Everyone is familiar with loans, but many people don't know what unsecured loans are. Unsecured loan means that you can successfully apply without providing any collateral or third-party guarantee. Although there is no need for collateral, if the borrower fails to repay the loan on time, it will have many bad effects. So, what if there is no money for unsecured loans? Come and help everyone. Unsecured microfinance is certainly different from ordinary mortgage loans. When the loan cannot be repaid on time, the bank cannot auction the borrower's collateral. So banks usually give borrowers a grace period. If repayment is made within the grace period, there will be no overdue charges and personal credit history will not be affected. If the lender expects that he may not be able to repay the loan on time, he can apply to the bank for an extension of the loan period. After receiving the application, the bank will investigate the borrower and will generally agree to the extension application. However, if the borrower often delays but fails to pay off the debt, the bank has the right to bring a lawsuit to the court. Generally speaking, in terms of extension period, the extension period of short-term loans shall not exceed the loan period: the extension period of medium-term loans shall not exceed half of the original loan period, and the extension period of long-term loans shall not exceed 3 years. Unless otherwise stipulated by the state. If the borrower fails to repay the loan on time and does not apply to the bank for extension, the bank will default and be overdue, which will not only generate default interest, but also affect the borrower's personal credit record. The above is all about the lack of money to repay unsecured small loans. Reminder: Although unsecured micro-loans can effectively solve the problem of borrowers' shortage of funds, we still have to take seriously the problem of repayment without money. If you really can't repay the loan on time, you must apply to the bank for loan extension, so as not to affect your personal credit.