What happens when the monthly installment payment is overdue in Tik Tok?

What will officials do if Tik Tok's monthly payment is overdue?

Because in the case of overdue, the bill amount no longer enjoys interest-free service, and the overdue amount will generate interest according to the number of overdue days. It is obviously not enough to return only the minimum repayment amount, and overdue interest must be returned together.

The influence of Tik Tok's overdue installment payment;

1, dunning, SMS notification and message reminder in Tik Tok APP will be sent before the repayment date, and dunning may be made by phone after the deadline;

2. If penalty interest is incurred, it shall be calculated according to the number of days overdue;

3. The credit impact may be uploaded to your personal credit report, which will affect the installment amount;

4. Being sued, seriously overdue and charged with malicious overdraft.

Will Tik Tok's monthly payment expire?

You can't get the credit report one day overdue, but you can't keep it for a long time.

Tik Tok's cooperative financial institutions are banks and consumer finance companies, which are all related to the credit investigation of the People's Bank of China. So as long as the application is successful, the loan record will be uploaded to the People's Bank of China for credit investigation. Credit information on loan records will not affect personal credit, only bad credit records will affect personal credit information.

Of course, Tik Tok can rest assured that if the repayment is overdue, there will be overdue records uploaded to the People's Bank of China's credit information system, which will directly lead to poor personal credit information.