2. Overdue records are recorded in credit information; Although applying for flowers, loans and IOUs mainly refers to your sesame credit score and third-party credit score. Only when the credit score reaches the standard can you apply. However, once overdue, it may be reported to the central bank's credit information system, such as Alipay. Although many online loans have not been connected to the PBOC credit information system, it may not be long before they will be connected to the PBOC credit information system. Therefore, in order not to damage personal credit, it is suggested to ensure repayment on time as much as possible and handle it as soon as possible after the deadline.
3. It will be collected in various ways; If the borrower fails to repay the loan within the time limit, the lender will go through the collection procedures in order to recover the arrears, such as SMS collection, telephone collection, door-to-door collection and so on. At that time, not only your life will be affected, but if you leave an emergency contact or read the address book, your relatives and friends will also be harassed by various collection calls.
4. Will be sued to the court; Don't think it's no big deal to collect, just change your contact information. In fact, if the borrower fails to repay the loan for a long time, the lender may take it to court. If the amount owed is large, you may go to jail. There were news reports before, and some netizens refused to pay back their IOUs and were taken to court by JD.COM. Therefore, it is necessary to warn friends who have applied for a small loan and do not intend to pay it back. Don't take any chances.
5. It is difficult to apply for a loan in the future; As mentioned above, many small loan products are applying for or preparing to access the central bank's credit information. Moreover, overdue repayment will also affect the credit rating of third parties, and it will be quite difficult to apply for loans on other loan platforms in the future. And if the small loan account has been connected to credit information, such as borrowing, once it is not returned, it may affect the approval of bank loans. Even if it is approved by luck, the credit line will be greatly affected.
Article 671 of the Civil Code of People's Republic of China (PRC), if the lender fails to provide the loan according to the agreed date and amount, thus causing losses to the borrower, it shall compensate for the losses.
If the borrower fails to collect the loan according to the agreed date and amount, it shall pay interest according to the agreed date and amount.
Article 672 The lender may inspect and supervise the use of the loan as agreed. The borrower shall regularly provide relevant financial and accounting statements or other materials to the lender as agreed.
Article 673 Where the borrower fails to use the loan according to the agreed purpose, the lender may stop issuing the loan, recover the loan in advance or terminate the contract.
Article 674 The borrower shall pay interest at the agreed time limit. If the time limit for paying interest is not stipulated or clearly stipulated, and cannot be determined according to the provisions of Article 510 of this Law, if the loan period is less than one year, it shall be paid together with the loan; If the loan term is more than one year, it shall be paid at the end of each year; if the remaining term is less than one year, it shall be paid together with the loan.
Article 675 The borrower shall repay the loan within the agreed time limit. If the term of the loan is not agreed or clearly agreed, and cannot be determined according to the provisions of Article 510 of this Law, the borrower may return it at any time; The lender may urge the borrower to return it within a reasonable period of time.
Article 676 If the borrower fails to repay the loan within the agreed time limit, it shall pay the overdue interest in accordance with the agreement or the relevant provisions of the state.
Article 677 Where the borrower repays the loan in advance, unless otherwise agreed by the parties, the interest shall be calculated according to the actual loan period.