What will happen if loans on online platforms such as Renren Loan cannot be paid off in the end?

In the end, it is impossible to repay loans from online platforms such as Renren Loan, which may lead to the following consequences:

1. Impact on personal credit record: Late repayment or inability to repay will damage personal credit record and affect financial services such as applying for loans and credit cards in the future.

2. High penalty interest and late payment fee: failure to repay on time, high penalty interest and late payment fee, and increased repayment burden.

3. Faced with collection and legal proceedings: For overdue users, platforms such as Renren Loan may take collection measures, including telephone calls, text messages and emails. Remind the repayment, and if it is serious, you can bring legal proceedings.

4. Asset freezing and auction: If the borrower is sued and loses, the court can enforce, freeze and auction the borrower's assets to repay the debt.

5. Being included in the list of untrustworthy people: borrowers who are seriously untrustworthy may be included in the list of untrustworthy people, which will affect their daily life such as employment, travel and consumption.

It is recommended to fully evaluate your repayment ability and loan risk before applying for a loan to avoid adverse consequences caused by inability to repay. If you are already facing repayment difficulties, communicate with platforms such as Renren Loan in time to find out whether it is possible to negotiate repayment plans, and at the same time seek the help of family and friends to minimize repayment pressure.