addition, there will be things like door-to-door collection.

All of the above are the consequences of Hengyi Loan. The specific consequences are as follows. I hope I can help you. All the above effects need to be understood by borrowers and overdue borrowers of Hengyi Loan. For overdue users, it is best to repay on time, so as not to affect personal credit information.