Is it true that loans overdue SMS reminds us to launch Tik Tok storm?

Legal analysis: Due to the malicious breach of the loan, the application is published online, and the executive department will determine the location through the mobile phone.

Legal basis: Civil Code of People's Republic of China (PRC).

Article 671 Where the lender fails to provide the loan on the agreed date and amount, thus causing losses to the borrower, it shall compensate for the losses. If the borrower fails to collect the loan according to the agreed date and amount, it shall pay interest according to the agreed date and amount.

Article 672 The lender may inspect and supervise the use of the loan as agreed. The borrower shall regularly provide relevant financial and accounting statements or other materials to the lender as agreed.