Consequences of overdue online loans:
1, resulting in penalty interest. This is a financial loss. If the credit is loans overdue, the lending institution will first make a payment to remind the borrower to repay the loan, and the interest rate will rise at a daily penalty interest rate. Although the policies of each lending institution are different, on the whole, banks will be more relaxed than small loan companies;
2. Have a bad credit record. Once you leave a bad record, you may not be able to apply for a credit card or loan. Banks or other lending institutions have strict auditing standards before lending, one of which is your credit history;
3. Can't enjoy preferential loans. When many people apply for mortgage again, they find that they have left too many overdue repayment records on the old mortgage because of carelessness. In addition to the penalty interest for overdue mortgage repayment, they may not be able to obtain the preferential interest rate of bank mortgage smoothly. More importantly, it is impossible to apply for a mortgage again.
To sum up, overdue online loans can be handled legally. If the online loan is overdue, it is reasonable for legal assistance to handle it. The Legal Affairs Department will assist it to submit various applications for installment repayment or deferred repayment to the online loan platform to reduce the repayment pressure of borrowers.
Legal basis:
Article 674 of the Civil Code of People's Republic of China (PRC)
The borrower shall pay interest at the agreed time limit. If the time limit for paying interest is not stipulated or clearly stipulated, and cannot be determined according to the provisions of Article 510 of this Law, if the loan period is less than one year, it shall be paid together with the loan; If the loan term is more than one year, it shall be paid at the end of each year; if the remaining term is less than one year, it shall be paid together with the loan. Article 675 The borrower shall repay the loan within the agreed time limit. If the term of the loan is not agreed or clearly agreed, and cannot be determined according to the provisions of Article 510 of this Law, the borrower may return it at any time; The lender may urge the borrower to return it within a reasonable period of time.