What will happen if online loans have no money?
First of all, we must know that online loans or private loans without money are generally handled as civil disputes. As long as it does not involve loan fraud and has the ability to refuse to implement it, there is no need to worry about being treated as a criminal case. However, the lack of money for online loans will definitely have some consequences, as follows.
1. If the online loan is not repaid in time, a high penalty interest will be charged, with daily interest and monthly compound interest. The longer the arrears are delayed, the greater the interest will be until they are paid off.
2. There is no money to repay the online loan. Once the repayment date is overdue, you will call or SMS for collection. If the overdue time exceeds 3 months and the amount of arrears is relatively large, the loan platform will also ask for money through prosecution. Even if the lender does not attend, it will be sentenced to breach of contract and will be enforced.
3. If the online loan is for credit investigation, and the lender has no money and it is overdue, the personal credit will leave an overdue record. If it is enforced, it will leave a court enforcement record in the public record. It is impossible to handle any credit business before it is paid off, and it will take five years to restore personal credit records after it is paid off.
The above is the relevant introduction of "What will happen if online loans have no money?". . In short, online loans without money are generally civil disputes. Although he won't go to jail, he will still be collected, which will lead to high penalty interest and affect credit. Lenders must still borrow moderately within their ability, preferring to borrow less than to borrow more.