China PICC will calculate the cash value of the borrower's insurance policy to offset the loan principal and interest. If the cash value of the policy is insufficient to offset the loan principal and interest, China PICC will send a reminder message to the borrower. If the borrower refuses to repay the arrears, the overdue records will be uploaded to the personal credit information system of the People's Bank of China, which will affect the borrower's life.
China People's Insurance Company provides policy loan services for borrowers, and borrowers can make loans by using the cash value of the policy. The loan amount will not exceed 80% of the cash value of the policy, and the borrower needs to repay the loan on time to avoid overdue. The borrower's policy expires after 30 days.
Before the policy expires, China PICC will calculate the cash value of the policy to offset the loan principal and interest, and the borrower will make up the difference. If the borrower refuses to repay the arrears, PICC China will upload the overdue records of the borrower to the personal credit information system of the People's Bank of China, and the borrower will be restricted from all high-consumption behaviors.
Moreover, borrowers will not be able to use loans and credit card services provided by commercial banks, and their food, clothing, housing and transportation will also be affected. Before the borrower pays off the debt, the borrower's children are not allowed to attend private schools with higher tuition fees or join large enterprises.
If the borrower fails to repay the arrears for a long time, PICC China will sue the borrower according to the loan contract.
What are the consequences of PICC small loans overdue?
1, resulting in penalty interest.
Usually, when the loan is not paid in full on the interest payment date, the bank will temporarily list it as a collection note and call the borrower to remind him to repay it within 7 days. Make up the loan within 7 days, and the bank will not charge any late fees. However, if the loan is not repaid for more than 7 days, the bank will classify the loan as "collection" and "deferred repayment", and then it must pay a late fee or penalty interest.
2. Pull into the blacklist and record it in the bad credit file.
The name of the lender will appear in the internal system of the bank the day after the deadline, and the credit report will inevitably leave a bad record. If you haven't paid your bill for more than three months, it's very serious. Borrowers will be recorded with bad credit records in the joint credit center, commonly known as the "blacklist", which may be retained for more than 3 years.
3. Affect future loans and credit cards.
As long as you enter the blacklist, mortgages and car loans will be affected. Penalty interest is only a loss of money, and a bad credit record is a loss of intangible assets, and its influence cannot be compensated by money.
4. Can't enjoy preferential loans.
For mortgage loans, if there are many overdue repayment records in the past loan records, even if they are not blacklisted, they may not be able to obtain the preferential interest rate of bank mortgage smoothly, or even be refused a new mortgage, except for the penalty interest for overdue repayment.
5, no flying, high-speed rail, driving, children can not go to aristocratic schools.
Once blacklisted, people who refuse to carry out court judgments or rulings will not be able to fly or take high-speed trains? Children can't go to high-cost schools, and they can't be legal representatives of new companies; There will be more punishments in the future, so it can be said that life is hard.
6. It may affect personal career.
For students whose loans are overdue for more than 90 days in a row, banks or schools can publish their names, photos, ID numbers and overdue information in the media, or inform their work units, and banks will also sue.
7. Be sued by the bank and executed by the court.
If a lawsuit is filed, the court will take property preservation measures according to the creditor's application, freeze the deposits of the lender and the loan guarantor, and seal up the corresponding real estate, vehicles and other property. After the judgment, it will be enforced according to law.
8. Those with serious circumstances will be punished by law until they are sentenced.
If he has the ability to refuse to implement the effective legal documents, the person subjected to execution will be subject to legal sanctions, including judicial detention, until he assumes criminal responsibility.
Extended data:
Tips for avoiding overdue
1, deposit 2 days in advance 1.
Loan deduction will be automatically deducted by the system in the early morning of the day of deduction. If the deduction amount is always deposited on the day of deduction, it will be one day overdue. It is recommended that you deposit enough money before the deduction date 1 2 days.
2. Write down the repayment amount and date.
You can remember your repayment amount and date by inquiring about lending institutions, online banking, mobile banking, customer service telephone and other channels. Especially when using repayment methods with different monthly payments, such as average capital, you must ensure that the amount of the deduction account is greater than the repayment amount, otherwise you will lose more than you gain because you save a few yuan or a few cents less.
3. Make good use of e-banking channels to repay money anytime and anywhere.
Personal loans can be repaid not only through bank cards, but also through online banking, mobile banking and self-service counters.
Machine and other channels to return or transfer repayment, convenient and fast.
What if PICC loan is unable to repay?
PICC is unable to repay the loan. You can explain your situation to PICC and actively communicate with them.
If negotiation fails, PICC Loan Company will sue the borrower in the local court. Once the case is won, the property under the borrower's name will be frozen for auction, and the proceeds will be repaid to PICC loan company in priority.
According to Article 514th of the Civil Law of People's Republic of China (PRC), unless otherwise stipulated by law or agreed by the parties, the creditor may require the debtor to perform the debt in the legal tender of the actual place of performance.
legal ground
Article 514th of the Civil Code of People's Republic of China (PRC) stipulates that the creditor may request the debtor to perform the debt in the legal tender of the actual place of performance, except as otherwise provided by law or agreed by the parties.
Article 515 of the Civil Law of People's Republic of China (PRC) stipulates that if there are multiple ownership and transfer targets of options in the debt, the debtor has the right to choose, and the debtor only needs to perform one of them; However, unless otherwise stipulated by law, agreement of the parties or trading habits. If the party entitled to the option fails to make a choice within the agreed time limit or the expiration of the performance period, and fails to make a choice within a reasonable time after being urged, the option shall be transferred to the other party.
Article 516 of the Civil Code of People's Republic of China (PRC) How to Exercise the Option When exercising the option, the parties shall notify the other party in time, and the target shall be determined when the notice reaches the other party. The subject matter shall not be changed after it is determined, except with the consent of the other party. Where the optional subject matter cannot be performed, the party entitled to the option shall not choose the subject matter that cannot be performed, unless the performance is caused by the other party.
Article 517 of the Civil Code of People's Republic of China (PRC) * * * If there are more than two creditors who have debts by shares, the subject matter can be divided, and if each creditor enjoys the creditor's rights according to the share, it is the creditor's rights by shares; If there are two or more debtors, the subject matter can be divided, and each debtor bears the debt according to its share, it is a debt by share. If it is difficult to determine the share of the creditor or debtor according to the share, it shall be deemed that the share is the same.
What will happen if PICC helps with loan insurance?
People's Insurance Company of China (PICC) is an unsecured loan business launched by China People's Property Insurance Co., Ltd., and it is a personal loan credit loan guarantee insurance product. It is a loan insurance designed by PICC to solve the financial problem of poor households, which can be used for daily consumption and production and operation turnover.
If there is a high penalty interest due to loans overdue's non-repayment, which may affect the credit record, if the lender still fails to repay after repeated collection, the lender may bring a lawsuit to the court and collect it by legal means. I suggest you contact the lending institution to negotiate repayment.
Reasonable use of online loans, online loans are risky, and the choice needs to be cautious. If you need a loan, it is recommended to log in to the official channel of Ping An Pocket Bank APP-Finance-Loan.
Reply time: 2021-11-29. Please refer to the latest business changes announced by Ping An Bank in official website.