If the online loan is not repaid, it will lead to the following consequences:
1. From the overdue date, the platform will collect overdue penalty interest on a daily basis until it is fully paid off, and the overdue penalty interest rate will generally be higher than the normal loan interest rate. . The longer the overdue period, the more penalty interest will be generated, and the more money to be repaid at that time, the greater the repayment pressure.
2. Overdue cases will be reported to big data by the system, leaving bad records, damaging personal credit and hindering subsequent loans. I am afraid that only by paying off overdue debts and repairing damaged credit can we borrow new loans smoothly.
3. The platform will continue to send text messages, calling for collection. If I can't reach myself, I'll call the emergency contact. Moreover, some platforms have obtained address book information, and it is estimated that they will call relatives and friends in the address book.
4. If the overdue time exceeds three months, the platform has the right. If the arrears have not been repaid, and the amount of arrears is large and the circumstances are serious, if the platform can't contact anyone, then it may be sued.
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Extended data:
What are the consequences of online lending?
If you don't return it after borrowing it, it is overdue. Once overdue, it will lead to the following serious consequences:
1, resulting in overdue charges:
After overdue, the system will charge a penalty interest, and the interest rate of the penalty interest will generally be higher than the agreed interest rate of the loan. If the loan is not repaid, the longer the overdue period, the more repayment, and the greater the repayment pressure.
2. Affect personal credit:
The platform will report the overdue situation to big data, resulting in personal credit damage; If the lending institution of online loan cooperation accesses the central bank's credit information system, the platform is likely to report the overdue situation to the central bank for credit information, leaving a bad record in the personal credit information report, which will affect personal credit information.
3. Subsequent credit is frozen:
Because most of the information between online loans is interoperable, and then go to other platforms to handle online loans, once the platform finds bad records in big data, it is likely to refuse to approve loans; In addition, if the credit report is overdue, then going to a bank or other licensed consumer finance company to handle credit business will also be hindered by credit problems.
What are the consequences of overdue online loans?
Hello, if you don't meet the deadline, you will face repayment reminder, penalty interest and credit investigation. I hope you can repay on time.
I suggest you find out about spending money on Xiaoman. After all, borrowing money on Xiaoman platform is convenient and easy to use. Du Xiaoman's credit service products have money to spend, providing users with safe, convenient, unsecured and unsecured credit services. If you borrow money, you can go to Xiaoman APP (click on the official measurement). The daily interest rate of money consumption loans is as low as 0.02%, and the annualized interest rate is as low as 7.2%. It has the characteristics of simple application, low interest rate, fast loan, flexible loan repayment, transparent interest rate and strong security.
I would like to share with you the application conditions for consuming products with money: it is mainly divided into two parts: age requirements and information requirements.
1. Age requirement: 18-55 years old. Special note: if you have money to spend, you refuse to provide installment loans to students at school. If you are a student at school, please give up the application.
Information requirements: You need to provide your second-generation ID card and your debit card during the application process.
Note: the application only supports debit cards, and the application card is also your loan bank card. My identity information needs to be the second-generation ID card information, and cannot be processed with temporary id card, expired ID cards or first-generation ID cards.
This answer is provided by Youhuahua. Due to objective reasons such as the timeliness of the content, if the answer content is inconsistent with the actual interest rate calculation method of Youhuahua loan products, the display on Xiaoman APP- Youhuahua Loan page shall prevail. I hope this answer is helpful to you.
What would happen if peer-to-peer lending didn't happen?
Loans will have many consequences. If it is a loan connected to the central bank's credit report, it will be displayed on the personal credit report, which will affect the application for credit cards and loans in the future. In addition, it will face the following consequences:
1, dunning, overdue online loans will always be dunning, and life and work have been greatly affected.
2. Being pulled into the "list of untrustworthy people", if the loan is not repaid all the time, the loan platform can apply to, so that the lender will be pulled into the "list of untrustworthy people", which will affect his future travel. Some high-speed trains, planes, train sleepers, etc. There are also some high-end places that are restricted.
3. If the property is frozen or sealed up, the bank deposit is frozen, and the house and car under its name are sealed up.
4. The online loan with high interest has been overdue, which will only lead to higher and higher interest, and finally bear high interest.
5. If it is serious, it will be criminal. If the online loan is overdue and the amount is large, it may involve crimes and then be criminally detained.
Legal basis:
Article 671 of the Civil Code of People's Republic of China (PRC), if the lender fails to provide the loan according to the agreed date and amount, thus causing losses to the borrower, it shall compensate for the losses. If the borrower fails to collect the loan according to the agreed date and amount, it shall pay interest according to the agreed date and amount.