1. Unable to contact the borrower: In actual collection, if the collection company can't get in touch with the borrower, it can't make effective collection. At this point, the collection company can stop the collection and terminate the contract.
2. Debt has been discharged: some borrowers may voluntarily repay the loan or reach an agreement with the collection company, and the debt has been successfully discharged. In this case, the collection company will stop the collection.
3. Initiation of legal proceedings: If the borrower has made a decision of refusing to repay or unable to repay, the collection company can hand over the case to a lawyer instead of continuing to collect.
4. The overdue payment is too long: if the overdue payment is too long, some collection companies may give up the collection and cancel the account. Because the longer overdue, the more difficult it is to recover the debt.
5. The score of Internet Black Index is high: Some borrowers will have various credit record problems such as the score of Internet Black Index, which may bring great trouble to the debt collection company. If the borrower's online black index score is high, the collection company may give up debt collection, because this will cause great losses to the collection company.
To sum up, the above are the main reasons that may affect the collection company to stop collection. If you want to know whether the personal online loan data is accurate, you can inquire on the big data inquiry platform under the credit inquiry portal of 100 banks, and the inquiry is more accurate. The platform can intuitively display users' Internet blackness scores, which can give you a clear display.