1. Negotiate with the lending institution: When the online loan is overdue, the debtor should take the initiative to communicate with the lending institution and honestly express his repayment difficulties. Both parties can negotiate on the repayment period and amount, and seek solutions such as grace period or installment repayment.
2. Seek professional legal help: If the debtor fails to negotiate with the lending institution, he can seek the help of a professional lawyer. Lawyers can provide legal opinions and suggestions according to the actual situation of the debtor and help the debtor formulate countermeasures. Under the guidance of lawyers, debtors can communicate with lending institutions according to law and strive for their legitimate rights and interests.
3. Debt restructuring: Debt restructuring refers to adjusting the debt structure, term and interest rate through consultation with creditors when the debtor faces repayment difficulties, so as to reduce the debt pressure. Debt restructuring can help debtors reduce the repayment burden in a short time, thus having more energy to solve financial problems.
4. Increase income sources: In the case of overdue repayment of online loans, the debtor should try to increase income sources and improve repayment ability. You can consider finding a part-time job, working overtime or upgrading your skills to get a higher salary. In addition, by reducing the cost of living and arranging expenses reasonably, the debtor can use more funds for repayment.
5. Selling assets: If there are assets available for sale under the debtor's name, such as real estate and vehicles, you can consider selling them to raise repayment funds. When selling assets, the debtor shall ensure compliance with relevant laws and regulations, such as tax regulations and contract regulations. At the same time, the debtor can also seek the help of relatives and friends to see if anyone is willing to borrow money or provide guarantees to ease the pressure of overdue repayment.
The harm of online lending:
1, high interest and liquidated damages. Many online lending platforms will charge high interest and liquidated damages, which may lead to the borrower's increasingly heavy burden in the repayment process and even fall into a debt crisis.
2. Personal privacy leaks. In the process of online lending, borrowers need to provide a lot of personal information, such as ID card, bank card number and mobile phone number. This information may be leaked by online lending platforms, causing borrowers to suffer phone harassment and SMS fraud.
3. Credit history is damaged. If the borrower fails to repay the loan on time, his credit history may be damaged, which will affect his future loan and credit card application.
4. Legal risks. If the borrower fails to repay the loan on time, the online lending platform may take legal measures to recover the arrears, which may bring litigation risks to the borrower.