1. Extension applications usually need to communicate with lending institutions and provide relevant application materials and reasons.
2. The lender will evaluate whether to approve the extension application according to the borrower's personal situation and the terms in the loan agreement.
3. The borrower may need to pay a certain extension fee or extra interest as a price.
4. Delay can't solve the problem permanently, but only postpone the unpaid amount to a later period of time, and may increase the overall debt.
5. If the lending institution agrees to postpone the application, the borrower shall perform its obligations in strict accordance with the new repayment plan to avoid further overdue risks.
Summary:
When the borrower cannot repay the online loan in time, he can try to apply for an extension. However, the extension is only an expedient measure. Borrowers need to carefully assess their own economic situation, actively communicate with lending institutions, and find more feasible repayment methods.