There will also be penalty interest, that is, overdue interest, that is, penalty interest caused by loans overdue. The general operation is to increase the penalty interest by 30%-50% on the basis of the original loan interest rate.

Once overdue, it will increase the repayment pressure of the repayment person. The longer the overdue time, the more repayment is needed. Secondly, for customers who are overdue for more than three months, the financial department will immediately prosecute the overdue customers according to the loan contract, and the court will take compulsory measures to freeze the lender's deposits and enforce property liquidation.

What will happen if the finance doesn't pay back immediately?

Failure to repay the loan immediately may have the following effects: \r\n 1. Suffering from high penalty interest: \ r \ After the loan is overdue immediately, the borrower will collect overdue penalty interest on a daily basis, and the interest rate is 30% to 50% of the original interest rate, which increases the repayment pressure. \r\n2, SMS or telephone collection: \ r \ nOnce the borrower's finance is overdue immediately, the official will collect it by SMS or telephone. Malicious failure to pay back the money will aggravate the collection and affect the normal life of the borrower. \r\n3. Credit stain: \ r \ The borrower's overdue records are uploaded to the People's Bank for credit investigation, and any overdue records will cause bad credit investigation, which will affect the borrower's application for loans and credit cards in the future. \r\n4。 Prosecuted by the platform: \ r \ nIf the borrower refuses to repay the loan after repeated collection, the finance will immediately sue the borrower to the court, and the court can take compulsory measures to require the borrower to repay the loan. \ r \ For more information about what will happen if you don't pay back the money immediately, please go to: See More.

What will happen if consumer finance is overdue?

Once consumer finance is overdue, the platform will run for customers to collect money. Of course, the platform generally does not collect money at home, but only contacts the lender by phone to urge the lender to repay as soon as possible. If the customer maliciously fails to repay the loan, the platform may also sue the lender.

If the customer fails to repay the loan of spot finance, it will bear the following overdue consequences:

1, credit will be hurt.

2. It will be collected by the platform.

3. There will be penalty interest.

4. The loan amount will be reduced.

5. The loan amount will be frozen.

6. Affect other loan applications.

7. Occupation is affected by credit information damage.

8. Will be blacklisted.

9. Malicious overdue will be prosecuted.

10, unable to enjoy preferential loan policy.

In order to avoid these situations as much as possible, customers should pay attention to maintaining their credit when using loans. Before applying for a loan, you can consider your own economic situation and make a reasonable loan within your personal income, so as not to bear too much debt pressure and lead to overdue.