I borrowed 7,000 yuan from the province. What will happen if I don't?

Small loans or bank loans will not only lead to overdue fees, but also go to the personal credit information system, which has a far-reaching impact:

1) overdue penalty interest. No matter what kind of online loan is applied for, once the repayment is overdue, the lending institution will not only inform the borrower to repay in time, but also charge a penalty interest (some products also have liquidated damages) according to the corresponding standards.

2) Overdue records are recorded in the credit information. Once overdue, it may be reported to the central bank's credit information system.

3) Collect in various ways. If the borrower fails to repay the loan, the lender will go through the collection procedures in order to recover the arrears, such as SMS collection, telephone collection and door-to-door collection. Not only will your life be affected, but if you leave emergency contact information or look through the address book, your relatives and friends will also be harassed by various collection calls.

4) You may be sued. If you owe a lot of money, you will be forced to auction your own property by the court. If you don't become an "old lai" within a time limit, you will be restricted to take high-speed trains, planes and other means of transportation.

5) Once there is a bad record, the audit institution will be more cautious in the evaluation of future loans, which is not conducive to lending.

References:

A press conference was held on the day of the Second Session of the 13th National People's Congress. In view of how to crack down on "deadbeats" who have the repayment ability but don't pay back the money, or even intentionally transfer or hide assets, Liu Guixiang said that the situation of concealing the transfer of assets and evading execution by using the relationship between affiliated companies and shareholders can be solved through the linkage mechanism of "establishment, trial and execution".

He said that it is necessary to fully and effectively use various means of inspection and control, such as auditing accounts and enterprises, announcing rewards, and mobilizing the masses to report, to find the property clues of "Lao Lai" in order to effectively crack down on evading execution and evading execution.

At present, China has included Lao Lai in the list of dishonesty and imposed joint credit punishment on him. Liu Guixiang said that in recent years, since the implementation of the dishonesty list system, more than10 million people have been included in the dishonesty list.

There is no contradiction between publishing the relevant information of the person who has lost his trust and privacy protection. The court does not publicly expose all untrustworthy people, and the public content is strictly limited to the scope permitted by law. In addition, even if the information of the untrustworthy person can be made public according to law, the court will take technical measures to protect privacy as much as possible.

People's Network-Supreme Law: We will make full use of various means of investigation and control to crack down on "Lao Lai"