What should I do if Jiufu Wanka PICC reimburses the lump sum and still cannot pay?

In the Jiufu Wanka loan, after the money arrives, PICC Property and Casualty Co., Ltd. will deduct the premium from the loan principal.

It is reported that the insurance premium collected by the Foshan Branch of China PICC Property and Casualty Co., Ltd. stipulates that if the borrower cannot repay the loan on time, the insurance company will bear the repayment responsibility. The reason for not being able to request a refund of the fee is that there is a clear prompt on the loan page, and the applicant can only borrow money if he agrees to buy this insurance.

The consequences of not repaying the Jiufu Wanka Card can be said to be very serious. It not only affects personal credit, but also requires payment of late fees and penalty interest, resulting in a larger amount of repayment. It is recommended that Jiufu Wanka loan users must repay their loans on time to avoid affecting their personal credit. If you are unable to repay due to financial problems, you can negotiate with Jiufu Wanka for repayment.

Extended information

If the Jiufu Wanka card is not returned, the credit report will be affected due to overdue payment, thus affecting the personal credit report. Moreover, the Jiufu Wanka card will not charge any outstanding fees for the current period. 5% of the principal repaid is used as a late payment fee, and 0.1% of the unpaid principal is used as penalty interest, thus increasing the borrower's debt. In addition, if Jiufu Wanka fails to repay, its staff will make a reminder to the borrower. If the borrower does not repay the money after the refund, he may even be sued by Jiufu Wanka.

Jiufu Wanka will grant a corresponding credit limit based on the user’s credit, which can reach a maximum of 150,000 yuan. However, the interest rate for borrowing on this platform is relatively high compared to banks, but it is not considered a loan shark. , the annual rate limit for loan sharking is 36%, so Jiufu Wanka is still a legal loan platform.

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