2. Penalty interest: If Duffy Cloud Loan fails to repay within the time limit, the overdue repayment interest will be charged on a daily basis. The longer the overdue period, the more money will be paid back.
3. Duffy Cloud Loan Collection: Duffy Cloud Loan will continue to collect money from borrowers by phone or SMS, and even arrange staff to come to urge borrowers to repay in time, which will affect the normal life of borrowers.
Legal basis: Civil Code of People's Republic of China (PRC).
Article 673 Where the borrower fails to use the loan according to the agreed purpose, the lender may stop issuing the loan, recover the loan in advance or terminate the contract.
Article 674 The borrower shall pay interest at the agreed time limit. If the time limit for paying interest is not stipulated or clearly stipulated, and cannot be determined according to the provisions of Article 510 of this Law, if the loan period is less than one year, it shall be paid together with the loan; If the loan term is more than one year, it shall be paid at the end of each year; if the remaining term is less than one year, it shall be paid together with the loan.
Article 676 If the borrower fails to repay the loan within the agreed time limit, it shall pay the overdue interest in accordance with the agreement or the relevant provisions of the state.