1. Overdue will also affect personal credit. If a lender borrows money from a bank and fails to repay it within the time limit, his personal credit report will leave a bad credit record. It is very difficult to apply for credit cards and loans in the future, and most of them will be rejected, which will cause many troubles to personal production and life;

2. The most direct consequence of not repaying the credit loan is a high penalty interest, and a certain penalty may be paid. Even the principal and interest add up to a lot of expenses, and the result of not paying back on time is to increase your economic pressure;

3. In loans overdue, the lender will face all kinds of collection. Banks or financial institutions have their own collection systems. After the lender is overdue, the first-level collection will send a text message to urge the payment. If it is not returned for a long time, it will be more serious, and even there will be collectors to collect it in person;

4. If the loan is overdue for a long time and the amount is large, the lender can be sued by the financial institution. After the lawsuit is accepted, the assets of the lender may be sealed up after the court pronounced a sentence. This is a "repayment ruling" that the lender must implement, otherwise the court will seal up assets such as real estate under its name according to law and repay the arrears with the proceeds from the auction;

If the circumstances are serious, you may go to jail. This kind of non-repayment of borrowed money is a civil dispute and will not rise to the criminal level. However, if some lenders refuse to implement it and insist on not paying it back, if the circumstances are serious or bad, the court will also investigate the criminal responsibility of the borrower according to the circumstances, and even go to jail if the circumstances are serious.

legal ground

credit reporting industry regulations

Article 7 To apply for the establishment of a credit reporting agency engaged in personal credit reporting business, an application form and supporting materials that meet the conditions stipulated in Article 6 of these Regulations shall be submitted to the supervision and administration department of credit reporting industry in the State Council.

The supervision and administration department of the State Council credit information industry shall conduct a review according to law, and make a decision of approval or disapproval within 60 days from the date of accepting the application. If it decides to approve, it will issue a personal credit information business license; If it is not approved, it shall explain the reasons in writing.

A credit reporting agency established upon approval to engage in personal credit reporting business shall register with the company registration authority with a business license for personal credit reporting business.

Without the approval of the supervision and administration department of the State Council credit information industry, no unit or individual may engage in personal credit information business.