1. Accumulation of overdue interest and overdue fine: According to the loan contract, if the borrower fails to repay the loan within the time limit, it will generate overdue interest and overdue fine. The overdue interest is calculated according to the overdue amount and the number of days overdue, and the late payment fee is generally fixed or calculated according to a certain proportion of the overdue amount. The longer the overdue time, the more overdue interest and late fees.
2. Credit record damage: The borrower's failure to repay the loan on time will lead to credit record damage. When the borrower is overdue, the loan platform will submit the overdue records to individual credit reporting institutions, such as the Credit Reporting Center of the People's Bank of China. Overdue records will leave traces in the personal credit report, which will have a negative impact on the borrower's future credit evaluation and loan application.
3. Legal recovery and litigation risk: online lending is a contractual loan, and the borrower's failure to repay constitutes a breach of contract. When the borrower fails to repay the loan within the time limit, the loan platform has the right to recover the arrears through legal channels. The loan platform can recover the arrears through civil litigation and application execution. If the borrower is judged to repay, the repayment responsibility will be further aggravated. At the same time, borrowers need to pay attention to the fact that if the legality of the online lending platform is in doubt, they may face the situation of returning the principal and interest.
In short, not paying back online loans for two years will lead to the accumulation of overdue interest and late fees; The credit record is damaged, which has a negative impact on the borrower's credit evaluation and loan application; It may also face the risk of legal recovery and litigation. Therefore, the borrower is advised to repay the loan on time, keep a good credit record and avoid unnecessary economic and legal risks.
Extended data:
According to the contract law of our country, a loan contract refers to a contract in which both parties agree that the borrower will obtain a certain amount of loan from the lender and the borrower will repay the principal and pay interest within a certain period of time. According to the contract, the borrower shall fulfill the repayment obligation on time, and shall be liable for breach of contract if it fails to do so within the time limit. At the same time, according to the Civil Procedure Law of People's Republic of China (PRC), creditors can safeguard their legitimate rights and interests by means of prosecution and application for enforcement. The above answers are based on the laws and actual situation in China.