1, penalty interest and liquidated damages. If the loan is not repaid, the first thing you encounter is a high penalty interest. Some financial institutions need you to pay liquidated damages on the basis of penalty interest. These expenses add up to a lot of money.

2. Credit damage. If you borrow money from the bank and fail to pay it back within the time limit, your personal credit report will be stained, and it will be more difficult to apply for credit cards and loans in the future. Even small loan companies are not included in the credit report, and there is a "blacklist" system in the circle. If a company does not pay back, it will be difficult to approve other loans.

3. Collect in various ways. Banks and small loan companies have their own collection systems. Novices will send you text messages and call you to collect money. In serious cases, there will even be a collection staff pressing you around the clock, which will seriously disrupt your work and life.

If sued, the assets may be confiscated. Financial institutions will also arm themselves with laws. If you don't pay the arrears, you will be prosecuted if the amount is relatively large. Once the court makes a verdict, even if you are reluctant, you must execute the "repayment ruling". Otherwise, the court will seal up the property under your name according to law and repay the arrears with the proceeds from the auction.

If the circumstances are serious, you will go to jail. Generally speaking, such incidents as non-repayment of loans are civil disputes and will not rise to the criminal level. However, if the borrower refuses to implement it, it will be considered as a deadbeat and would rather run away than pay back the money. If the circumstances are very bad, the court will also investigate the criminal responsibility of the borrower, and if it is too serious, it will go to jail.

Extended data:

Do small loan companies apply for credit reporting?

If the small loan company has a cooperative relationship with the People's Bank of China, and the small loan company has a relevant financial license, then the loan application in the small loan company is successful, and the loan record is the credit information at the meeting. However, some private small loan companies usually do not cooperate with the central bank and are private companies. There is no financial license at this time. When such small loan companies apply for loans, there will be no credit history.

When users apply for loans, they must pay attention to choosing formal loans, which are more secure and easier for users to safeguard their legitimate rights and interests.

What should I do if I owe the loan company 500 thousand

If it is really unable to repay, it shall negotiate with banks or lending institutions to extend the repayment period or repay it in installments. What happens if you don't borrow money?

1. If the lending institution or bank fails to perform the judgment within the performance period after winning the case, it will apply for enforcement.

2. When compulsory execution is accepted, the lender's property, vehicles, securities and deposits will be inquired according to law.

3. If the lender has no property to enforce, refuses to perform the effective judgment, overdue repayment and other negative information will be recorded in the personal credit report, and will be restricted from high consumption and entry and exit, and may even be punished by judicial custody.

4. Refusing to execute a judgment or ruling is suspected of refusing to execute a judgment or ruling.

I owe a lot of money to small loan companies, and I still can't pay them. Is it fraud? Will you go to jail?

In this case, it is not fraud, but if the other party sues through the court, you will go to jail if you have the ability to repay.

If you use false materials to defraud loans in the process of lending, you can be suspected of fraud. If private lending cannot be repaid, it is a civil dispute and does not involve criminal offences. You can ask for a judgment repayment through court prosecution.

According to the Criminal Code of People's Republic of China (PRC)

Article 313 Whoever refuses to execute the judgment or ruling of a people's court, if the circumstances are serious, shall be sentenced to fixed-term imprisonment of not more than three years, criminal detention or a fine.

Extended data:

The crime of defrauding loans refers to the act of fabricating false reasons such as introducing funds and projects for the purpose of illegal possession, using false economic contracts, certificates or false property rights certificates as guarantees, and concealing the truth with other fictional facts to defraud banks or other financial institutions, resulting in a large amount of loans.

According to the provisions of the Criminal Law, whoever defrauds a large amount of loans shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and shall be fined not less than 20,000 yuan but not more than 200,000 yuan; If the amount is huge or there are other serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than five years but not more than ten years, and shall also be fined not less than 50,000 yuan but not more than 500,000 yuan;

If the amount is especially huge or there are other especially serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than 10 years or life imprisonment, and shall also be fined not less than 50,000 yuan but not more than 500,000 yuan or confiscated property.

Looking for a loan from a microfinance company, what will happen if the debt is overdue?

Looking for a loan from a microfinance company, what will happen if the debt is overdue?

Under normal circumstances, people will go to court to sue. If they continue to ignore it, the court will announce the service and then make a default judgment. At this time, if you still ignore it, you will go in and execute the procedure, and you will be included in the list of untrustworthy people. According to the current trend, the restrictions on untrustworthy people are getting stricter and stricter. Will you go to the bank for loans or engage in high consumption? The court will freeze all bank cards in your name, even Alipay and WeChat accounts. In short, all asset accounts in your name will be frozen! You will not be able to engage in any financial activities in your name. So the strength is still quite large.

