What will happen if the loan is overdue?

If the loan is overdue for too long, the following adverse consequences will occur.

1. Overdue penalty interest will be calculated and collected from the overdue date, and the overdue penalty interest will be calculated and collected at 1.5 times the normal borrowing interest rate.

The longer the overdue period is, the more overdue penalty interest will be generated, and the user’s repayment burden and pressure will become greater and greater.

2. Overdue situations will be reported to Zhima Credit by the system, and Zhima points will be reduced accordingly; and will be reported to the central bank for credit reporting, leaving a bad record in the personal credit report, thus causing personal credit damage ( Overdue information on the credit report will generally be retained for at least five years after the debt is paid off before it may be deleted).

3. The platform will implement risk control reduction, or even directly freeze the quota, and users will no longer be able to borrow money from Jiebei in the future.

And due to credit problems, borrowing from other financial institutions will most likely be hindered, and it will be difficult to successfully apply for it in a short period of time.

4. Alipay will send text messages and make phone calls to demand payment. If there is no response to multiple reminders, or even the person cannot be contacted, and the amount owed is quite high, a lawsuit may be filed in court.

If the repayment is not repaid after the court's judgment, the court will enforce it. If the user clearly has the ability to repay but deliberately fails to repay, the court may be included in the list of dishonest persons subject to execution. , once you become a dishonest person, your daily life consumption and travel will be restricted.

If you are facing the problem of overdue online loans and are being collected, it is recommended that you go to the "Beijian Quick Check" to obtain a detailed big data report, understand your overdue records, and review your Online loans are classified to distinguish between formal loans that have a credit rating and informal loans that do not have a credit rating. If you want to repay the money but currently have insufficient funds, it is recommended that you negotiate with the online loan platform and give priority to repaying regular and credit-worthy loans to minimize the impact on yourself. This will not only improve your creditworthiness, but also help you apply for other loans in the future.

Extended information:

Can I negotiate with customer service to repay the loan in 36 installments?

Borrowing can negotiate with customer service to repay the loan in 36 installments, but the chance of successful negotiation is relatively low.

If you want to negotiate repayment, the success rate of negotiating repayment in 3-6 installments will be higher.

This is because the longer the installment period, the higher the risk you need to bear when borrowing. The user negotiates repayment because it is overdue, and the risk of re-instalment is within a controllable range. In this way, the borrower can Only then will Bai agree to the user's negotiation application.

Of course, even if the negotiation is successful, the overdue records have been uploaded to the credit report. Only when the user pays off the overdue debt will the overdue records be deleted after 5 years.