This loan will not have the following consequences:
1, encountered various payment methods.
If loans overdue fails to repay the loan, the lender will handle the collection procedures. The most common collection forms of borrowers are: SMS collection, telephone collection and door-to-door collection. This will cause great trouble to the borrower's life and work.
2. Pay a high overdue fee.
If the loan is not repaid, you will have to pay a high overdue fee, which generally includes liquidated damages and penalty interest. The overdue fees for different loan products of different institutions are different, and the contract shall prevail, but this fee is generally not low. The longer the arrears are delayed, the higher the overdue fee will be.
3. Overdue records are recorded in credit information.
If you apply for a bank loan, the overdue record will be reported to the central bank's credit information system. Once the credit is damaged, it will be difficult to apply for a loan later and then apply for a bank card and a credit card.
4. Facing the risk of being sued.
The most serious consequence of not repaying the loan can be said to be the risk of being sued. If you are sued to the court and still don't repay the loan after the court's decision, then the borrower will be included in the "list of untrustworthy people", which is what we often call the "list of old losers". At that time, even the qualifications for flying and high-speed rail were not available. It can be said that it was difficult to move.