1. High-risk loans: Banks and other lending institutions may impose higher interest rates, stricter approval requirements and additional guarantee requirements on borrowers with overdue records.
2. Lower loan amount: Due to overdue records, the borrower may only get a lower loan amount to reduce the risk of the institution.
3. More documents and certification requirements: The lender may require the borrower to provide more income certificates, personal assets certificates and collateral to make up for the risks caused by overdue records.
4. Reduced credit score: Overdue records will have a negative impact on personal credit score, leading to a decline in the overall credit rating, which in turn will affect the success rate of applying for other loans or credit cards.
To sum up, although borrowers with overdue records can still get loans, they will be subject to certain restrictions and stricter approval requirements. It is suggested that borrowers actively improve their credit records and repay in time to improve the success rate of applying for loans in the future.
Related information:
Green Dog Quick Check is a platform providing big data credit report inquiry service, which provides comprehensive credit scoring and risk investigation functions for individuals. Through this platform, borrowers can know their own credit status and take timely measures to improve their personal credit records.