What will happen in the end if you don't pay in installments?

In the future, arrears in installments will not generate penalty interest, reduce sesame scores, and receive various collection messages and phone calls. Overdue records can be uploaded to the personal credit information system of China People's Bank by stages in the future. Refusal to repay in installments in the future will affect daily life and increase the economic burden.

If the installment is overdue, there will be a penalty interest, and the interest will be calculated according to the daily simple interest. If it is overdue for more than 30 days, the interest will be calculated according to compound interest. After the installment is overdue, the overdue record of the user will be submitted to Sesame Credit, and the user's default record will affect Sesame Score. Before repayment, the sesame score continued to decrease.

After the installment is overdue, users will continue to receive various collection messages and phone calls, and their daily lives will be affected. Not only that, the contacts in the address book will receive various collection messages and phone calls in the future, which will affect the daily life of the contacts.

There are many lenders who pay by installment. Some lenders (such as Wang Xin Bank) are formal financial institutions. If the user is overdue, the overdue records of the user will be uploaded to the personal credit information system of the People's Bank of China by stages.

If the user is overdue for a long time and owes a large amount, you can contact him. In the next issue, a collection staff will be sent to collect the money. In order to avoid affecting the daily life of users, users need to maintain good repayment habits, repay on time and not overdue.