If loans overdue doesn't pay it back, it will have a bad credit record, which will affect future loans and credit card processing. Every day after you are overdue, your name will appear in the internal system of the bank at the same time, and then the president and risk control will see it. After the deadline, the credit report will inevitably leave a bad record. Once you leave, it may last for three to seven years. If you want to borrow from other banks in the future, you may not be able to apply easily because of bad credit. If the overdue situation is serious, the mortgage and car loan will be affected in the future. Penalty interest is only the loss of money, while bad credit records are the loss of intangible assets, and the impact is irreparable by money.

Legal objectivity:

Interim Measures for the Administration of Personal Loans Article 39 With the consent of the lender, personal loans may be extended. For personal loans within one year (inclusive), the cumulative extension period shall not exceed the original loan period; For personal loans of more than one year, the cumulative extension period and the original loan period shall not exceed the maximum loan period stipulated by the loan variety.