1. Personal credit is damaged:

Many mobile loan platforms collect credit information. If the mobile phone loan is not returned, the corresponding overdue information will be recorded on the credit information, and it will be difficult to apply for a mortgage in the future.

2. High penalty interest:

If the mobile phone loan is not repaid, the borrower will face high overdue interest and even liquidated damages. Take Ping An Emergency Wallet as an example. The loan interest rate is 0. 1%, and the overdue interest rate is 0.2%, which is twice the loan interest rate.

3, collection harassment:

If you borrow a mobile phone and don't pay it back, most loan platforms will take various means to collect it, including texting, making phone calls and even harassing family and friends. If the mobile phone loan is not repaid, normal life will be seriously disturbed.

Extended data

Matters needing attention in loan:

1. Repay on time every month to avoid penalty interest. For borrowers, before the agreed repayment date every month, they should pay attention to whether there are enough funds in their repayment accounts to avoid being punished by the bank for their negligence, and never lose money because of their negligence, and at the same time leave a bad credit record in the bank.

2. Apply for the loan amount according to your own ability. When applying for personal loans, borrowers should make correct judgments on their economic strength and repayment ability, and at the same time make correct and objective predictions on their future income and expenditure.