Will I be sued if my online credit loan is overdue?

Hello, first of all, if it is overdue, it will have an impact on your credit report depending on the length of time. If it is seriously overdue (more than 90 days), the credit report will be black, and you cannot apply for any loan business until it is paid off. Secondly, additional expenses such as liquidated damages and overdue interest will be incurred. It is nothing new that interest ends up being greater than principal in the long run. Please be cautious.

What are the consequences of loan money?

1. If you are truly unable to repay, you should negotiate with the lending institution to extend the repayment period or repay in installments.

2. After the lending institution files a lawsuit in court and wins the case, if it fails to fulfill the court judgment within the performance period, it will apply to the court for compulsory execution.

3. When accepting compulsory execution, the court will inquire about the properties, vehicles, securities, deposits, etc. in the name of the lender in accordance with the law.

4. If the lender refuses to fulfill the effective court judgment because it has no enforceable property in its name, negative information such as overdue repayment will be recorded in the personal credit report, restricting high consumption and entry and exit, and may even Resulting in judicial detention.