What will happen if Du Xiaoman doesn’t repay the loan?

What will happen if Du Xiaoman has money to spend?

I suggest you pay back the money as soon as possible, because Du Xiaoman has money to spend is a more formal platform, and it is connected to the central bank’s levy Credit system, if you are overdue, it will be recorded in the credit system, which will have an impact on your credit and cause a lot of inconvenience in life.

Extended information: Du Xiaoman Finance, formerly Baidu Finance. In April 2018, Baidu announced that its financial services business group had officially completed the signing of a split financing agreement. After the split, Baidu Finance will launch a new brand "Du Xiaoman Finance" to achieve independent operations.

Baidu's Internet financial business began in 2013. In 2015, it integrated the existing financial businesses to form a financial business group, and raised the financial business to Baidu's strategic position. Baidu Senior Vice President Zhu Guang Mr. is fully responsible.

In December 2020, the United Nations Global Compact China Network released the "2020 Best Practices for Enterprises in Achieving Sustainable Development Goals" list of companies. ***20 Chinese companies were selected as best practice companies. Among them, Duxiaoman Financial’s practices in supporting small and micro enterprises, poverty alleviation and agriculture, and creating social employment were praised by the United Nations and were successfully selected as the “Best Practice in Eradicating Poverty and Promoting Prosperity” Practical enterprise”.

On August 4, 2020, the "Suzhou High-tech Zone·2020 Hurun Global Unicorn List" was released, and Du Xiaoman Finance ranked 108th.

In December 2019, at the "YUE Management" award ceremony held at the China Center of the Wharton School of the University of Pennsylvania, Du Xiaoman's financial blockchain ABS case won the "Harvard Business Review" 2019 " Excellence in Practice Award". On July 21, 2021, Du Xiaoman Finance made an emergency donation of 10 million yuan through the Henan Charity Federation.

Many people do not understand credit reporting. Today I will tell you about the aspects that personal credit reporting will affect.

1. It will reduce the borrower’s loan amount.

2. Not giving borrowers preferential interest rates or increasing loan interest rates.

3. If there are multiple bad credit records, the borrower’s loan application will be directly rejected.

4. It has an impact on many fields such as job hunting, renting a house and even visas to go abroad.

5. Credit bureaus will be included in the central bank’s blacklist, which will bring a lot of inconvenience to life.

Extended information

Behaviors that affect personal credit reporting_

1. Arrears in water bills, phone bills and other related expenses. These small things will affect you. Personal credit report, therefore, the editor of the housing finance office reminds everyone to pay attention to the small details in life. __

2. If the borrower’s debt is too high. Most people have already had a car loan or a house loan where the repayment exceeds 50% of the borrower’s monthly income. Also, credit card repayments will be deducted if the monthly repayment exceeds 50% of the borrower’s monthly income. Be included in the bad credit reporting system. __

3. The borrower applies for personal loan default. If there is any outstanding loan principal and interest or the guarantor is repaying the loan; if there is a loan extension record recently or within two years of using capital to pay off the debt, it will also be included in the credit record list. __

4. The borrower’s credit card is overdue. This is most common in rasterization. If a cardholder forgets to repay or has defaulted on repayment, it will also be recorded if the number of repayments exceeds six times within a year.

So everyone must keep good records and don’t take random online loans. If you don’t have money, you can find relatives and friends. But don’t click on online loans randomly. Too many online loans will mess up your credit report, and it will not be so easy to get a loan from a bank in the future. What are the consequences of Du Xiaoman’s overdue loan?

Du Xiaoman’s overdue loan will have the following consequences:

1. The credit report will be harmed.

2. It will be collected by the platform.

3. Penalty interest will be incurred.

4. The loan contract will be terminated.

5. The platform will require early repayment.

6. Affect other loan applications.

7. The loan limit will be reduced or frozen.

8. Other Duxiaoman products will be affected.

9. Those who maliciously exceed the deadline will be prosecuted.

10. Unable to enjoy preferential loan policies.

In addition, Du Xiaoman generally does not support negotiated repayment, nor does it support deferred repayment, so there is no grace period. Customers who do not pay the current bill before the repayment date expires will need to bear the above These overdue consequences have a relatively large impact.

Therefore, customers need to ensure that they can repay their debts in full and on time. They must not break away from their income situation before applying for a loan. They must apply for a loan reasonably within the scope of their personal income. Do not give Later life brings too much debt pressure and blind borrowing. It will only increase your risk of loan overdue. What will happen if Du Xiaoman Financial fails to repay the loan

1. Positive answer

Du Xiaoman Financial may have the following consequences after being overdue several times.

II. Specific analysis

1. The quota has been canceled or reduced

Although the borrowing quota of Du Xiaoman Financial can be valid and recycled for a long time, it has happened several times. Overdue credit will lead to bad credit, and the system's score will be lowered from time to time, thereby canceling or reducing the borrower's credit limit.

2. Pay penalty interest arising from several overdue payments

Penalty interest is charged on the overdue amount every day at 1.5 times the normal interest rate.

For example, the normal daily interest rate is 0.04%. One overdue amount of 5,000 yuan is 10 days overdue, and another 2,000 yuan overdue amount is 20 days overdue. Then the total overdue penalty interest paid = 5000*0.04%*1.5*12000 *0.04%*1.5*20=54 yuan.

3. Report overdue records to the People’s Bank of China’s credit report

If you fail to repay the loan after the specified repayment date, it will be considered overdue. The number of overdue times and overdue duration will be reported to the People’s Bank of China’s credit report. Once the information center is updated and displayed, it will not disappear within 5 years, and the borrower needs to bear the negative impact of overdue records.

Just search: Beijian Quick Check. Click Query and enter information to query your own Baihang credit data. This data comes from more than 2,000 online loan platforms and UnionPay centers across the country. Users can query their own big data and credit status, and obtain various indicators. Query your personal credit situation, Internet black index score, blacklist status, online loan application records, application platform type, whether it is overdue, overdue amount, credit card and online loan estimated credit limit and other important data information.

3. Will Du Xiaoman Financial be found if it is overdue?

Generally, Du Xiaoman Financial will not come to your door if it is overdue.

1. Duxiaoman Finance mainly uses text messages and phone calls to collect overdue payments. If the borrower cannot be contacted, it may call its contact person.

2. Door-to-door payment collection methods mainly occur between some online small loan companies or private lending platforms, and Duxiaoman is a formal financial institution approved by the China Banking Regulatory Commission and holding a financial license. This kind of collection is Payments are rare.