Worst plan for overdue online loans

1, high penalty interest. No matter what kind of loans are overdue, they will face high penalty interest and liquidated damages, including credit cards. I don't need to say more about the news events of violent collection. There is only a slight improvement since 20 17 1 1. The most common violent collection methods encountered by many netizens before are: (1) bombing the debtor's mobile phone address book by phone or SMS, causing troubles to individuals and their relatives and friends; (2) verbal threats, personal attacks, and even direct threats to family and friends; (3) Illegal collection in the debtor's unit or home, resulting in damage to the debtor's reputation; (4) Pretending to be a public official of a higher authority to violently collect debtors, etc. 3. Personal privacy information is illegally disclosed. Speaking of this, I have to talk about the sensational campus loans and naked loans, taking nude photos of borrowers, and posting photos, ID cards and personal information of borrowers online if they don't repay on time, which has brought great trouble to borrowers. The defendant went to court, was sued by the lending company, and went to court. Such cases have been common for a long time, but because of the long time period and high cost of court judgment, the loan company is not willing to go to court when the general amount is not very large. 5. Credit information is damaged. Credit information is an important document to record personal credit records, which accompanies our life. If there are black spots in credit information, it will have a far-reaching impact on your other financial business beyond our imagination. Bad credit means that you can't apply for loans, credit cards, etc.

Legal basis:

People's Republic of China (PRC) Civil Code

Article 674 The borrower shall pay interest at the agreed time limit. If the time limit for paying interest is not stipulated or clearly stipulated, and cannot be determined according to the provisions of Article 510 of this Law, if the loan period is less than one year, it shall be paid together with the loan; If the loan term is more than one year, it shall be paid at the end of each year; if the remaining term is less than one year, it shall be paid together with the loan.

Article 675 The borrower shall repay the loan within the agreed time limit. If the term of the loan is not agreed or clearly agreed, and cannot be determined according to the provisions of Article 510 of this Law, the borrower may return it at any time; The lender may urge the borrower to return it within a reasonable period of time.

Article 676 If the borrower fails to repay the loan within the agreed time limit, it shall pay the overdue interest in accordance with the agreement or the relevant provisions of the state.