What impact will it have on the future after receiving the dunning letter?

The reminder letter is for overdue people, so there is no doubt that when you receive this notice, it means that your personal credit has been damaged by overdue repayment. However, there is no need to tread on thin ice and worry too much, because short-term overdue repayment will not cause obstacles to applying for loans or credit cards in the future. Therefore, it is your top priority to repay immediately after receiving the dunning letter.

The collection letter is usually sent when the telephone collection is unsuccessful, which is intended to create a tense atmosphere and urge the borrower to repay immediately. It is a means for banks to revitalize non-performing loans. Of course, it does not rule out that banks can be used as strong evidence when they bring a lawsuit to the court as a last resort.

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However, if the borrower's breach of contract is not intentional, but is indeed caused by economic difficulties, the bank usually will not file a lawsuit. If repayment is really difficult, you can apply for deferred repayment or negotiate repayment. The so-called negotiated repayment means that only a part of the funds can be repaid. Therefore, it is best to reply after receiving the reminder to avoid unnecessary disputes.

A reminder letter is neither an indictment nor a judgment, and there will be no serious consequences. But it has a strong deterrent effect and is a serious warning. If you receive a reminder, ignore it!