The consequences of outstanding Zendai Wealth Loan

When the borrower fails to repay the credit loan handled by the lending institution, in a short period of time, the lending company may, like the bank, call short messages to collect the loan and impose penalty interest.

If the loan is not repaid for a long time, the practice of the loan company may not necessarily die. Many loan companies rely on certain forces to collect loans through violent harassment and other means, which not only affects the life of borrowers, but also may affect borrowers' families.

Credit loan refers to the loan issued by the borrower's reputation, and the borrower does not need to provide guarantee. Its characteristic is that the debtor can get a loan only by his own reputation without providing collateral or third-party guarantee, and the borrower's credit degree is used as repayment guarantee. For a long time, this kind of credit loan has been the main loan method for banks in China.

Because this kind of loan is risky, it is generally necessary to conduct a detailed investigation on the borrower's economic benefits, management level and development prospects in order to reduce the risk. It is mainly applicable to enterprises (institutions), legal persons, other economic organizations and individual industrial and commercial households that have been approved and registered by the administrative department for industry and commerce and meet the requirements of the General Principles of Loans and banking regulations.

Extended data

Article 207 of the Contract Law stipulates that "if the borrower fails to repay the loan within the agreed time limit, it shall pay overdue interest in accordance with the agreement or relevant state regulations".

Penalty interest will be charged if it is overdue. From the overdue date, default interest will be charged at the agreed interest rate 150% every day until the payment is overdue. Your overdue record will be collected by the People's Bank of China, which will affect your credit record. Please cherish your credit and repay on time.

If loans overdue exceeds a certain period, the relevant records of overdue users will be transmitted to the personal credit information system of the central bank. In addition to uploading overdue information to the central bank's personal credit information system, Lending will continue to cooperate with third-party credit information agencies such as Qianhai Credit Information, Shanghai Credit Information and Pengyuanzheng Credit Information.

For loans that are overdue or not used according to the purpose agreed in this contract, interest will be charged at the default interest rate from the date when they are used in loans overdue or not according to the purpose agreed in this contract until the loan principal and interest are fully paid off. For the interest that cannot be paid on time, compound interest shall be calculated at the penalty interest rate.

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