Personal credit records have a serious negative impact. After the responsible person completes the repayment of the loan and corresponding interest, he still needs to wait for 5 years before the bad personal credit records can be eliminated. Even if the personal loan is written off by the bank, the obligation to repay the money must be fulfilled, and the bank may step up collection efforts.

Loan write-off refers to the operation by the bank to write off the user's bad debt loan or the corresponding loss amount. When non-performing loans need to be written off, certain conditions must be met and relevant legal procedures and regulations must be followed. Depending on the size of the bad debt loan, different levels of review procedures are required. The write-off of non-performing loans was implemented in 2002 for defaulted loans. Loans that can be written off can be divided into loss, doubtful and substandard loans. Usually if a borrower defaults on repayment for more than three months, the amount will be easily included in the scope of non-performing loans. After the bank confirms that it cannot be recovered, it needs to be excluded from the corresponding bank's profits.

1. What are the consequences if the bank loan is not repaid?

1. The bank will take certain collection measures. During the initial phone notification, if the loan is indeed repaid, you can contact the bank Explain your actual situation and try to apply for an extension. This depends on the regulations of different banks;

Note: Extension will be regarded as negative information in the credit report, indicating that there are certain problems with your repayment ability, but Still better than overdue.

2. If you are overdue for more than 90 days, if the circumstances are serious, it can be regarded as malicious overdue, and the bank's collection may also cause pressure on yourself and your family, affecting the normal life of the individual and the family;

3. In terms of overdue charges, there will be some expenses such as liquidated damages, penalty interest, etc., which need to be charged according to the contract. Different institutions and different loan products charge different liquidated damages or penalty interest;

4. It will have an impact on personal credit records. A bad credit record will become a hindrance to future housing loans, car loans and other loans, as well as the application of credit cards;

5. If the loan cannot be repaid, If you are sued to the court and still fail to repay the debt after the court's judgment is executed, you can report it to the Supreme People's Court and enter the "list of dishonest persons subject to execution", also commonly known as the "list of dishonest people", and you will be prohibited from traveling by airplane, high-speed rail, etc.

2. What to do if you can’t pay back the online loan

1. The online loan platform will send people to keep urging you for the loan. It will take a long time before you pay it back. .

2. If an online loan platform sues, it is very likely that you will apply to the court to preserve your various assets, such as real estate, cars, deposits, stocks, etc.

3. If you cannot repay the loan principal and loan collection fees after liquidating your assets, the online loan platform may apply to enforce your salary income (basic living expenses will be deducted).

4. Unless you deliberately defraud or provide false information to obtain a loan, you will generally not be put in jail.

5. If you cannot exchange the money within a certain period of time, you will be blacklisted by the credit system. It will be impossible to get a loan and it will be difficult to apply for a credit card. It is said that the country has begun to restrict the blacklisted people. People spend a lot of money on airplanes, such as soft sleeper seats.