What are the consequences of recruiting joint finance?
If Zhaolian Finance fails to repay the loan, it will have the consequences of paying penalty interest, generating bad credit information and experiencing collection, and the circumstances are serious and even being sued by Zhaolian Finance. There will always be a bad credit record of non-repayment, which will affect future car loans and mortgages. There is really no need to repay as soon as possible.
1 Payment of default interest: default interest will be generated when the financial services are overdue, and the calculation method of default interest is different for different products. The general loan interest rate will rise by 50%, subject to the actual display on the loan interface.
2. Bad credit reporting: If Zhaolian Finance fails to repay in time, it will generate loans overdue records and upload them to the credit reporting system of the People's Bank of China, which will affect future mortgage, car loan and credit card applications.
3 collection experience: Zhaolian Finance has special post-loan managers who will collect loans on time. If the circumstances are serious, they will contact relatives and friends and work units, which will affect their normal life and work.
4 sued: if the overdue amount of the borrower is too high, it will be brought to court by Zhaolian Finance. After winning the case, the court will enforce it and freeze the real estate, vehicle securities and deposits under the lender's name to pay off the debts. If the borrower fails to perform the judgment, it will be included in the list of dishonesty.