Current location - Loan Platform Complete Network - Bank loan - I used my car mortgage to borrow money from a private loan. What will they do if I don’t have the money to pay back when it’s due? Will I bear legal responsibility? They said they would come after me.
I used my car mortgage to borrow money from a private loan. What will they do if I don’t have the money to pay back when it’s due? Will I bear legal responsibility? They said they would come after me.

Process according to the mortgage contract.

If you don’t have money, don’t get a mortgage loan from a private guarantee company.

Only people from the underworld can run guarantee companies and the like. To put it bluntly, they are loan sharks.

The state has policies to encourage the private sector to develop small loan companies, and gangsters have taken advantage of these legal loopholes, which is actually a cloak for the legalization of loan sharking.