Rong 360 loans overdue can't repay.

Legal analysis: The consequences of loans overdue's failure to pay back are not only high penalty interest and liquidated damages, but also personal credit. Once in loans overdue, there will be overdue records. If loans overdue doesn't pay it back, the lender will first collect it by SMS or telephone. If you still don't return it after collection, you will bombard your family and friends with text messages and phone calls, which will seriously affect your life and work.

Legal basis: Notice III of the People's Bank of China on the relevant issues concerning the interest rate of RMB loans. About penalty interest. The default interest rate of overdue loans (loans that the borrower fails to repay on the date agreed in the contract) is changed from the current daily interest rate of 2. 1% to 30%-50% higher than the loan interest rate agreed in the loan contract; If the borrower fails to use the loan as agreed in the contract, the penalty interest rate will be changed from the current daily interest rate of five ten thousandths to 50%- 100% of the loan interest rate agreed in the loan contract. For loans that are overdue or not used according to the purpose agreed in the contract, interest will be charged at the default interest rate from the date when they are used in loans overdue or not according to the purpose agreed in the contract until the loan principal and interest are fully paid off. For the interest that cannot be paid on time, compound interest shall be calculated at the penalty interest rate.