How many years is the Jin Ying installment overdue?

Does the questioner want to ask "What will happen if the Jinying installment is overdue for several years?" Experiencing penalty interest and liquidated damages, and credit damage. Received various collections.

1. If an online loan is overdue, the first thing you will face is high penalty interest. After the online loan is overdue, the platform will charge overdue interest from the borrower. The overdue interest rate is usually much higher than the actual loan interest rate. In addition, the platform will also charge liquidated damages or late payment fees. The longer the time, the more overdue fees will be incurred.

2. All formal online lending platforms have credit reporting. If a borrower is overdue, the loan platform may upload the user’s overdue record to the central bank’s credit reporting system, which will give the individual credit reporting. Leave a bad record. Although some platforms are not listed on the credit report, we are now in the era of big data. If you are overdue on one platform, you will be hindered from borrowing money on other platforms later.

3. When a borrower becomes overdue, the platform will collect money through text messages, phone calls, etc., and may even encounter door-to-door collection methods. Various collection methods will have an impact on the borrower's normal life.