First of all, the borrower may be subject to very high penalties. These penalties are usually charged in the form of late interest, which is very high on a daily basis.

In addition, the borrower's credit history will be affected, which will impact their ability to borrow in the future. They may find it difficult to borrow from other banks or lenders, which can make life very difficult for them in the future. In the worst case scenario, the borrowers' legal rights and interests may be violated by online lending platforms and collection agencies, and they may face various legal issues and difficulties.

Secondly, for online lending platforms, non-performing debts can also have a very serious impact on their entire business. If a particular platform has a large number of non-performing loans, then investors may think that their money cannot be protected and may exit the platform. This will result in the online lending platform not being able to continue its operations, which can have a very significant impact on both borrowers and investors.

While many online loans are not creditworthy nowadays, each small loan platform has its own cooperative third-party big data credit platform, if there is a late or non-payment in one, then the third-party platform it cooperates with will leave a record, and after that, if you want to apply for a loan on other small loan platforms, it is basically very difficult to pass. You can get a big data report and keep track of your big data status on "Xiaoshi Xincha", which is a big data query system for online loans, providing accurate and complete data information for online loan applicants.

I myself have had a similar experience. When a friend of mine was facing financial difficulties, I borrowed some money from him to help him tide over his difficulties. However, he was not able to repay the loan on time in the end.

I found myself in a debt nightmare, harassed many times by collection agencies and lawyers, and very annoyed and disturbed. I had to do something to pay off my debt and prevent this from happening again.

Since then, I have been much more careful with my lending and borrowing to make sure I don't get into this bad situation again. I recommend that you keep these risks in mind as well, be careful about applying for online loans, and make sure to return your debt on time.