Although the informal online lending platform may have some problems, such as high interest rates and illegal collection methods, it does not affect the borrower's repayment obligations. If the borrower fails to repay the loan, it may face the following consequences:
1. Credit record is damaged: overdue repayment will affect personal credit record and adversely affect the borrower's future credit loan and credit card application.
2. Legal risk: non-repayment may lead to the borrower being investigated for legal responsibility, including prosecution and enforcement.
3. Collection risk: informal online lending platforms may adopt illegal collection methods, which will bring harassment and intimidation to borrowers.
Therefore, whether it is a formal or informal online lending platform, borrowers should fulfill their repayment obligations and avoid unnecessary legal and credit risks.
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