The first is to bear the high pressure collection of the platform.
After the borrower is seriously overdue, the loan platform will continue to call the borrower and his relatives and friends to force him to repay.
The second is to bear high overdue fees.
For overdue fees, different online lending platforms have different names and different charging standards. Whether it is called overdue penalty interest, overdue management fee or other various names, the charging standard is very high.
The third is to face the crisis of national trust.
Now online lending platforms have established a blacklist system, and blacklist platforms have begun to communicate with each other. Borrowing on one platform is overdue, and it is very difficult to borrow on other platforms.
Fourth, the credit information of China People's Bank is tainted.
At present, most online lending platforms have not been connected to PBOC's credit information system, but it has become an inevitable trend to connect to PBOC's credit information system. It was recorded in the credit information system of the People's Bank of China, resulting in a credit stain.
Fifth, the defendant will go to court.
If the loan is overdue for a long time or deliberately not repaid, it will be sued in court.
Legal basis: Article 104 of the Civil Code of People's Republic of China (PRC). If the property of an unincorporated organization is insufficient to pay off debts, its investors or founders shall bear unlimited liability. Where there are other provisions in the law, those provisions shall prevail.