Online loans will give up collection if they are overdue for several years.

under normal circumstances, after the online loan is overdue for several years, the collection will be abandoned.

Detailed description:

1. Online loan companies usually take a series of collection measures after loans overdue, including telephone collection, door-to-door collection and legal threats. Online lending companies hope to recover overdue payments and reduce losses through these means.

2. However, the cost and effect of collection measures are not always ideal. After a period of time in loans overdue, online lending companies will start to consider giving up collection. This is because with the passage of time, the difficulty of recovering overdue funds will increase, and the cost of collection will gradually increase. Therefore, when online lending companies think that the possibility of recovering overdue funds is very low, they will stop collecting them.

3. In practice, different online lending companies may have different criteria to judge whether to give up collection. Generally speaking, online lending companies will comprehensively consider the amount of overdue funds, the borrower's willingness and ability to repay, the specific terms of the loan contract and the cost of collection. If the overdue payment is small, the borrower shows positive willingness and ability to repay, and the collection cost is relatively high, the online loan company may continue to collect; However, if the overdue payment is large, the borrower has no willingness and ability to repay, and the collection cost is high, the online loan company is likely to give up the collection.

4. The specific length of overdue online loans varies according to different situations. For the case of overdue repayment for one or two months, online lending companies will usually continue to collect; However, if the overdue time is more than one year or even longer, the online loan company is likely to give up the collection.

Summary:

To sum up, after the online loan is overdue for several years, the collection will be abandoned. This is because with the extension of time, it is more difficult to recover overdue funds, and the cost of collection will gradually increase. Whether to give up the collection, the online loan company will comprehensively consider the amount of overdue money, the borrower's willingness and ability to repay, the specific terms of the loan contract and the collection cost.

Extended information:

Overdue online loan means that the borrower fails to repay the loan according to the repayment period and amount agreed in the loan contract. Online loan companies usually take a series of collection measures after borrowers are overdue, including telephone collection, door-to-door collection and legal threats. However, the collection of overdue loans is not always successful. Different borrowers have different willingness and ability to repay, and the cost of collection is also an important consideration. Therefore, online lending companies may give up continuing to collect overdue loans after a certain period of time.

It is worth noting that the laws and regulations related to online lending also have certain provisions on the collection of overdue loans, but this answer does not involve specific legal provisions. For borrowers, it is suggested to repay the loan on time to avoid the occurrence of overdue loans, so as not to bring unnecessary troubles and economic losses to themselves.