1. If the loan cannot be repaid at maturity, it can be extended. If you have a good attitude and show that you are unable to repay in the short term, you can apply to the bank for deferred repayment. When the repayment amount is too large and the repayment ability is insufficient, you can apply for repayment by installments, and you can divide the arrears into multiple installments to ease the repayment pressure of each installment.
2. Legal basis: Article 678th of the Civil Code of People's Republic of China (PRC).
The borrower may apply to the lender for extension before the repayment period expires; If the lender agrees, it can be extended.
Article 674
The borrower shall pay interest at the agreed time limit. If the time limit for paying interest is not stipulated or clearly stipulated, and cannot be determined according to the provisions of Article 510 of this Law, if the loan period is less than one year, it shall be paid together with the loan; If the loan term is more than one year, it shall be paid at the end of each year; if the remaining term is less than one year, it shall be paid together with the loan.
Second, what are the consequences of not repaying the loan?
The consequences of not repaying the loan are as follows:
1, which affects the personal credit of the borrower;
2. If the borrower fails to repay the loan on time, the bank will impose a penalty interest on the borrower, resulting in great repayment pressure on the borrower;
When you are in loans overdue for one month, the bank will send you a message. If it is overdue for more than three months, the bank will call or collect it at home;
4. If loans overdue is over six months, the bank will sue the borrower to the court, and the court summons will be sent to the borrower's home. On the day of the court session, regardless of whether the borrower appears in court, the court will freeze the collateral originally mortgaged by the borrower to the bank and then auction it. The proceeds from the collateral auction will be used for repayment.