What does overdue SMS reply Y mean?

Acknowledge receipt of the dunning notice. Overdue SMS reply Y means that when the borrower fails to repay the loan on time, the loan company or relevant departments will send a short message to remind the borrower to repay the loan, and ask the borrower to reply Y or some other designated characters in the short message to confirm the receipt of the dunning notice. Reply Y usually means that the borrower has received the dunning notice and will pay off the overdue debt as soon as possible. If the borrower fails to repay the loan on time, he will be regarded as overdue.