2. Detailed description:
A. loans overdue will determine the default according to the terms in the specific loan contract. If the contract stipulates a clear overdue repayment time and compensation measures, the borrower may face the risk of being sued after this time.
B. If the loan contract does not stipulate the time for overdue prosecution, banks or financial institutions will usually take collection measures after the borrower has overdue repayment for a period of time. The specific overdue time varies according to bank policies, regional regulations and contract terms. Generally, if the small amount of loans overdue lasts for more than three to six months, the borrower may face an increased possibility of being sued.
C. Before formal prosecution, the borrowing institution will generally try to contact the borrower by telephone, text message, lawyer's letter, etc. And remind them to fulfill their repayment obligations.
3. Summary: How long loans overdue will be prosecuted mainly depends on the loan contract terms, banking policies, regional regulations and specific overdue conditions. Usually overdue for more than three months to six months, the borrower may face an increased risk of being sued.
4. Extended information:
In China, the legal procedures of small loans overdue can be different according to different regions and specific conditions. Borrowers should communicate with lending institutions in a timely manner to avoid overdue repayment, so as not to face legal disputes and bad credit records. If you encounter overdue problems, it is recommended to consult relevant professionals or legal institutions to obtain corresponding legal advice and solutions.