1, resulting in high penalty interest or liquidated damages:
At present, every lending institution has clear regulations on overdue repayment. Once overdue, the default interest or liquidated damages will be calculated at one to two times the original interest rate, and compound interest will be calculated for a long time, so the amount owed will be even greater.
2, personal credit left a stain:
At present, most financial institutions are connected to the big data system of the Credit Information Center. Once it is not returned for a long time, it will be reported to the database of the credit information center, and the words overdue will be displayed on the personal credit information record. In the future, it will be difficult to get loans from banks and do other business.
3. Encounter pattern set:
Nowadays, many small loan companies have special collection personnel, who will take all means to force borrowers to repay. Generally, the borrower is reminded to repay the loan in time by dunning SMS first, and then the borrower's address book friends may be blown up, and finally there may be violent collection at home.
4. The trip is blocked:
Long-term overdue, the borrower is likely to be included in the national blacklist of dishonesty, unable to take high-speed trains, planes, and high-consumption behaviors, which seriously interferes with daily travel.
5. Being sued by the lending institution:
If the long-term collection by the lending institution is fruitless, it will also bring a lawsuit to the court. If the borrower fails to repay the debt, once the court decides to pay off the debt immediately, the borrower must pay off the debt on time, otherwise his personal assets may be seized.
Extended data:
Won't the loan still go to jail?
The loan is not only a civil dispute, but also won't go to jail. If a bank brings a lawsuit to the court and the debtor fails to perform the court judgment after the court judgment, the bank may apply to the court for compulsory execution. If the debtor has the ability to perform the judgment and refuses to execute it, the serious circumstances will constitute the crime of refusing to execute the judgment. If it is really difficult to perform, the court will also extend the performance time.