First, credit will be damaged: whether it is money borrowed from banks or money borrowed from online lending platforms, it will be much more difficult to apply for credit cards or loans in the future if it is overdue. 2. Penalty interest and liquidated damages: If the loan is not repaid, the first thing you will encounter is high interest and corresponding liquidated damages. Third, bear all kinds of malicious collections from the platform.
If you are in loans overdue, you will be charged a high penalty interest, and will be collected. If it is overdue, it will be recorded in the credit report. Please pay attention to your repayment ability and read the loan repayment agreement carefully before applying for a loan to avoid overdue or violation of the agreement.