If the online loan is overdue because of the epidemic, will you go to jail if you can t afford it?

1 Penalty interest and liquidated damages are incurred.

If the loan is not repaid, there will be a high penalty interest in the first place, and some financial institutions will also require users to pay a certain amount of liquidated damages.

The longer the time, the more penalty interest and liquidated damages will be incurred. These costs add up to a lot of money.

2 Encounters collections.

No matter which financial institutions are, they have their own collection systems and collection teams to recover the money that users have not repaid on time. Under normal circumstances, at the beginning, I will send a text message and call ** to collect.

If you can't get it, you may call a friend or relative. After that, it will affect and disrupt your work and life.

3 Sued.

If it is overdue for a few months, it will not be replaced. The financial institution will use methods such as sending a lawyer's letter, applying for arbitration, filing a lawsuit, etc.

If the arrears are not repaid, and the amount is relatively large, they will be sued. Once the court pronounces the judgment, the applicant must enforce the "repayment award", otherwise the financial institution can apply to freeze or auction the property to repay the arrears with the auction proceeds.

4 If the circumstances are serious, you will be imprisoned.

Generally speaking, borrowing money does not fall under the category of civil disputes and does not rise to the criminal level. However, if the borrower refuses to perform, the court will investigate the criminal liability of the borrower, and if the circumstances are serious, the borrower will be imprisoned.

If you are taking out a loan in a regular online loan, there may be relevant policies because of the epidemic, and it is far from the point of imprisonment.

But if it is really illegal online loans, they do not dare to call the police, because the illegal police are waiting to be caught, but it is you who is miserable, and the interest may be increased.

As long as it's not credit card debt, there's no such thing as jail time. Ordinary online loans are all civil debt liabilities, only bank credit card debts, which may be suspected of malicious overdraft and credit card fraud.

In addition, it is all civil liability, that is, the responsibility for repayment.

You can't stop repaying the loan because of the epidemic, you can turn around with your parents and classmates to repay the loan, and it won't be very troublesome to earn money and repay them.

Hello, the online loan is overdue due to the epidemic, and the state has regulations, and it will be resolved through negotiation, and you will not go to jail. Only those who maliciously defraud the loan will not be jailed for not repaying.

1. Because of the epidemic, you can apply for an extension of the online loan if you can't afford it.

2. In accordance with the provisions of the "Notice on Further Strengthening Financial Support for the Prevention and Control of the Novel Coronavirus Pneumonia Epidemic", financial institutions should give appropriate preference to credit policies for persons who are hospitalized** or quarantined due to the new type of pneumonia, those who need to be quarantined for observation due to epidemic prevention and control, those who participate in epidemic prevention and control, and those who have temporarily lost their income due to the epidemic, flexibly adjust the repayment arrangements for personal credit such as housing mortgages and credit cards, and reasonably postpone the repayment period.

Extended information: Is it possible to enter the credit investigation due to the failure to repay the loan in time due to the epidemic?

Notice on Further Strengthening Financial Support for the Prevention and Control of the Novel Coronavirus Pneumonia Epidemic clearly states that the submission of overdue credit records should be reasonably adjusted, and for those who are hospitalized** or quarantined due to the new type of pneumonia, those who need to be quarantined for observation and those participating in epidemic prevention and control, and those who participate in epidemic prevention and control, who fail to repay in a timely manner due to the impact of the epidemic, the relevant overdue loans may not be submitted as overdue records upon the determination of the access institution, and those that have already been submitted will be adjusted.

For individuals and enterprises that have temporarily lost their income** due to the impact of the epidemic, they can submit their credit records according to the adjusted repayment arrangement.

This means that if the above-mentioned persons are overdue due to inconvenience in repaying during the epidemic period, they will not be included in the credit reporting dishonesty record.

Legal analysis: It is possible to negotiate the repayment in installments or postponement. The "Notice on Strengthening Financial Services in the Banking and Insurance Industries to Cooperate in the Prevention and Control of the Pneumonia Epidemic Caused by the Novel Coronavirus" clearly states that for those who have temporarily lost their income** due to the impact of the epidemic, they should be appropriately inclined in credit policies, flexibly adjust the repayment arrangements for personal credit such as housing mortgages and credit cards, and reasonably postpone the repayment period.

In other words, if you are affected by the epidemic and have not received training for the time being, then you can repay your mortgage and credit card reasonably late.

The legal basis of the law is the Civil Code of the People's Republic of China

Article 673: If the borrower fails to use the loan in accordance with the agreed purpose of the loan, the lender may stop disbursing the loan, withdraw the loan in advance, or terminate the contract.

Article 674:The borrower shall pay interest within the agreed time limit. Where there is no agreement on the time limit for the payment of interest or the agreement is not clear, and it is still uncertain in accordance with the provisions of Article 510 of this Law, and the loan period is less than one year, it shall be paid together with the return of the loan;If the loan period is more than one year, it shall be paid at the end of each year, and if the remaining period is less than one year, it shall be paid together with the return of the loan. or in the middle of the object.

