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What is a legal warning message to pay arrears?
Loans overdue usually refers to the phenomenon that after the loan expires, the borrower fails to repay the loan principal and interest, and the loan contract agreed by the bank according to the loan term has not gone through the relevant extension procedures, resulting in the loan exceeding the agreed term.
According to the relevant provisions of the Contract Law, the borrower fails to repay the loan within the agreed loan contract period, which is a breach of contract and should bear the liability for breach of contract. Liability for breach of contract includes repayment of loan principal, payment of interest during the loan period agreed in the contract and payment of overdue interest.
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