What will happen to WeChat loans overdue

After the borrower loans overdue, the WeChat loan platform will collect the money first. If it is only 1-3 days overdue, it is usually a text message a day or a text message a day, which is not frequent for borrowers.

However, if the borrower is overdue for more than one week, the collection calls and text messages of the collection staff will be more frequent, generally reaching about three calls a day. If the overdue time exceeds one month, not only the borrower himself will be frequently urged, but also his family and friends will find it difficult to survive.

If the borrower is overdue for more than 2 months, and the borrower chooses to escape or lose contact, the collection staff of WeChat loan can consider collecting directly at home. Of course, door-to-door collection is generally based on negotiation, and a third-party notary will be present.

2. Generate penalty interest

After WeChat loans overdue, there will be overdue penalty interest. Generally speaking, the overdue penalty interest of small loans will be higher than that of bank loans. After all, the loan interest rate of small loans is higher.

According to the regulations, the overdue penalty interest of WeChat loan is generally 1 and 5 times the loan interest rate. The longer the borrower is overdue, the more penalty interest will be paid for overdue loans. After the penalty interest is increased, the repayment pressure is greater and it is more difficult to pay off the loan.

3. Personal credit information is damaged

Wechat loans are basically on credit reporting. Once overdue, there will be a stain on loans overdue's credit information. The longer the overdue time, the higher the level of bad records. The higher the grade, the more serious the overdue behavior.

Once there is a serious bad record in credit reporting, it is very difficult for borrowers to apply for bank mortgage and car loan in the future. Even if you apply for a credit card, it is easy to be rejected. Even if it is done, the loan amount is generally between several hundred and several thousand yuan.

4, affect the work

If the borrower fails to pay it back for more than 3 months, it is very likely that the collector will find the borrower's work unit. Once the unit knows that the borrower has a serious overdue record, it will have a serious impact on the borrower's career.

Step 5 be sued

If it is overdue for more than three months, the WeChat loan platform has the right to sue the borrower.

After the borrower is sued and the case is established, all the property under his name will be frozen and auctioned after compulsory execution. If the borrower is a civil servant or something, he needs political review. Once it is found that there is a record of enforcement, it will also affect the future of the borrower.

In order to maintain a good credit record, we should also pay attention to our online loan big data in time. Click on Sixi Data to see our online loan big data report, and always maintain good credit.

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What will happen if online loans can't be used?

If the online loan has not been 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.