First, the consequences of not paying debts.
If the debtor can't pay off the debt, the creditor can only bring a lawsuit to the court and force the debtor to pay off the debt through legal channels. Under normal circumstances, creditors cannot directly exercise compulsory rights, including the act of sealing up property. But this is not absolute. If permitted by law, the creditor may seize the debtor's property. When the debtor or a third party provides certain property to guarantee the debtor to perform the debt, when the debtor fails to perform the debt, the creditor may seize the collateral and give priority to the realization of his creditor's rights with the value of the collateral. For example, if Party A borrows 1000 yuan as collateral, and fails to repay it at maturity, the creditor may detain the cattle and urge Party A to pay off the debt, or sell the cattle according to law to realize the rights, or discount the cattle for himself, and the balance can be returned. This is the mortgage in civil law.
Second, how to pay off the loan?
When we owe others loans and can't repay them, we should work hard, or borrow money from relatives and friends, and then pay them back slowly. Borrowing money online has a clear repayment date. Failure to pay back the money within the repayment date will affect personal credit information. You can't take public transportation in the future, which will be restricted. The schooling and employment of high-spending children will be seriously affected.
Third, summarize.
Paying off debts is a matter of course. Some people want to refuse to repay by exchanging old ones for new ones, so this phenomenon will also affect personal credit information and children's lives. Especially if you borrow money online, once you don't pay it back, you will be maliciously collected by debt collectors. For example, if Bo calls the debtor's address book, all contacts will call the debtor to make trouble at work. Therefore, not paying debts will affect personal life and personal work.