1. Credit records are damaged: overdue insurance claims will produce bad credit records, which will affect personal credit rating and credit records.
2. High interest and liquidated damages: After overdue repayment, the borrower needs to bear high interest, late fees and liquidated damages, which increases the repayment burden.
3. Collection action: After the borrower's overdue repayment, the online lending institution may take collection actions, including telephone calls, text messages and home visits. , will bring harassment and pressure to the borrower.
4. Legal proceedings: If the borrower refuses to perform the repayment obligation, the online lending institution may pursue the borrower's responsibility through legal means such as prosecution or application for enforcement.
Summary: The consequences of overdue insurance payment for online loans include damage to credit records, high interest and fines, collection actions and possible legal proceedings.