What will happen if the cash loan is overdue for four years? Pay attention to those who are still in arrears.

There are platforms in the market that can provide loans for people. Some lending platforms support cash loans and direct loans to bank cards. Some small loan platforms support online consumption, and users can purchase goods online in installments. Many borrowers have asked, what will happen if the cash loan is overdue for four years? Pay attention to those who are still in arrears!

What will happen if the cash loan is overdue for four years?

The borrower's application for cash loan is overdue for more than four years, and the first thing to bear is that personal credit information will be seriously affected.

Overdue records will be recorded in personal credit report. If it is overdue for more than 90 days, it is a very serious overdue and will basically be blacklisted by all financial institutions. Overdue for more than four years, personal credit will be seriously affected, loans, credit cards, etc. It will be affected in the future, and the bank will suspect that it is a high-risk user and directly refuse the loan.

In addition, the borrower is overdue for more than four years, and the cash loan staff will continue to collect it. In the case of fruitless collection for more than 3 months, the borrower's family or unit is likely to receive a collection message or phone call, which may affect the normal life of relatives and friends.

In addition, the lender has the right to sue the borrower if the cash loan is overdue for more than 3 months. If it is overdue for more than four years, the financial institution is likely to sue the borrower within the validity period of the lawsuit. If the borrower insists on not paying back, then the court is likely to freeze and auction the borrower's property.

If there is no property auction, the borrower is likely to be listed as an executor of bad faith and subject to many restrictions. In addition, the interest rolled down four years overdue is also very high.

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