1. First of all, Gitzo Loan will not generate penalty interest, that is, overdue interest, which is the penalty interest generated by loans overdue. The general operation is to increase the penalty interest by 30%-50% on the basis of the original loan interest rate. Once overdue, it will increase the repayment pressure of the repayment person. The longer the overdue time, the more repayment is needed. What if I owe Gitzo a loan? High interest rate is the biggest consequence.
2. Secondly, for customers who are overdue for more than three months, Gitzo Loan will not be sued by the court according to the loan contract, and the court will take compulsory measures to freeze the lender's deposits and perform property liquidation to repay the losses of the lending institution. If the circumstances are serious, they will be punished by law.
3. Customers who fail to repay Gitzo loans can no longer enjoy preferential loan policies in the future. Generally speaking, high-quality borrowers with good credit are more likely to get loans with lower expected annualized interest rates. If the borrower's credit is damaged due to loans overdue's non-repayment, it is a loan, but it is difficult to achieve a lower expected annualized interest rate.
4. If Gitzo stays in loans overdue for too long, Gitzo will send someone to collect it, which will affect personal reputation and life.
Gitzo loans overdue Extended Data
1. If the lender's Gitzo loans overdue behavior occurs within 20 days, generally, the overdue behavior has not been reported at this time, and the lender still has a chance to make up for it. At this time, the lender should take the initiative to pay the principal and interest in arrears, contact the lending institution actively to show that it is not maliciously overdue, and inform the reason for the overdue. I hope that Gitzo Loan will not record the overdue in the credit report.
2. If it is overdue for more than 20 days, Gitzo will basically be overdue at this time, which is already on the credit record. What the lender can do is to repay the loan as soon as possible, and don't make any overdue behavior, and then cancel the record after five years.
Gitzo official website-List of Frequently Asked Questions (final)