What about loans overdue, the microfinance company?

If the borrower fails to repay the loan principal and interest on a monthly basis as stipulated in the loan contract, the overdue interest shall be collected according to the relevant provisions of the People's Bank of China. Under any of the following circumstances, the lending bank has the right to deal with the collateral or pledge jointly with the relevant departments in addition to collecting overdue interest on the overdue part. (1) The borrower fails to pay off the loan principal and interest three months after the final repayment period of the loan contract. (2) The borrower fails to repay the loan principal and interest for six consecutive months during the repayment period.

What will happen if you owe a microfinance company more than 6000 yuan?

See if you can get credit information. If the credit investigation affects all your future loans, 6000 yuan is not much, but it is enough for the standard of prosecution. If you don't get credit information, someone may come to collect debts after a long time.

What will happen to the money of microfinance companies?

Don't worry, as long as you tell them, they are thinking about repayment, not malicious breach of contract, and don't want to pay back. You can communicate with them. You can. Take your time. You got it? They sent messages saying that they would sue you and so on, all to scare you.

The money owed to the credit company is a civil dispute and will not go to jail. But the credit company sued the court and ordered you to repay the arrears within a time limit. You have the ability to carry out the court's decision, but if you don't, you may face fines or detention. If the situation is serious, it can also constitute a crime of refusing to execute the judgment, leading to imprisonment.

Legal basis:

Article 313 of the Criminal Law Crime of refusing to execute a judgment or written order Whoever refuses to execute a judgment or written order, if the circumstances are serious, shall be sentenced to fixed-term imprisonment of not more than three years, criminal detention or fine. !

What will happen to microfinance companies when they are overdue? Will it be dark?

1. If it is really unable to repay, it shall negotiate with the lending institution to extend the repayment period or repay by installments.

2. If the lending institution fails to perform the judgment of the court within the performance period after suing the court and winning the case, it will apply to the court for enforcement.

3. When accepting enforcement, the court will inquire about the real estate, vehicles, securities and deposits in the name of the lender according to law.

4. If the lender refuses to perform the effective judgment of the court because there is no enforceable property under his name, negative information such as overdue repayment will be recorded in the personal credit report, which will limit his high consumption and entry and exit, and may even lead to judicial custody.

What will happen to some microfinance companies?

What are the consequences of the loan money?

If it is really unable to repay, it shall negotiate with the lending institution to extend the repayment period or repay it in installments;

If the lending institution fails to perform the judgment of the court within the performance period after suing the court and winning the case, it will apply to the court for enforcement;

When the court accepts enforcement, it will inquire about the real estate, vehicles, securities and deposits under the name of the lender according to law;

If the lender has no executable property under his name, refuses to perform the effective judgment of the court, and the negative information such as overdue repayment will be recorded in the personal credit report, and will be restricted from high consumption and entry and exit, and may even be punished by judicial custody.

Basically, it won't affect, and you can repay on time in the future.

What if I borrowed 5,000 yuan from a small loan company to buy a mobile phone?

If the repayment is overdue, it will first affect your personal credit and your future life and work. And the longer the overdue time, the higher the overdue fee and the greater the burden.

I. Consequences of non-repayment

If the repayment is overdue, it will first affect your personal credit and your future life and work. And the longer the overdue time, the higher the overdue fee and the greater the burden.

If you are in loans overdue, a special collection staff will contact you. If you don't repay the loan, it will affect your family and friends.

Those who are seriously overdue will be prosecuted, so they still have to pay back the arrears in time.

2. Restrictions on untrustworthy personnel:

1. When taking transportation, choose the cabin above the second class of the plane, train soft berth and ship;

2. High consumption in hotels, hotels, nightclubs, golf courses and other places above the star level;

3. Purchase real estate or build, expand or decorate high-grade houses;

4. Rent high-grade office buildings, hotels, apartments and other places to work;

5. Purchase non-operating vehicles;

6. Travel and vacation;

7. Children attend private schools with high fees;

8. Pay high premiums to buy insurance wealth management products;

9. Other high consumption behaviors that are not necessary for life and work.

Microfinance company

You can go to Easy Loan to see which loan companies are available in Changchun, or if you decide to borrow, you can post your information on it. Companies that meet your requirements will contact you then. Easy Loan has loan information and loan companies all over the country. ......

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How long can a microfinance company sue if it is overdue?

I feel the company is different. It should depend on the contract. Can sue for breach of contract.