Zhong Tengxin: What measures will the post-loans overdue Bank take?

Banks generally have a three-day tolerance period for overdue borrowers, and will take collection action after three days.

Step 1: Call and SMS for collection. In view of the short-term overdue behavior of the lender, the bank will generally call to remind the lender of the arrears and urge the lender to repay immediately.

Step 2: Call for solicitation. If the lender refuses to repay or evades repayment after telephone collection, the bank will send someone to collect it.

The third step: outsourcing collection. For loans overdue for more than half a year, the bank will entrust a special collection company for collection, and the collection method of the collection company will be very irregular.

The fourth step: court prosecution. For loans that cannot be recovered, the bank will sue the court and ask the lender to make compulsory repayment.

Especially for friends who have mortgages and car loans, banks will auction the houses and cars they bought with loans to make up for the loan losses.