2. If the repayment period is up and you have no money to pay back, this is to negotiate with the borrower to see if it can be delayed for a while and give a written guarantee or text message. If you have money, you must return it to the other party.
3. Negotiate with the other party. If the amount is large, we can't pay it off at one time, so we have to communicate with each other. Both sides should put peace first. You can pay off the debts in installments to prevent the other party from suing yourself in court, so as not to cause some unnecessary troubles to your life.
What are the consequences of owing money to online lending companies?
1, penalty interest and liquidated damages.
If the loan is not repaid, the first thing you encounter is a high penalty interest. On the basis of penalty interest, some financial institutions also need you to pay liquidated damages. These expenses add up, but they are not a small expense. If you don't want to get into the mire of loans, you must develop good repayment habits.
2. Credit damage
If you borrow money from the online lending platform and fail to pay it back within the time limit, your credit report will be tainted, and it will be even more difficult to apply for credit cards and loans in the future. Because of petty profits, it is not worth the loss to miss your credit wealth. Some people say that the loan I took from the online loan will not be included in the central bank's credit information. Needless to say, online loans and central banks are now more interconnected. Even in the online lending circle, there is an exclusive "blacklist" system. If one family doesn't pay back, it will be difficult to approve other loans.
3. Collect in various ways.
Both banks and online loans have their own collection systems. Novices will text you and call you for money. In some serious cases, there will even be a collection staff pressing you around the clock, seriously disrupting your work and life. The average person can't stand this kind of "spiritual oppression".
4. Being sued, assets may be seized.
Maybe you have a strong "anti-pressure" ability and think that all the consequences mentioned above are Mao Mao rain, so financial institutions will not be polite to you, so they can only take out the secret weapon of "court" and arm themselves with the law. 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.