The first consequence of overdue online loans is penalty interest. The interest of online loan itself is several times higher than that of banks. If it is overdue, the penalty interest will be very high. Generally, the penalty interest is 50% of the interest, and a certain percentage of liquidated damages will be generated. If it is overdue for two years, the personal repayment burden will be very large.
The consequences of overdue online loans are second, and they are collections. In addition to facing high fees, it will also be charged by the loan platform. The means of platform collection generally include telephone message collection, address book explosion, malicious P-map, and even door-to-door collection. Frequent collection will not only affect your own life, but also affect the lives of others.
There are three consequences of overdue online loans, which affect credit reporting. Although many online loans have no credit, online loan records will remain in online loan big data. Now, whether banks or other financial platforms are reviewing, they may check the applicant's online loan big data. If it is found that the online loan big data is hacked, it is very likely to be rejected. You can get the online loan big data report from Xingyun Quick Check.
The consequences of overdue online loans are four, and they are sued by the platform. This is the last collection method of online lending platform. Even if you haven't found your repayment in two years, it doesn't mean you don't have to repay. If you have the ability to repay, refusing to repay many times may be considered as loan fraud. The most serious consequence is imprisonment. In addition to fully repaying the loan principal, interest, penalty interest and liquidated damages, there will be a fine.
As the saying goes, it is not difficult to borrow again if you borrow and pay back! No matter whether the online loan you borrowed is on credit, illegal or violent, you still have to pay back the loan principal. If you borrow usury, try to negotiate repayment with the other party. If the other party disagrees, don't return it for the time being. If borrowers are subjected to violent collection, they can collect evidence and take up legal weapons to safeguard their legitimate rights and interests.
I hope everyone can correctly understand the harm of online lending and don't borrow usury. If you are suffering from online loans, please stop using loans to support loans, confess to your family, or force yourself to go ashore, otherwise you will only get deeper and deeper.