The consequences of overdue repayment are as follows:
If you encounter penalty interest and liquidated damages, the first thing you encounter is high penalty interest, and some financial institutions need to pay liquidated damages on the basis of penalty interest;
If the credit is damaged and loans overdue doesn't pay it back, the personal credit report will leave a stain. It will be even more difficult to apply for credit cards and loans in the future.
Being collected by various means, banks and small loan companies have their own collection systems. In the initial stage, they will send text messages and ask for payment. In some serious cases, there will even be collectors pressing them around the clock, seriously disrupting personal work and life;
If you are sued, your assets may be seized, and if you don't pay the arrears, you will also be sued. Once the court makes a verdict, you must execute the Repayment Decision, otherwise the court will seal up the property under your name according to law and repay the arrears with the proceeds from the auction.