Will Xinxiangtong sue if it is overdue for 20 days?

When Nanjing Bank is unable to repay the loan in New Dream, it should take the initiative to communicate with the bank and negotiate the repayment method. If it fails to repay in bad faith, the bank will sue the borrower.

Online lending belongs to private lending, and private lending also needs to be repaid on time. As long as the loan platform does not violate the law, the borrower must fulfill the repayment obligation on time.

If the borrower fails to repay the loan, once it is overdue, it will have the following adverse consequences:

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

2. Credit damage. At present, many online lending platforms are conducting credit reporting. If the borrower is overdue, the loan platform may upload the overdue record of the user to the central bank's credit information system, which will leave a bad record of personal credit information. Although some platforms have no credit information, it is now the era of big data. If one platform is overdue, the borrowing of other platforms will be hindered.

3. Collect in various ways. Whether it is a bank loan or an online loan, after the borrower is overdue, the platform will collect it by SMS, telephone, etc. , and even encountered a door-to-door collection. All kinds of collection methods will affect the normal life of borrowers.

4. Be sued. If the borrower owes a large amount and the overdue time is long, then the lending institution can recover the arrears through legal channels. Although private lending will not involve criminal responsibility after being sued, it will not be imprisoned for arrears. However, if the borrower refuses to repay the arrears after being sued, then the court may include it in the untrustworthy executor, that is, Lao Lai. After becoming an old lai, not only is it hopeless to apply for credit business, but consumption will also be restricted.