Is it okay if you return the loan after it expires?
As we all know, a loan will have a repayment period, and if it is not repaid as scheduled, it will be overdue. Many people may be indifferent to overdue, thinking that although they have not repaid within the specified time, they will be able to do so in the future. But in fact, overdue repayment is not as simple as repayment. After all, it is already a breach of contract, and the lending institution will take some punishment measures against the lender.
For example, penalty interest and liquidated damages will be charged. In addition to the principal, these interest expenses must be paid off before the debt can be settled. Pay attention to the deduction sequence of arrears when repaying. Many people will say, pay the principal first, and then pay the interest. As a result, I didn't expect the lending institution to deduct the interest rate first and then the principal, so I thought that the paid-off principal was still bearing interest.
There is also a blacklist. The biggest blacklists are credit records, bank loans, and loans linked to central bank credit reporting. If there is no full repayment at maturity, even if only tens of dollars are owed, the list of lenders will be reported to the central bank for credit investigation, leaving overdue records, which will affect future credit business; And each organization also has its own notebook to record the list of people who are not trustworthy.
It can be seen that loans overdue's repayment will still have various sequelae, so it is best not to be overdue and borrow within the scope of its ability.