What will happen if Baidu wallet doesn't pay back the money? Will it be collected at the meeting?

With the rapid development of Internet technology, more and more people begin to borrow money on peer-to-peer lending platforms, because the procedures are simple and the accounts can be received quickly. But when choosing a peer-to-peer lending platform, do we generally care about the credit information of this platform? As someone asked recently, what will happen if Baidu wallet doesn't pay back the money? Is there any credit information at the meeting? For these questions, I believe that after understanding Baidu wallet, we will have the answer.

In fact, the current name of Baidu Wallet is Du Xiaoman Wallet, which is a third-party payment application and service platform under Du Xiaoman Finance (formerly Baidu Finance). Xiaoman Wallet provides links to major consumer scenes including Baidu APP, network disk, map, post bar, iQiyi, etc., allowing users to easily enjoy the one-stop payment experience in the mobile era.

And the general online lending platform, if there is a consequence of not paying back the money on Baidu wallet:

Generate penalty interest: pay more debts later. If Xiaoman Financial's credit service brand is overdue, it will charge the borrower overdue interest on a daily basis. From the overdue date of the user, the overdue fee is calculated at 0.5 times of the normal interest rate of 65438+ until the borrower pays off all the debts. In order to avoid default interest, the borrower shall not be overdue. Because the default interest will be calculated after the loan expires, if you don't repay it for a period of time, you will find that you have already owed more. Therefore, after the loan on Baidu wallet expires, if there is no turnover of funds, we can choose to pay off part of the debt first, so the interest will be less.

Impact on credit reporting: Micro-loan of credit products under Tencent Weizhong Bank, Lending Treasure under Ali Alipay and Youhuahua under Baidu Xiaoman Finance, as the three formal credit service brands of BAT, fulfill their reporting obligations in strict accordance with the credit reporting management norms of the People's Bank of China, so the loans with rich flowers will be reported at the meeting, and the loan and return records with rich flowers will be reflected in the credit reporting report of the People's Bank of China.

Consumer loan products are connected to personal credit information to help financial institutions evaluate users' personal credit status, and only truthfully feed back your historical usage records. At the same time, your good credit loan repayment record will become your "positive information", which is conducive to the accumulation of your personal credit level and a good credit certificate for applying for other loans.