Impact of outstanding loans
The borrower needs to pay the corresponding liquidated damages or penalty interest according to the contract. Attract a lawsuit. If the borrower fails to pay back the money, the lending institution may bring a lawsuit to the court. If the borrower loses the case, he will not only face the auction of assets to pay off debts, but also bear legal fees, preservation fees, execution fees and attorney fees.
Personal credit information has been affected. Now many lending institutions are connected with the credit information system of the People's Bank of China, and the credit stain of borrowers' non-repayment will soon be uploaded to the credit information system of the central bank, so it will be very difficult to borrow from other lending institutions.
If the money is borrowed from a private person, it may be sued to the court and included in Lao Lai, and the corresponding consumption will also be affected, and even the children's study and employment will be restricted. At the same time, the feelings between friends will disappear.
The creditor has the right to require the debtor to perform its obligations in accordance with the contract or according to law. If the debtor refuses to return it, the creditor may sue the court for a loan.