What will happen if I receive a letter from Gitzo on installment payment? Is it true?/You don't say.

Receiving a reminder letter from Gitzo is not as terrible as you think. Doesn't mean you're not going to jail soon. The function of the dunning letter is to extend the prosecution period of the other party. In other words, Gitzo may sue you. Therefore, I suggest you pay back the money as soon as possible, and don't delay any more. Otherwise, even if you don't go to jail, you will be in great trouble.

Since Gitzo was launched by stages, many people have been handling this business. As we all know, by stages, the burden is reduced by monthly installment repayment, rather than one-time settlement of consumption. So, what will happen if Gitzo doesn't repay in installments? What will happen if Gitzo doesn't repay in installments? Today, Bian Xiao will answer your questions.

What will happen if Gitzo doesn't repay in installments?

I. Payment of default interest and liquidated damages

Once your Gitzo installment is overdue, you will face high penalty interest, and you will have to pay liquidated damages if you don't repay.

Second, it affects personal credit.

Because Gitzo is linked to the personal credit information system of the People's Bank of China, if it is not repaid in installments, it will be credited, which will seriously affect personal credit.

Third, facing the collection.

If you don't pay in installments, the first thing you will face is all kinds of telephone bombing. Gitzo will keep urging you to pay back, which will definitely have a great impact on your life and make your life unbearable.

Fourth, bear legal responsibility.

If you keep refusing to repay, Gitzo will go through legal procedures and even sue you. If the circumstances are serious, you must bear legal responsibility. If you refuse to repay the loan all the time, Gitzo will also report it to the court. Once you enter the list of untrustworthy people, not only will your future loans and cards be affected, but your relatives and friends will also be implicated.

The above are some consequences of Gitzo's failure to repay the loan in installments summarized by Bian Xiao. It can be seen that the consequences of Gitzo's failure to repay in installments are quite serious and will have a great impact on life. If the circumstances are serious, they will also bear legal responsibility, so everyone must pay attention to repayment on time.