74 1 online loan means that the loan period is only 7 days or 14 days, which is an ultra-short-term loan. Generally, the interest on such loans will be higher. Those loans with ultra-high risks have a loan term of only 7 days and 14 days, which is generally called 7 14 anti-aircraft guns.

Because of the high interest rate, many people can't afford it, and some people don't plan to pay it back. 7 14 online loans will face multiple problems once they are overdue.

1. Extra high overdue interest

According to the routine of 7 14, it is necessary to pay high overdue interest if it is overdue. For example, the daily overdue fee is 10%, some are 10% of the loan amount and some are 10% of the overdue amount, but they are all calculated on a daily basis.

2. Overdue collection

If there is overdue, in addition to ultra-high overdue interest, you will also encounter collection.

3. Credit risk

Loans will not always have credit risk. Even if some of them are not reported by the central bank, it does not mean that the overdue situation will not be recorded. There are many third-party credit reports now, and overdue data can be enjoyed. Borrowers will be blacklisted.