Is it credible that Gitzo sent a text message to sue for overdue?

Received the hearing notice from Gitzo, which is generally true.

If Gitzo fails to pay the loan after being urged, it will be sued and will go to court. Moreover, overdue repayment will also generate high overdue interest, which will be paid in accordance with the agreement or relevant state regulations.

After overdue repayment, it will lead to the following consequences:

1, credit damage, although the arrears have been returned, but overdue has occurred, it will still affect your credit information and produce stains.

2. Overdue penalty interest, when the borrower is overdue, it will generate penalty interest according to the agreement signed at the time of borrowing.

3. late fees. Some loan types will also stipulate in the loan contract to collect late fees.

Overdue repayment refers to the situation that the final repayment period stipulated by the bank is exceeded and the consumption money is not deposited in the designated account in full and on time. Overdue interest will be generated, which will affect the credit information, and in serious cases, it will be prosecuted by the court and imprisoned.

legal ground

Article 675 of the Civil Code of People's Republic of China (PRC) stipulates that the borrower shall repay the loan within the agreed time limit. If the term of the loan is not agreed or clearly agreed, and cannot be determined according to the provisions of Article 510 of this Law, the borrower may return it at any time; The lender may urge the borrower to return it within a reasonable period of time. Article 676 If the borrower fails to repay the loan within the agreed time limit, it shall pay the overdue interest in accordance with the agreement or the relevant provisions of the state. Article 677 Where the borrower repays the loan in advance, unless otherwise agreed by the parties, the interest shall be calculated according to the actual loan period. Article 678 The borrower may apply to the lender for extension before the repayment period expires. If the lender agrees, it can be extended. Article 679 A loan contract between natural persons is established when the lender provides the loan. Article 680 usury is prohibited and the loan interest rate shall not violate the relevant provisions of the state.

If there is no agreement on the payment of interest in the loan contract, it shall be deemed that there is no interest.

If the loan contract does not specify the payment method of interest, and the parties cannot reach a supplementary agreement, the interest shall be determined according to the local or the parties' trading methods, trading habits, market interest rates and other factors; Loans between natural persons are regarded as interest-free.