China Post Consumer Finance has been overdue for more than a year. It sent me this text message, saying that it is to verify the property under my name and directly deduct and freeze it. Is it true?

It’s true. Banks have regulations that if you fail to repay after a certain period of time, you can freeze your assets and handle them through the court.

China Post Consumer Finance does not have this right, only the court has it. The content of the text message is to scare you. Of course, they will bring evidence to the court. If you don't go to the court, the court will rule that you lose the case, and it will definitely be implemented. The court will freeze your account.

Extended information:

The consequences of not repaying the loan after the due date:

1. It is best to continue to use this card. After overdue, the best way is to continue to use this card and use the new normal repayment record to overwrite the original negative record. Generally, a new credit record will be generated after 24 months. In this way, after the record is refreshed, personal credit, etc. will not be affected.

2. Never run away. If you are overdue for a long time, your credit card will charge compound interest and there will be high late payment fees. If you run away, the bank will think that you have maliciously overdrafted and will call the police.

3. If you are unable to repay the loan, you must explain it promptly. If you are unable to repay on time due to unemployment or illness, you can apply for deferred repayment and interest discounts before the final repayment deadline by stating your financial situation and stating that you do not owe money maliciously.

4. It is best to repay in full and explain. If you forget to repay due to your usual carelessness, you must repay in full as soon as possible after you find it is overdue, preferably in full, because after repaying in full, you have the best chance of winning if you call the bank to explain that the debt is not malicious and request to eliminate the overdue record.

If the borrower repays the loan overdue, overdue interest and liquidated damages will accrue. In order to recover the loan, the recovery costs (including but not limited to attorney fees) that the lender or third-party guarantee agency must pay should also be borne by the overdue borrower.

In addition, Jiujiudai will formally record the relevant information of overdue borrowers as "bad credit records" in the credit reporting system of the People's Bank of China. Depending on the situation in different regions, these records will be retained for at least five years. It will have an impact on other credit behaviors of overdue borrowers.

The third-party guarantee institutions that Jiujiudai cooperates with also reserve the right to take legal measures against overdue borrowers, and all legal consequences arising therefrom will be borne by the borrower.

Therefore, the borrower should ensure that there is sufficient balance in the account before the repayment date to avoid overdue payments. We advocate law-abiding and integrity and strive to build a harmonious and win-win investment and financing environment.