Regarding the loan policy, each lending institution is different, and of course the penalty interest of each lending institution is different. If the credit is in loans overdue, the lending institution will call the borrower to remind him to repay the loan, and at the same time, default interest will be imposed on a daily basis, and the interest rate will rise. For example, some banks will charge 50% interest on the basis of the original interest rate, and some small loan companies may charge a little more liquidated damages.

(2) Take charge of the fancy collection of the platform

The collection is generally divided into three stages: the first stage, just a few days after the overdue, the platform customer service MM will gently remind you that it is overdue, please repay it on time; In the second stage, if it is overdue for a long time, the platform customer service will seriously warn that the threat of overdue will face serious consequences; In the third stage, it was overdue for a long time, and the platform stopped trying to convince the other party and began to take practical actions.

(3) Having a bad credit record.

At present, most online lending platforms have been connected to the People's Bank of China Credit Information System, but it has become an inevitable trend to access the People's Bank of China Credit Information System. In the future, if the online lending platform fails to repay it within the time limit, it will be recorded in the credit information system of the People's Bank of China like bank loans and credit cards, causing credit stains and being recorded in the "Lao Lai" blacklist. If the previous consequences are only shame, then the stain of credit information will affect real life. If you want to buy a house, you can't get a loan, if you want to buy a car, you can't get a mortgage, and the plane high-speed rail won't give up your seat.

(4) legal proceedings

Loans overdue for more than 3 months, the lending institutions will collect loans according to law. If it still refuses to repay, it will bring a lawsuit to the court according to the loan contract and guarantee contract, and the court will take measures such as property preservation, including freezing the deposits in all bank accounts of the lender and the loan guarantor and sealing up the pledged property.