7-day microfinance will not generate penalty interest first. If you don't pay it back all the time, the platform will call to collect it, and also call your friends in your address book to collect it, and urge you to pay back the money through your friends. And the explosion of address book will seriously affect your normal life and reputation.

Generally, the seven-day interest rate of small loans is relatively high, and the interest rate of informal platforms exceeds the national regulations. When borrowing money, everyone must pay attention to the interest paid. If it exceeds the range that individuals can bear, it is best not to borrow money at this time, otherwise the later repayment will have a lot of influence.

Generally, the amount of seven-day microfinance is not very high. In this case, users can borrow money from friends around them without paying interest, but they need to repay it within the specified time and can't borrow it often, otherwise your relationship will be affected.

The amount of seven-day small loan is large and not returned on time. At this time, the platform may sue the borrower, and it is impossible for the borrower to repay. If the court decides not to repay the loan, it will be enforced by the court at this time. Therefore, no matter what kind of loan you apply for, you must think about the repayment plan in advance.