If the boss who borrowed your ID card can't pay the debt, the lender will find the owner of the ID card to pay the debt. If loans overdue lasts for two or three days or a week, the lender will think that the borrower can remind you to repay the loan on time through SMS. However, in a certain period of time, lenders will take measures to demand payment from borrowers, and SMS harassment and telephone bombing are their usual means. If the actual borrower fails to repay the loan on time, the credit stain will be recorded in the name of the ID card owner. This credit stain will exist in the banking system for 3-7 years. As long as it is blacklisted, mortgages and car loans will be affected, and preferential loans will not be enjoyed.
If the loan is not paid off in time, the lender will directly sue the ID card holder. Often due to the lack of strong evidence, the owner of the ID card will often lose the case. After losing the case, the ID card holder must first bear the obligation to pay off the debt and default interest. If the circumstances are serious, the borrower's deposit shall be frozen, the property, vehicles and other related property shall be sealed up, and the judgment shall be executed according to law. Credit stain will affect a series of social conveniences such as going abroad, flying, high-speed rail and handling credit cards. In this era, we can't survive without credit, and the consequences of losing credit can be imagined.
Some lending institutions have high overdue interest rates and even liquidated damages, which increases the difficulty of your repayment and makes you overwhelmed. According to news reports, someone borrowed more than 6,000 yuan to buy a mobile phone in installments, and paid more than 800 yuan a month. The total amount of liquidated damages that are not paid back for two months exceeds 3000 yuan, which shows how high the proportion of liquidated damages is.