1. Records of credit reporting agencies: In China, many credit reporting agencies are responsible for recording personal credit information, including loan and repayment records. If the repayment is not made on time, the borrower's credit will be damaged and may be blacklisted.
2. Blacklist impact: After entering the blacklist, the borrower's credit rating will decline, it is difficult to obtain other loans or credit cards, and it may be restricted by other financial services.
3. Collection measures: The borrower's overdue payment may also lead to collection measures, such as telephone collection, door-to-door debt collection and legal proceedings. These measures may bring extra economic and mental pressure to borrowers.
Summary: Non-repayment of online loans may blacklist borrowers, affect their credit rating and be restricted by other financial services. The borrower shall abide by the contractual obligations and repay the loan on time to safeguard personal credit.