Article 676: Where a borrower fails to repay the loan within the agreed time limit, it shall pay overdue interest in accordance with the agreement or the relevant provisions of the State.

The processing is as follows:

You can negotiate with the other party to postpone the repayment, and you can write a loan to renew. Other property can be used as collateral to complete the repayment. The loan should be repaid as soon as it is due, otherwise the other party can sue it.

The creditor-debtor relationship formed between individuals is protected by law. If the debt cannot be repaid due due to the individual's own reasons, the other party may sue the people's court to demand the individual to repay.

Extended information: 1. How to defend the loan if the credit is not good?

1. Some people's bad credit is caused by overdue personal repayment, but some people are caused by ignorance of credit card regulations and arrears of annual fees.

2. Different banks or lending institutions have different tolerances for overdue, there can be no two times in the past three months, no three times in the past six months, and no four times in a year.

3. If there are too many overdue times, you must use your own credit score with superior information to apply for a loan, and it is also possible to have a higher score**, JD.com, Sesame Credit Score, Weibo, etc., and some lending institutions will use these as an important basis for review.

2. How to eliminate bad personal credit?

1. Repay the loan in time and form a new good record.

This method is suitable for carrying the liquid in the credit card overdue, the cardholder will pay off the arrears in time, and then maintain good repayment habits, so that the bad record will be covered by the good record, so as to form a new and good credit record.

Note: You can't cancel your card after you have a bad record!

2. Take the initiative to contact the bank.

As long as the bad record is not uploaded to the system, it is generally 90 days, and the cardholder takes the initiative to contact the card bank, explain the reason and take appropriate remedial measures, and the bank will usually help the customer to eliminate the bad credit record.

3. Wait for the bad demolition records to be automatically eliminated.

Among the methods of how to eliminate bad personal credit, this method of eliminating records takes the most time. The People's Bank of China generally only keeps an individual's credit record for five years. Therefore, as long as the cardholder does not have any adverse record within 5 years after the bad record is generated.

Then the People's Bank of China will also automatically remove the cardholder's bad record.

Legal analysis: It is possible to apply for a deferment of repayment, and all banking and insurance institutions should further increase their support for the epidemic area, reduce or exempt handling fees, simplify the process of business slippage, and open up fast channels. For those who have temporarily lost their income** due to the impact of the epidemic, it is necessary to give appropriate preference to credit policies, flexibly adjust the repayment arrangements for personal credit such as housing mortgages and credit cards, and reasonably postpone the repayment period.

Legal basis: Civil Code of the People's Republic of China

Article 667 A loan contract is a contract in which the borrower borrows money from the lender and returns the loan at maturity and pays interest.

Article 680:Usurious lending is prohibited, and the interest rate on loans must not violate the relevant provisions of the State. If there is no agreement on the payment of interest in the loan contract, it shall be deemed to have no interest. If the loan contract is not clear about the payment of interest, and the parties cannot reach a supplementary agreement, the interest shall be determined according to the transaction methods, trading habits, market interest rates and other factors of the parties or the parties; Where natural persons borrow money between themselves, it is deemed that there is no interest.

It is not illegal to overdue an online loan, but if it is not dealt with in a timely manner, you need to bear the following legal consequences:

1. Bear high overdue fees.

2. Bear the fancy collection of the platform.

3. Facing a national crisis of confidence.

4. Personal credit reporting is stained.

5. The defendant goes to court.

1. Can I apply for arbitration if my online loan is overdue?

You can apply for arbitration if the following conditions are met:

a) there is an arbitration agreement;

2) There is a specific claim for arbitration, as well as facts and reasons;

3) It is within the scope of acceptance by the Arbitration Commission.

2. Is it illegal to refuse to execute a judgment after an online loan is overdue?

It is an illegal act to refuse to execute a judgment after an online loan is overdue, and criminal liability is required if one of the following circumstances exists:

1) Refusal to report or falsely report the circumstances of assets, violation of the people's court's orders restricting high spending and related spending, and refusing to enforce it even after employing compulsory measures such as fines or detention;

2) Fabricating or destroying important evidence related to the person subject to enforcement's ability to perform, using violence, threats, or bribery to prevent others from testifying, or instigating, bribing, or coercing others to give false testimony, obstructing the people's court from ascertaining the circumstances of the person subject to enforcement's assets, making it impossible to enforce the judgment;

3) Refusal to hand over property or tickets specified in legal documents, or refusal to move out of the house or land, making it impossible to enforce the judgment;

4) Collusion with others to obstruct enforcement through methods such as sham litigation, sham arbitration, or sham settlement, making it impossible to enforce a judgment;

5) Using violence or threats to obstruct enforcement personnel from entering the enforcement site, or assembling crowds to make noise or storm the enforcement site, making enforcement work impossible;

6) Insulting, besieging, seizing, or beating enforcement personnel, making it impossible to carry out enforcement work;

7) Destroying or snatching enforcement case materials, enforcement vehicles and other enforcement equipment, enforcement personnel's clothing, and enforcement documents, making enforcement work impossible;

8) Refusal to enforce a court judgment, causing the creditor to suffer major losses.