(1) bear the overdue fee.
(2) Undertake the fancy collection of the platform.
(3) Facing the crisis of trust.
(4) Personal credit information is tainted.
(5) The defendant goes to court.
I hope this answer can help you.
What are the consequences of online lending?
1, high penalty interest and liquidated damages
High penalty interest refers to the lender's failure to repay the amount specified in the loan within the specified time limit, so as to calculate the related high overdue penalty interest. The longer the debtor extends the overdue period, the higher the agreed interest, but no matter how high it is, it cannot exceed the legal scope stipulated by our laws. If the loan is not repaid, the lender will be required to pay the corresponding liquidated damages. Therefore, it is best to develop good repayment habits to avoid causing more problems in the future.
2. Credit damage
If the loan is not repaid, it will also affect its credit. Now many banks and online lending companies have adopted the * * * enjoyment system. Borrow money from banks or online lending companies and don't pay it back. Then it is possible that other online lending companies or banks know that you owe the loan and don't pay it back. If you want to apply for a loan in the future, it will be difficult or even impossible to get a loan. Because your credit information has been damaged.
Network loan
3. being harassed by various means.
If the loan is not repaid, it may be harassed by the online loan company. Sending text messages and calling relatives of borrowers or lenders 24 hours a day is still a light act.
Some online loan companies will outsource the collection to professional companies that specialize in dunning. These professional dunners have various dunning methods, and sometimes even the "violent collection" behavior of dunning companies will lead to family breakdown.
4. Serious circumstances will lead to imprisonment.
If the debtor resolutely fails to perform the repayment obligation and wants to default, resulting in a very bad plot, the court will investigate the criminal responsibility of the debtor.
Article 108 of the General Principles of Civil Law of People's Republic of China (PRC): The debt shall be paid off. If it is temporarily unable to repay, it may be repaid by the debtor in installments with the consent of the creditor or the ruling of the people's court. Those who have the ability to repay and refuse to repay shall be forced to repay by the people's court.