1. What should I do if the bank loan is about to expire?

1. Direct appeal

If the borrower’s loan Overdue is caused by some factors beyond the control of the third party, such as bankruptcy, serious illness, theft, etc. In such cases, the borrower can directly appeal for an extension of repayment.

If the deduction fails due to an error in the bank system, you can appeal directly to the bank. After being approved by the bank, write an "Overdue Objection Appeal Report" to explain the situation, get it stamped by the lending bank for confirmation, and finally submit the report to the Credit Reference Center for appeal. If successful, it can generally be revoked after 20 days.

2. Apply for personalized installment

When the loan is overdue and unable to repay, the borrower needs to first sort out how much of the loan principal, interest and penalty interest are left. Then sort out a complete repayment plan based on your current income. Then call the customer service number of the lending institution, explain your current overdue situation, and then apply for personalized installment in a gentle manner.

After all, no lending institution wants the principal it lends to be unable to be returned. As long as the borrower has the willingness and ability to repay, it can be negotiated.

3. Ask for help from relatives and friends

If the borrower’s negotiation application is rejected, you can also ask for help from your relatives and friends. After all, at the last moment, it is his family who are willing to help him.

2. What are the consequences of overdue bank loans

1. High penalty interest

If the borrower does not repay within the agreed period, the loan will be Institutions have the right to punish borrowers and charge penalty interest. The longer the overdue period, the higher the penalty interest rate.

2. Credit reporting on bad records

After the credit report is overdue, bad records will inevitably be left on the credit report. If the circumstances are serious, not only will the person be included in the list of dishonest persons subject to enforcement, but it will also affect future real estate loans.

After being included in the list of dishonest persons subject to enforcement, you will face a series of "restrictions on high consumption" behaviors. In addition to what everyone often hears about not being able to take planes, trains, or stay in interstellar hotels, you will also face restrictions on purchasing real estate.

3. Being blacklisted by the lending institution

When a borrower is blacklisted due to serious overdue payment, the lending institution will publish the identity card number, residential address, and overdue information in the media. information.

4. Frozen personal assets

Banks and other lending institutions will collect due loans in accordance with the law and file lawsuits in court in accordance with the loan contract.

The court will take measures such as property preservation, freeze the deposits in the borrower's bank account, and seize the mortgaged and pledged properties.

After using a bank loan, if you fail to repay it on time, first of all, it will leave an expected record in the credit reporting system. Secondly, you may be sued by the bank, and your property may even be frozen. Therefore, in the bank When the loan cannot be repaid, you can contact the bank in time to negotiate repayment, such as applying for an extension or installment repayment.

If the bank loan cannot be repaid, the debtor can take the initiative to contact the bank and truthfully inform the bank of his personal situation, indicating that he is not overdue maliciously, but does not currently have the ability to repay, and negotiate with the bank to formulate personalized installments. . Once the negotiation is successful, the debtor must repay within the specified time.