What happens if I borrow money online?

First of all, if it is overdue, depending on the length of time, it will have an impact on your credit information. If it is seriously overdue (more than 90 days), the credit investigation is a black account, and you cannot apply for any loan business before it is paid off. Secondly, there will be additional expenses such as liquidated damages and overdue interest. Long-term overdue is nothing new, and the final interest is greater than the principal. Please be careful.

Strong system support, due to? All online lending must take place on the network platform, and banks must establish a strong credit system to support it. This system must be able to accept loan applications, comprehensively analyze customers and finally issue loans.

Due to the huge daily transaction volume of C2C platform, the manpower, material resources and financial resources spent by this powerful system are unbearable for any commercial bank. Therefore, relevant government departments and trade associations must coordinate and communicate, so that every commercial bank can participate. With the expansion of such loans, the final loan cost will have a great cost advantage over conventional loans.