Most loan companies will collect the money when the borrower is overdue, which is the most cost-effective method. Therefore, if the borrower is overdue, the first thing to face is the "telephone bombing" of everyone's loan collection personnel.

2. Home visits

Many borrowers received short messages from everyone after the deadline, saying that they would send staff to their homes and the public security organs would collect evidence. In fact, according to the feedback from netizens, it seems that Renren Loan has not taken such measures, probably because the overdue amount of the borrower is not particularly large, and in case of serious overdue, it will generally be solved directly through litigation.

In addition to collection, there are also these effects: penalty interest+management fee+credit rating decline.

Step 3 pay part in advance

Some borrowers said that if it is difficult to repay all the loans after receiving the dunning call, they can repay part of the money first and then pay the rest later. For this collection method, the borrower should keep a certain vigilance, and it is best to repay in full as soon as possible in accordance with the contract. If possible, part of the repayment should also be made through official Renren Loan APP, official website and other channels. Don't directly transfer the other party's private account to avoid fraudulent phone calls.

Step 4 sue

If the amount is large and overdue for a long time, everyone can sue the borrower to get back the arrears. If the borrower fails to repay the loan within 15 days after receiving the payment order from the people's court, and does not raise a written objection, then everyone has the right to be enforced by the people's court.

To sum up, if you choose to borrow from Renren.com, you should pay back the money on time as agreed in the contract, and you should consider whether you have the ability to repay it before lending, otherwise it will cause a series of troubles.