What happens when you borrow money?

Have a late fee, have a bad credit record, and be sued.

1. late payment fee: if the borrower fails to repay the loan on time, the borrowing institution will charge 0. 1% of the overdue penalty every day.

2. Bad credit record: If the borrower is overdue, 58 cities will report the borrower's personal information to the financial credit center, which will affect the borrower's future loan application and employment opportunities.

3. Being sued: If the borrower is overdue, the city will sue the borrower. If the prosecution is effective, the court will force the borrower to repay the arrears.