Will there be a door-to-door collection when the money is overdue?

The rich flower owned by Baidu Finance has always been a popular loan service product, and it has been quickly recognized by people with its three advantages: low safe interest rate, no need for mortgage, convenient review and fast loan. Then, will the overdue money be collected at home? What if the money is overdue?

Will there be a door-to-door collection when the money is overdue? What if the money is overdue?

If you have money to spend overdue, you will be fined, just like a small loan. If overdue, penalty interest will be charged on a daily basis. From the date of overdue, a penalty interest of 1.5 times the agreed interest rate will be added to the overdue amount every day until the overdue amount is paid.

In addition, the overdue record of spending money will be reported to the People's Bank for credit information, which will affect your credit record. The money spent will be submitted in strict accordance with the credit management standard of the People's Bank of China, so the money spent on the loan will be creditworthy. If it is overdue, it will also leave an overdue record on your personal credit report.

Finally, overdue loans will affect your future loans. Users who are overdue for a long time cannot continue to borrow money, and they need to pay off all the debts before they can continue to try to borrow money. If overdue occurs frequently, your consumption limit may be reduced or cancelled.

Generally speaking, as a formal loan brand, overdue money will not be violently collected. At the initial stage of non-repayment, the staff will remind you to repay on time through legal and compliant ways such as text messages and telephone calls. It is recommended to repay the loan on time to avoid the influence of overdue on personal credit.