1. The penalty interest will be charged from the overdue date until all the arrears are paid off. Liquidated damages = current payable principal (all outstanding principal) × liquidated damages ratio (0.06%-0. 15%)× days of default.
2. After the system reports the overdue situation to the central bank for credit reporting, personal credit reporting will be damaged. Overdue records in credit reports cannot be eliminated immediately after the arrears are paid off, and it usually takes at least five years to be deleted.
3. Jingdong Financial System is likely to implement risk control and downgrade, or even freeze the quota, so that users can no longer borrow. Because of credit problems, it is difficult to successfully apply for credit business in other financial institutions in a short time.
4. Jingdong Finance Association sends text messages and calls for dunning from time to time. If there is no response to repeated dunning, the user owes money for a long time, and even the platform can't contact anyone, and the amount owed is quite high, JD Finance may also sue the user.