1. Overpay overdue penalty interest.
From the first day of overdue, the overdue amount will be charged at the penalty interest rate, which is usually 0.5 times of 65438+ normal interest rate. The longer the loan is not repaid, the more overdue penalty interest will be, which is also a big expense.
2. Personal credit is damaged
If the loan is not repaid after 24:00 on the repayment date, the lender will truthfully report the overdue situation to the central bank's credit information center according to the relevant regulatory requirements, and the overdue situation will be displayed on the personal credit information report for a long time, resulting in personal credit damage. If it is not paid off, you will not be able to apply for other loans.
3. Continue to face various collections.
Including SMS collection, telephone collection, door-to-door collection, etc. There will be a collection process, which will press the borrower step by step until the overdue debt is settled. This process is continuous and periodic, which will inevitably have a great impact on your work, life and mental state in the long run.
4. Microfinance can't continue to borrow money.
The micro-loan I applied for before has not been paid back. In order to stop the loss in time, the lending institution will definitely cancel the borrower's loan qualification and remaining loanable amount, so that he can't continue to borrow and can only repay. Even if the debt is paid off, he may not be able to continue to use it in the future.
5. The lender brings a lawsuit.
Such as overdue penalty, credit damage, continuous collection, etc. If the borrower cannot be allowed to repay the money, the lending institution can only take legal measures to safeguard its own interests, bring a lawsuit to the court, and let the borrower fulfill the repayment obligation after the court decides.
As a breach of contract and breach of trust, the borrower is humiliated in court, and the property under his name may be sealed up and detained according to law, and the repayment may be enforced by the court.
6. Become an untrustworthy person.
This happened after the court's decision. If the borrower has the ability to perform but refuses to perform the legal documents that have entered into force, it can be included in the list of people who have been executed for dishonesty, and then published through newspapers, radio, television, internet, court announcements and other means. So as to let the people all over the country know and show credit punishment.
7. Limit consumption
Generally, the order to restrict high consumption is applied by the lending institution and issued by the court to the debtor, that is, the borrower who fails to perform the effective legal documents. For example, children are not allowed to travel by plane, to attend expensive private schools, to buy a house or a car, to travel or take a vacation.
8. If the circumstances are serious, it may rise to the criminal level.
Borrowing money was not just a civil dispute. If the borrower just refuses to fulfill the repayment obligation, and is beaten or injured by the staff during the process of being enforced by the court, or hides, transfers or destroys the property sealed up according to law, if the circumstances are serious, it may rise to the criminal level, and may be detained or sentenced to jail.
If the online loan itself is not compliant, then this overdue online loan will not have much impact on personal credit status. But your online loan record will be kept in the online loan big data. You can check your online loan history through "Beijian Quick Check", including overdue details of online loans, debts, untrustworthy information, and whether it has been blacklisted.
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What if I can't borrow a small loan for the time being?
You can borrow money in the following ways for the time being.
1. Borrow money from relatives and friends.
It is to use the money of relatives and friends for a temporary transition to avoid these adverse consequences. After all, there is still some affection between relatives and friends, and it will not be as strange as lending institutions, but it is only an emergency at most, and the money that should be paid back must always be paid back.
2. Sell some idle assets.
Such as precious metal jewelry, self-use cars, digital appliances and other high-value assets. It is better to sell them all to pay off overdue debts than to be enforced by the court in the future. Even if it can't be paid off at one time, it can alleviate some overdue consequences, at least the attitude of repaying the arrears is good.
3. Take the initiative to negotiate with lending institutions.
Don't go to serious credit damage and go to court. When the lending institution collects overdue debts, it will actively negotiate and communicate, indicating the repayment attitude. Just need to extend the repayment time. If the purpose of the lending institution is to recover the debt, then an agreement can still be reached.
4. Be positive and work hard.
Although small loans are not yet available, the pace of life will not stop. You always have to have some sources of income, and then reduce some living expenses. The money saved can be repaid slowly. In short, it is the fundamental way to solve the problem.