I borrowed 7000 yuan from Youyi Finance and paid back the first installment of 880 yuan, which was one month overdue. At first glance, it still needs to pay more than 7800. What will happen if I don't

I borrowed 7000 yuan from Youyi Finance and paid back the first installment of 880 yuan, which was one month overdue. At first glance, it still needs to pay more than 7800. What will happen if I don't plan on it? There will be various short messages and phone calls from lending institutions, and frequent phone calls will have a certain impact on the normal life of borrowers and contacts. It will also bear high overdue fees, affect personal credit and even be sued by lending institutions.

Impact of outstanding loans:

1. If overdue users apply for loans, the overdue records will be reported to the central bank's credit information system by the bank, leaving a stain on the borrower's personal credit information report. If the credit information is not good, it may hinder the later handling of credit business. If it is an online loan business. Once overdue, personal credit will also be affected.

2. If the borrower owes a large amount of money and has not paid it after repeated collection by the lending institution, then the lending institution can sue the borrower, and the overdue user will pay it back when the court decides. If the court decides not to repay the loan, then the borrower will be included in the list of untrustworthy people by the court. Not only can untrustworthy people not handle credit business, but even high consumption such as cycling and tourism will be affected.

Extended data:

Related expenses are overdue:

1. As described in the expense description of Youyi Finance, the tolerance period is 1 -5 days after the repayment date, and the late payment fee within the tolerance period is 1% of the daily loan amount. If the loan is not paid after the tolerance period, it is overdue, and 2% of the loan amount is charged as a late fee every day.

2. Borrowing money on this platform requires not only interest, but also a quick credit review fee. According to the platform, there is a fixed amount of account management fee for paying third-party institutions to verify customers' credit information. This practice will increase the borrower's comprehensive borrowing cost, and may involve issues such as charging beheading interest (so-called "beheading interest", that is, deducting interest from the principal when lending money to the borrower). )。

The annualized interest rate of China Economic Net-Youyi Financial Loan is as high as 255.5%.

China Economic Net-Fake loans are not just a credit problem.