Loans overdue's condition is that the borrower fails to repay the loan on time within the prescribed time limit. Generally speaking, if a loan is overdue after repayment, it will be counted as overdue. However, if there is a grace period for repayment, it should be added to the repayment date. Loans overdue will collect liquidated damages and penalty interest, but it will not be reported to the Credit Bureau.

Overdue consequences:

1, resulting in penalty interest.

Usually, when the loan is not paid in full on the interest payment date, the bank will temporarily list it as a collection note and call the borrower to remind him to repay it within 7 days. Make up the loan within 7 days, and the bank will not charge any late fees. However, if the payment is overdue for more than 7 days, the bank will classify the loan as "collection" and "deferred payment", and then you must pay the late payment fee or penalty interest. The penalty interest of each lending institution is different. For example, Citibank's penalty interest rate is 50% higher than the original interest rate.

2. Pull into the blacklist and record it in the bad credit file.

The name of the lender will appear in the internal system of the bank the day after the deadline, and the credit report will inevitably leave a bad record. If you haven't paid your bill for more than three months, it's very serious. Borrowers will be recorded with bad credit records in the joint credit center, commonly known as the "blacklist", which may be retained for more than 3 years.

3. Affect future loans and credit cards.

As long as you enter the blacklist, mortgages and car loans will be affected. Penalty interest is only a loss of money, and a bad credit record is a loss of intangible assets, and its influence cannot be compensated by money.

4. Can't enjoy preferential loans.

For mortgage loans, if there are many overdue repayment records in the past loan records, even if they are not blacklisted, they may not be able to obtain the preferential interest rate of bank mortgage smoothly, or even be refused a new mortgage, except for the penalty interest for overdue repayment.

5, no flying, high-speed rail, driving, children can not go to aristocratic schools.

Those who refuse to implement the court's judgment or ruling, once blacklisted, will not be able to take the plane or high-speed rail.