Exceed the time limit
If the repayment is overdue, there will be high penalty interest and liquidated damages. Take the interest installment as an example. If the borrower fails to repay the loan within the time limit, the liquidated damages shall be charged at 1% (daily interest) of the total unpaid price. If the borrower is in arrears for 65,438+00 days, 30% of the total price is not paid as liquidated damages.
collect?money?
Although different online lending platforms have different collection methods. However, if the online loan is overdue in a large area, I am sorry that various collection methods will bomb your doubts about life. Even if you set the phone to mute, it is still difficult to avoid the call from the other party. And if these online lending platforms have cooperative outsourcing collection companies, it will be even more horrible. Your family, even your relatives, friends and even teachers will be harassed.
3. Lead to bad credit.
Although many online lending platforms claim not to check or read credit information, there is no guarantee that some small loan companies will establish a linkage mechanism with the central bank's credit information and report it to the central bank's credit information system once it is overdue. Moreover, many online lending platforms will still check personal credit reports before lending, and only when there is no serious overdue behavior in the credit record will they lend money.
Moreover, in addition to the central bank's credit information system, third-party credit information also has great influence. Like Sesame Credit and Koala Credit, if the overdue time exceeds 3 months, it will not only charge liquidated damages, but also enter the collection procedure. More importantly, the credit score will return to its original shape immediately, and it is completely impossible to apply again or obtain other privileges.
In summary, it is not too crazy to apply for online loans frequently. Once you exceed your repayment ability, the later impact will follow. In addition, it is not advisable to apply for online loan "robbing Peter to pay Paul". Because one overdue, it may cause a large overdue. Overdue penalty interest will have a great impact on personal credit information.