1. Credit stain

Overdue repayment will be recorded in the personal credit report, not to mention the arrears will naturally be recorded in the credit report. Especially bank loans, if they are not repaid, 100% will be credited. In addition, although many small loans and online loan products in the market have not been connected to credit reporting, many small loan products also publicize not to look at credit reporting loans, but if the borrower really does not repay, it may be recorded in the third-party credit reporting. I don't think it is necessary to emphasize the influence of credit stain.

collect?money?

The collection by banking institutions is mild, but if it is a small loan company, private lending or usury, the collection is more violent. Not only can you avoid phone bombing, but your family (emergency contacts) and friends will also be included in the collection. From being harassed by phone calls and text messages to being beaten and splashed with paint.

Be prosecuted

If the borrower owes a large amount of money and fails to repay it after repeated collection, it may be sued by financial institutions to the law. When it comes to litigation, if the court decides to repay the loan, it will be included in the "blacklist of people who have lost their trust", so they will be restricted from flying, high-speed rail and high consumption in the future.

What if the loan is not paid?

Since the loan is not yet available, is it advisable to repay the loan by loan? Bian Xiao thinks that if the debt is high, and then find other loan platforms to apply for loans, the corresponding loan interest rate will often be very high, even usury. This is tantamount to robbing Peter to pay Paul, and finally the debt is getting bigger and bigger.

The correct way is:

1. Loan extension

If the repayment period is approaching and you are unable to repay the arrears, you can contact the bank or lending institution to apply for an extension to ease the repayment pressure. It is recommended to apply one month in advance. The advantage of this method is naturally that it will not generate expected interest and will not be blacklisted by banks.

2. Apply for bill installment payment

If the amount of a credit card bill is large, or the funds are temporarily tight, you can call the bank customer service to handle the bill installment. This not only reduces the repayment pressure, but also does not affect the personal credit record. In addition, although the minimum repayment amount will not lead to credit damage, the corresponding handling fee and interest are higher than the bill installment.

Step 3 borrow money from relatives and friends

If the amount owed is small, you can borrow money from relatives and friends to pay it back first, so as to avoid overdue fees and even affect your personal credit history. Even if you need to pay interest, I believe it will not be too high.