Non-repayment will have the following consequences:

1. Home Credit loans will not incur penalty interest, that is, liquidated damages, which are penalty interests caused by overdue loans. Generally, the loan will not be repaid in the original period. A penalty interest of 30-50% will be added to the loan interest rate.

2. For overdue items of more than 20 days, Home Credit will basically put the overdue items on the credit record at this time. All the lender can do is to repay the loan as quickly as possible and avoid overdue behavior again. Wait five years before the record is expunged.

3. For customers who fail to repay for more than three months, Home Credit Loan will be sued by the court in accordance with the loan contract. The court will take coercive measures to freeze the lender's deposits and enforce property liquidation and loan repayment. In serious cases, the organization may suffer losses and be subject to legal sanctions.

4. Customers who fail to repay Home Credit loans will no longer be able to enjoy preferential loan policies in the future. If a Home Credit loan is overdue for a long time, Home Credit will send someone to collect the loan, which will affect the individual's reputation and life.

Extended information

Collection methods when the loan is not repaid:

1. You can play the bank's card and charge debt interest from the defaulting customers

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Issue a valid written notice in advance, claiming that the bank is collecting the loan from the other party and stipulating a loan repayment period for the other party. If the other party fails to repay the bank loan within the time limit, the bank will punish the other party according to "what kind of" measures.

Therefore, the company requires customers with sales debts to repay the debt within a certain period, otherwise it will be forced to charge additional interest. In this way, it is easy for ordinary debtors to accept it, making them feel that the company has no choice but to do so. ?

2. Master the timing of making debt collection calls

Call the debtor when he or she is in the best mood, and they will be more likely to cooperate with you.

For example, it is best to start calling at 3:30 in the afternoon, because they are usually busier in the morning, and it is a good idea to leave the first half of the day for debtors to do business, so that they have enough time to get into normal working condition. In the afternoon, when they are more relaxed, they are generally in a better mood. At this time, it is easier to accept debt collection. In addition, you must avoid talking on the phone during meal times.

Baidu Encyclopedia-Loan Overdue