What if there is no online loan?

If the online loan is not repaid, it will have the following adverse consequences:

1. A penalty interest will be charged from the overdue date until all arrears are paid off. The longer the overdue period, the more accumulated penalty interest (note that the overdue penalty interest rate charged by some online loans will be higher than the normal loan interest rate).

2. The system will report the overdue situation to big data, and some online loans will be connected to the central bank's credit information, so they will also be reported to the central bank's credit information, leaving a bad record in it, resulting in personal credit damage.

3. The platform will send text messages and call for dunning. If there is no response to the text message and phone call, relevant personnel may be arranged to come to the door for dunning, and even a lawsuit may be filed in court.

4. Due to credit problems, the subsequent handling of credit business will be hindered, and it will be difficult to successfully handle it in a short time.

Therefore, I suggest that you always remember to repay the loan on time after borrowing it, and never fail to pay it back after the deadline. Of course, if the interest fees charged by online loans are too high, the interest fees beyond a reasonable range can be chosen not to be returned.

Borrowers apply for loans too frequently or operate loans too frequently, which will increase personal credit risk. You can check the personal credit risk index in Winnie Hsin. The higher the risk score, the easier it is for the application to be rejected.

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What will happen if the online loan is overdue?

If the online loan is overdue, it will have the following adverse consequences:

1. Default interest will be charged from the overdue date until all the arrears are paid off, and the default interest rate charged by some platforms will be higher than the normal lending rate. The longer the overdue time, the greater the repayment pressure.

2. The platform will report the overdue situation to big data or the central bank's credit report, leaving bad records in it, resulting in personal credit damage (generally, it will take at least five years to delete the overdue bad records after the arrears are paid off).

3. The system freezes the loan amount so that it can no longer be borrowed; Moreover, because of credit problems, borrowing from other financial institutions is likely to be hindered, and it may be difficult to successfully handle it in a short time.

4. Send text messages and call for dunning from time to time. If the dunning is not paid back for many times, some may arrange relevant personnel to come to the door to make dunning, and some may take legal measures to repay the money as soon as possible by bringing a lawsuit to the court in order to recover the money.