1. Impact on reputation. The platform will contact your relatives and friends and tell them that you borrowed money and didn't pay it back. The online lending platform knows the phone number of the borrower's contact person. If they don't pay back for a long time, they will call these contacts and ask them to help with the dunning.
2. Leave overdue records in the credit report. Many online loans are on credit, but not on credit, and they also cooperate with other credit platforms. Your overdue information will be recorded, affecting your credit.
3. Pay penalty interest and overdue fine. After the online loan is overdue, the online loan platform will charge higher penalty interest and liquidated damages.
Legal basis: Article 193rd of the Criminal Law of People's Republic of China (PRC) commits one of the following acts. Whoever defrauds a bank or other financial institution of loans for the purpose of illegal possession, if the amount is relatively large, shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and shall also be fined not less than 20,000 yuan but not more than 200,000 yuan; If the amount is huge or there are other serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than five years but not more than ten years, and shall also be fined not less than 50,000 yuan but not more than 500,000 yuan; If the amount is especially huge or there are other especially serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than 10 years or life imprisonment, and shall also be fined not less than 50,000 yuan but not more than 500,000 yuan or confiscated property:
(a) fabricating false reasons such as introducing funds and projects;
(two) the use of false economic contracts;
(3) using false documents;
(four) the use of false proof of property rights as a guarantee or repeated guarantee beyond the value of collateral;
(5) obtaining loans by other means.