1. Credit damage: Failure to repay the loan will damage your credit history. Banks and financial institutions will report this information to the credit information system and put you on the bad credit list. This will adversely affect your future credit application, house purchase and car purchase.
2. Overdue fees and interest: Failure to repay on time will lead to an increase in overdue fees and interest. Gitzo Finance will charge extra fees for overdue repayment according to the contract, and calculate interest according to the number of days overdue. This will increase your burden and make it more difficult for you to repay.
3. Recovery action: If you fail to repay or refuse to repay for a long time, Gitzo Finance may take legal measures to recover the arrears. They may ask you to repay the loan through court proceedings, and may even seize your property through enforcement.
In addition to the above consequences, you also need to know the influence of your credit status on future loan applications. If you have a lot of loans, I suggest you know your credit data. Searching for "Puxincha" can generate a big data report, which can reflect the real situation of online lending. Although it is different from bank loans, bank loans will also focus on big data credit reporting. If your credit is not good, it will affect many rights.
Note that the above information is for reference only, and the specific consequences may be different according to personal circumstances and contract stipulations. The best solution is to communicate with Gitzo Finance in time, understand their repayment arrangements and solve the repayment problem as reasonably as possible.