I am heavily in debt and unable to pay it back. What should I do?

If the online loan is not repaid, it will lead to a bad personal credit record and affect your subsequent loan application. Moreover, after the online lending institution fails to pay it back within the time limit, the agency staff will also collect it from you by telephone or SMS, which will affect your personal life. If the amount of arrears is large and serious, the platform can solve it through legal channels. At the same time, there will be a high penalty interest during the overdue period, which will cause you a burden.

First, the online loan is still not available, how to solve it?

If your online loan is really unable to repay, you can contact the platform staff in advance to show your willingness to repay, and promise the repayment date, negotiate with the other party the best repayment method, and don't directly refuse to repay.

Second, if the online loan is not repaid, what impact will it have on individuals?

Regular online lending institutions access the credit information system. When users submit loan applications, they will also sign loan contracts with the platform. When the user fails to repay the loan within the time limit, it will be reported to the credit information system. If the user has serious overdue behavior, the platform can solve it through legal channels. You can check your current credit status in "Xiao Mu Data" and find this WeChat applet. Get rid of the bad habit of applying for a loan and cover up the dishonest behavior with a new good record of using money, so that everyone will not hit a wall again and again when they encounter an economic crisis.

Third, collection will affect the lives of individuals and their families.

After the deadline, the platform will have a special collection staff to contact users to collect them. If the user refuses to answer the phone or has a bad attitude towards the collector, the collector will contact the user's colleagues or family members, which will seriously affect the lives of others.

To sum up, online loan repayment actually has the greatest impact on yourself, because personal credit information will have a bad record, which will affect personal loans.

Therefore, if you use a loan or credit card, you must repay it on time and don't delay it easily. Otherwise, if you go to collect credit after the deadline, there will be a credit stain. After you pay off your debt, it will take five years to "wash white". If you don't pay it back, the credit stain will follow you all your life.