Legal subjectivity:

If you default on a bank loan and run away, you will definitely be punished by law. First of all, a personal loan will not tarnish your credit history. A bad credit record will become a "stumbling block" for your next loan. Moreover, if you don't repay the loan when it is due, the bank will still calculate the daily interest. The longer you delay, the higher the interest. If you have extra money, you should still behave yourself. Make your repayments on time and it will be easier if you need a loan later. After the due date, the bank will first send a text message to remind the borrower to repay, or bank staff will call to press for payment. If the payment is not repaid, bank staff will come to collect the money. I believe that many friends will repay on time, but if the borrower still does not repay under such circumstances, the bank will solve the problem through legal means. If you apply for a mortgage loan, then your collateral may face auction. The money from the auction will first be used to repay the remaining principal and interest, litigation fees, attorney fees and other expenses. If there is any remaining amount, it will be returned to the borrower in full. This process can take at least three months before the assets can be cashed into cash. During this period, the borrower can raise funds, win the battle for the assets, and use the funds to get the lender to withdraw the lawsuit. Legal objectivity:

Article 7 of the "Guidelines for the Registration, Management and Registration of Online Lending Information Intermediaries" When a newly established online lending information intermediary applies for registration, it shall submit a letter of compliance operation commitment in writing and conduct the following matters: Commitment: (1) Strictly abide by the relevant provisions of the "Interim Measures for the Management of Business Activities of Online Lending Information Intermediaries" during the operation period, and operate in compliance with laws and regulations; (2) Cooperate with the supervision of local financial regulatory authorities and the Banking Regulatory Bureau in accordance with the law; (3) ) Ensure timely submission of true and accurate relevant data and information to local financial regulatory authorities and banking regulatory bureaus.