1. What should I do if the bank loan is due and cannot be repaid?

After the bank loan expires, if you are unable to repay it, you can take the following measures:

1. Apply for deferred repayment:

If you have a good attitude, it means that you are only short-term. If you do not have the ability to repay, you can apply to the bank for a deferral of repayment.

2. Apply for installment repayment:

When the repayment amount is too large and the repayment ability is insufficient, you can apply for installment repayment, so that the debt can be repaid in multiple installments. Ease the repayment pressure of each period.

3. Borrow money from relatives and friends and repay it:

If the amount owed is not large, you can borrow money from relatives and friends first to repay the bank debt, and then return the borrowed money later. money.

4. Discount assets for repayment:

When you have jewelry, real estate, vehicles and other property in hand, you can discount these items and use them later. Repay bank debts.

2. What are the consequences if the bank loan is not renewed?

1. It affects the borrower’s personal credit. The borrower's personal credit is affected, which will directly affect the borrower's future loans.

2. If the borrower cannot repay on time, the bank will impose penalty interest penalties on the borrower, resulting in huge repayment pressure on the borrower.

3. When the loan is one month overdue, the bank will send a text message notification. If the payment is overdue for more than three months, the bank will call or visit you to collect payment.

4. If the borrower is overdue for more than six months, the bank will sue the borrower in court, and a court summons will be sent to the borrower’s home. On the day of court, the court will freeze the borrower regardless of whether the borrower is in court or not. The collateral for the loan was originally mortgaged to the bank and then auctioned. The proceeds from the auction of the collateral will be used to repay the loan.

3. What are the guarantor’s responsibilities if the loan is not repaid?

1. General guarantee responsibilities.

The liability paid is that when the debtor cannot pay off the debt when it is due, the guarantor must bear the responsibility for it, that is, pay off the debt when it is due.

2. Joint and several liability.

The obligation to pay is that when the debt reaches the repayment period, the creditor has the right to require the debtor or guarantor to repay the debt.

When the guarantee is a general guarantee, the guarantor has the right to sue first, that is, the guarantor has the right to reject the creditor's request for repayment before the creditor applies for enforcement against the debtor's property or fails to enforce the security interest. Joint guarantors have no such right.

Whether the bank’s credit card debt is overdue or the bank’s loan debt is overdue, the debtor needs to actively deal with and solve it, and cannot blindly evade debt repayment. In fact, after the overdue period, the debtor will not face the consequences. It's serious, but if the debtor evades the repayment of a loan debt or a credit card debt, the consequences the debtor faces are very serious.