What happens if ants borrow it?

As a formal consumer credit product, lending is very strict. If it is overdue, the platform will take a series of measures and bear the corresponding overdue consequences. Generally speaking, the consequences are as follows.

1, the credit report will be hurt.

The platform will report the overdue situation to the credit. Once a stain is left on the credit information, future credit activities and even applying for some positions will be affected.

2. It will be collected by the platform.

In order to protect its own rights and interests, the platform will contact the overdue person by phone or SMS to urge the arrears to be paid off as soon as possible.

3. Calculate overdue penalty interest.

Once overdue, in addition to normal loan interest, the platform will also calculate overdue penalty interest. The longer the overdue period, the more penalty interest will be generated, and the greater the debt pressure will be.

4. The loan amount will be reduced or frozen.

After the overdue period, the risk has increased. In order to control risks as much as possible, the platform will naturally limit the continued use of loans, so it will limit the loan amount.

5. The platform will ask to settle the arrears in advance.

Originally, I applied for multiple repayment deadlines, but after the deadline, the platform would terminate the loan contract ahead of schedule, demanding that all the arrears be settled in advance, which increased the repayment pressure.

6. Malicious overdue will be prosecuted by the platform.

Although under normal circumstances, the platform will not sue for overdue loans, if it deliberately defaults on loans, the platform may protect its rights and interests through legal channels, and it will bear greater pressure in this step.

Therefore, when applying for a loan, you should keep calm and don't apply for a loan beyond your financial ability.

It is suggested that you can know your current credit situation in Xiaoqi Credit Information, get rid of the bad habit of applying for loans, and cover up your dishonesty with a new good record of fund use.

Extended data:

Why can't I borrow money when there is still a quota?

Borrowing, there is still a limit, but it can't be borrowed. This is caused by the following reasons.

1, there is something wrong with the credit report.

Lending treasure is a pure credit loan product, and the requirements for credit investigation are strict. If you leave a record of non-performing loans or long-term loans on the credit information because of some overdue behaviors in the past, these are things that make lending more worrying. In order to control the risk, the loan will refuse the loan application.

Because of my own credit problem, there is no good way to solve the problem of borrowing money, so I can only try to borrow money after my credit is repaired, which will take a lot of time.

2. The income does not meet the requirements.

When applying for a loan, it is necessary to have a stable and sufficient source of income, which is the guarantee to repay the loan on time. If the revenue does not meet the requirements of the platform, the platform is naturally not at ease.

The debt ratio has risen too high.

If you apply for other online loan products other than loans, your debt ratio will rise sharply. In this case, the borrower will worry about the future repayment pressure, and you will not make any repayment in order to control the risk. In order not to affect your credit activities, you need to control your debt ratio.

4. Personal information is out of date.

You need to upload your ID card in Alipay and pass the real-name authentication before you can use some of the above functions. If the uploaded ID card expires, you need to update your identity information in time for the loan application that you will not agree to according to the compliance requirements.

5. The system is being upgraded.

This situation also exists. In order to provide better service, the platform may update the system and temporarily close the loan channel during the update process, which will affect the loan application in a short time. In this case, it will be fine after the system is updated.

6. Illegal use of loans.

Although the amount on the IOU can be withdrawn, it does not mean that it can be taken out and used casually. As a loan product, loan itself has a certain scope of use. For example, you can't use loans to manage money and buy a house, and you need to use the credit line within the scope agreed in the loan contract.

7. The account number is abnormal.

For example, frequently changing login devices, or being in an unsafe network environment for a long time, in this case, the risk factor of your Alipay account will increase, and you will naturally encounter trouble when applying for a loan.

8. It is impossible to borrow money for network reasons.

If the network environment for loan is poor and the system can't receive the loan request, in this case, the loan can't be successful, and you can apply for a loan in a good network environment.

9. System problems.

If there are some errors in the system, such as loopholes or network congestion, there will also be cases where there is a quota but the loan cannot be made. You can wait a while before applying for a loan.

It can be seen that there are many reasons for the loan amount, but they just can't be borrowed. Don't worry too much in the future. You can compare your actual situation patiently, see where the problem lies, and try to solve it. Maybe we can get the loan back to normal.