How to tell your parents about the online loan confession?

Say what you want to say. Be honest with parents. If you can't pay back, don't borrow money online. You will learn from it, tell your family as soon as possible and try to pay back the money.

Overdue consequences

1, penalty interest and liquidated damages.

If the online 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, but if you don't want to get into the quagmire of loans, you must develop good repayment habits.

2. Credit damage

If you borrow money from the platform and fail to pay it back within the time limit, your credit report will be tainted, and it will be more difficult to apply for credit cards and loans in the future. Because of petty profits, it is not worth the loss to miss your credit wealth. Some people say that the loan I took from the online loan will not be included in the central bank's credit information. Needless to say, online loans and central banks are now more interconnected. Even in the online lending circle, there is an exclusive "blacklist" system. If one family doesn't pay back, it will be difficult to approve other loans.

3. Collect in various ways.

Both banks and online loans have their own collection systems. Novices will text you and call you for money. In some serious cases, there will even be a collection staff pressing you around the clock, seriously disrupting your work and life. The average person can't stand this kind of "spiritual oppression".

4. Being sued, assets may be seized.

Maybe you have a strong "anti-pressure" ability and think that all the consequences mentioned above are Mao Mao rain, so financial institutions will not be polite to you, so they can only take out the secret weapon of "court" and arm themselves with the law.

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.

If the circumstances are serious, you will go to jail.

Generally speaking, such incidents as non-repayment of loans are civil disputes and will not rise to the criminal level. However, if the borrower refuses to implement it, it will be considered as a deadbeat and would rather run away than pay back the money. If the circumstances are very bad, the court will also investigate the criminal responsibility of the borrower, and if it is too serious, it will go to jail.

In short, if you encounter overdue online loans, don't worry, just repay them in time. In addition, everyone should learn from overdue loans and consider their repayment ability before the next online loan to avoid encountering overdue online loans again in the future.