Generally speaking, Xiaomi loans overdue will be collected by the bank one month later, and the court will take property preservation measures, that is, freeze all bank accounts of the lender and guarantor and seal up the collateral. If Xiaomi loan sues Physiology, the court will enforce it, auction the collateral, and directly deduct the bank deposit, all of which include the loan principal and interest, overdue interest, penalty interest, legal fees, and liquidation fees for the disposal of collateral. Will be borne by the lender.
If the lender doesn't have any property in his name after being sued, there will be many bad credit records, and even he will be included in the list of untrustworthy people, which will limit high consumption, which will have an impact on all loan credit cards in the future and will be severely punished by judicial custody. Xiaomi loans overdue's consequences are still quite serious. After the bad credit report, people who want to borrow money to buy a house or a car for at least five years will be affected.
Repayment should be made as soon as possible to avoid legal liability. If it fails to pay back within the time limit or fails to pay back after two reminders, the parties concerned will be prosecuted. First of all, after repeated dunning, if the parties still do not repay, they will file a civil lawsuit with the court. After the people's court hears the case, if the parties still fail to repay the loan, they can transfer the case to the public security organ for investigation and formally establish it as a criminal case. After investigation, the public security organ will transfer the case to the procuratorate for public prosecution.
Suggestions for action:
If there is overdue, the first thing to do is to actively raise funds to repay the arrears. If you can't repay the debt within a period of time, you can contact the other party for consultation first, and the other party will ask the debtor to submit relevant supporting materials. If the debtor's relevant materials meet the requirements, it will help the debtor to postpone repayment.
Legal basis:
People's Republic of China (PRC) Civil Code
Article 667 A loan contract is a contract in which the borrower borrows money from the lender, repays the loan at maturity and pays interest.
Article 668 A loan contract shall be in written form, unless otherwise agreed between natural persons. The contents of a loan contract generally include terms such as loan type, currency, purpose, amount, interest rate, term and repayment method.