In the past, I could only borrow money from the bank, so it was difficult to get money. Nowadays, microfinance and credit loans are prevalent, and lack of money is easy to solve. However, borrowing too much is easy to be overdue. Moreover, loans overdue has serious consequences, so it is necessary to protect personal credit records.

What is loans overdue?

Loans overdue refers to the situation that the repayment cannot be due and the loan exceeds the agreed period. Loans overdue is very serious, which will have a great impact on the use of loans or credit cards in the future. Today, let's briefly introduce the consequences of loans overdue.

Loans overdue consequences

1. Penalty interest: If your loans overdue, it is expected that the annualized interest rate will automatically rise as a daily penalty interest, which will cause a lot of losses.

2. Bad credit record: loans overdue will stain your credit report. Once the bad record is left, it may be kept for 3-7 years, which will have an impact on future loans from other banks or handling credit cards.

3. Can't enjoy preferential loans: Because of loans overdue, you can't enjoy all kinds of preferential loans like ordinary people, and even loans are not so easy to get.

4. Blacklist: Those who deliberately default on their travel debts will be blacklisted, and they can't even take the high-speed train to fly, which will have a more serious impact on their children. Don't leave any trouble for a moment.

5. Litigation: If loans overdue exceeds a certain period of time, the bank will collect it according to law and bring a lawsuit to the court according to the loan contract and guarantee contract (mortgage or pledge contract). The court will take measures such as property preservation, including freezing deposits in all bank accounts of lenders and loan guarantors and sealing up pledged property.

6. Impact on career: If the student loan is overdue for more than 90 consecutive days and the circumstances are serious, the bank or school will publish the ID number and overdue information in the media or inform the work unit. Banks will sue those who owe money maliciously or intentionally. If it is overdue for 90 days in a row, if it is remedied in time and repaid on time, the credit level will not be greatly affected.

7. Being executed: After the judgment is made, the property will be executed according to law (deducting deposits, auctioning collateral, etc.). ) to repay the bank's loan losses. If the circumstances are serious, they will be punished by law.

A person's credit is particularly important. Overdue will stain your credit record, bring you a lot of trouble and seriously affect your later life. Therefore, we can't be overdue.