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As the saying goes, it is only natural to pay back debts, so after users borrow money, they must pay it back according to the contract. If overdue repayment occurs during the repayment process, the user needs to bear the following serious consequences of overdue repayment.

1, overdue penalty interest:

Baidu has money to spend from the first day of overdue, it will charge overdue liquidated damages. Generally, overdue liquidated damages will be charged on a daily basis, and the charging ratio is 65438+ 0.5 times the user loan interest rate.

Therefore, if the user Baidu has money, the longer the overdue repayment time, the higher the liquidated damages, and the greater the final repayment pressure.

2. Credit information:

At the meeting, Baidu had money to spend on credit investigation! If the user has overdue repayment in Baidu, the overdue record of the user will be reported to the credit information system, so that the credit stain will appear in our credit information report. If it is serious, the loan will not be available later, and even our own traffic will be affected.

3. Collection:

Since the user has overdue the repayment, Baidu naturally has to collect the repayment for the user if it has money to spend. Collection methods may include telephone collection, SMS collection, etc.

For those who are seriously overdue, contact the borrower directly if you have money to spend. Once the borrower's contact person is contacted, the relatives and friends of overdue users will know about the borrower's overdue repayment, which will also have a negative impact on their reputation and future contacts with others.

4. Unable to use Baidu financial loan products:

Once the overdue repayment has money to spend, users may never borrow money again. In addition, other financial products of Baidu may directly blacklist overdue users in the future.

5. Be sued:

We all signed a loan contract when we took out the loan. If we don't repay the loan on time, it's a breach of contract. If we have money to spend, we have the right to sue overdue users.

Once the user is sued, he may be forced to repay by the court, or sell his assets, and may also be blacklisted for dishonesty.