1. The online loan is overdue for three years, and the credit record is three years. This record will not be invalid. As long as the user does not settle the online loan, the overdue record will remain in the credit information, which has long been a stain on the credit information and will even be blacklisted by lending institutions.
2. It is normal for online loans to be overdue for three years, because there are laws in our country that clearly stipulate that prosecution and litigation must have a certain period of time before they can be prosecuted, and they must be prosecuted after three years. It is the platform's own right to sue the debtor during the litigation, but the court will not accept it after more than three years.
What happens when online loans are overdue:
1, telephone and door-to-door reminder
Generally speaking, if the final repayment date is more than three days, the lending institution still fails to wait until the repayment amount appears, and will call the borrower for information. Of course, borrowers can also take this opportunity to tell the truth and play a sympathy card for the grace period of repayment.
2. Bring a lawsuit to the court
If the collection fails, the lending institution will take out legal weapons to safeguard its rights and interests. Under the way of mortgage loan, the court will advocate the auction of collateral, and the proceeds from the auction will be used to repay the remaining principal and interest, attorney fees, legal fees and other expenses in priority. If there is any surplus, it will be returned to the borrower in full. This is an easy process, but it may not be easy to do. It will take at least three months to cash in the assets. During this period, the borrower can raise funds to win the battle for assets, and use the funds to withdraw the lawsuit from the lending institution. With the convergence of credit loans, borrowers still cannot escape legal sanctions and need to repay loans with assets in their own names.
3. Personal credit is damaged.
Once a borrower has a loan transaction with a bank, all repayment behaviors will be recorded by the central bank's credit information system and truthfully reflected in the credit information report. Today, when the credit report is relatively perfect, it will clearly show the number of overdue repayment days of the borrower. If the repayment is made after 90 days, the borrower will be "banned" by all banks within two years, whether applying for bank loans or credit cards. In terms of borrowing money on the online lending platform, because it is not as strict as bank loans and not as nervous as usury, many speculators think that it doesn't matter much whether they borrow money online or pay back overdue, which is a big mistake. Everyone must be cautious when applying for a loan. Before making a loan, we should make a reasonable repayment plan according to our actual situation to avoid many problems caused by loan default.