What should the neighborhood Committee do if they find me?

Under normal circumstances, if the lender fails to repay the loan within the time limit, the lender should pay off the debt in time to avoid more and more penalty interest and liquidated damages. General lenders who fail to repay the loan will have the following consequences:

Encounter penalty interest and liquidated damages. If the loan is not repaid, the first thing you encounter is a high penalty interest. Some financial institutions need you to pay liquidated damages on the basis of penalty interest. These expenses add up to a lot of money. 2. Credit damage. 3. Collect in various ways. Banks and small loan companies have their own collection systems. Novices will send you text messages and call you to collect money. In serious cases, there will even be a collection staff pressing you around the clock, which will seriously disrupt your work and life. Will be prosecuted. Once the court makes a verdict, even if you are reluctant, you must execute the "repayment ruling". Otherwise, the court will seal up the property under your name according to law and repay the arrears with the proceeds from the auction.

Cui received from the neighborhood Committee, the parties need not be afraid, and the neighborhood Committee will probably ignore the collection personnel, and even if there is, it will not disclose the information of the parties too much. Lending is a legal civil act. It's not illegal. Don't be afraid. The collector just uses the fear of the parties to urge them to try their best to repay. So many people went to borrow loans with higher interest rates to repay their previous loans, and then embarked on a road of no return. Of course, if you can repay on time, this is of course the best. Even if the loan company files a lawsuit, it must go through judicial procedures. As for the parties who have no execution property, the court will execute it when there is execution property at that time. It is precisely because of this that they can protect the rights of the parties to the maximum extent in all aspects and avoid their debts being wronged. It is recommended to consult a lawyer of relevant major.

Legal basis: Article 673 of the Civil Code of People's Republic of China (PRC). If the borrower fails to use the loan according to the agreed purpose, the lender may stop issuing the loan, recover the loan in advance or terminate the contract.

Article 676 of the Civil Code of People's Republic of China (PRC) 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.