Why do I receive overdue text messages from others?

When someone else’s loan is overdue and the user receives a text message, they may think that the user is the other person’s emergency contact for the loan.

When applying for some loans, you need to submit the phone numbers of 1-2 emergency contacts. When the user's loan is in the review stage, or the user's loan is overdue, the contact person may receive the call. Or receive a text message.

Loan overdue usually means that after the loan expires, the borrower fails to repay the loan principal to the bank that issued the loan according to the loan time limit stipulated in the loan contract without going through the relevant extension or re-loan procedures. and interest, thus causing the loan to exceed the agreed period.

The best way to deal with an overdue loan is to pay off the overdue portion as soon as possible. There is no shortcut, there is only a down-to-earth repayment of money. Overdue loans have certain negative effects and need to be treated with caution: 1. Being collected. 2. Incur high penalties and liquidated damages. 3. Cause credit crisis and destroy credibility. 4. Will be prosecuted by the court.

Although the policies of each lending institution are different, in general, banks are more vocal than small loan companies. If a credit loan is overdue, the lending institution will first call to collect the loan to remind the borrower to repay. At the same time, the interest rate will rise as a daily penalty interest.

The intensity of penalty interest varies from loan institution to loan institution. For example, Citibank will charge 50% interest on the original interest rate. Some small loan companies may charge even more liquidated damages. This means that if you borrowed an estimated 10,000 yuan, but if you don’t repay it for more than 3 months, you may end up having to pay tens of thousands in interest and late fees.

Every time you are overdue, your name will appear in the bank's internal system the next day, and then the president and risk control will see it. After the due date, bad records will inevitably be left on your credit report. Once left, the record may be retained for 3 to 7 years. If you want to borrow money from other banks in the future, you may not be able to apply easily due to bad credit.

If the overdue circumstances are serious, future mortgage loans and car loans will be affected. Penalty interest is only a monetary loss, but a bad credit record is a loss of intangible assets, causing an impact that money cannot make up for.

When many people apply for a mortgage loan again, they find that due to carelessness, they have left too many overdue repayment records on their old mortgage loans. In addition to the penalty interest for overdue mortgage loan repayments, there are also You may not be able to successfully obtain the preferential interest rate for a mortgage loan from a bank. What's more, it may become impossible to apply for a mortgage loan again.

As for some "old people" who deliberately delay travel debt, they will be blacklisted. As a result, they will not be able to take flights, high-speed trains, or stay in accommodation; what is more serious is that their children will not be able to attend key schools; there will be more penalties in the future, and it can be said that life will be difficult to move forward.