How long is the micro loan overdue on the credit investigation and how serious the consequences are

"WeLoan" is a pure online micro-credit revolving consumer loan product launched by WeBank, the first Internet bank in China, for WeChat users and mobile QQ users, which was launched on mobile QQ in May 2015 and WeChat in September 2015.

Ping An car owner loan] can get a loan if you have a car, up to 500,000.

Normally, overdue microloans will have the following consequences:

1.Recorded in the credit report: If the credit is overdue, it will affect the personal credit report, and form a certain resistance to the borrower's future loan application and credit card application.

2.High penalty interest: After the micro loan is overdue, in addition to the normal interest, it is necessary to pay a high amount of overdue interest, and a penalty interest of 50% of the agreed interest rate will be charged on the overdue principal amount every day until it is overdue.

Overdue penalty interest = overdue principal x daily interest rate x 50% x number of overdue days.

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This is provided by Kangbo Finance, which focuses on the interpretation of financial hot events, the popularization of financial knowledge, adheres to professionalism, pursues fun, makes financial content that people can understand, and conveys financial value in a vivid and diverse way. Hope this helps.

1. WeLoan is a WeBank product, you can refer to the credit investigation time of the bank, the bank generally reports the credit information once a month, so if there is an overdue record, it will take 1-2 months to see it on the credit report. However, if you click on the credit information to check the credit information of the credit limit, you can see it on the credit report the next day.

2. Consequences of overdue:

1. High penalty interest.

After the micro loan is overdue, in addition to the normal interest, it is necessary to pay a high amount of overdue interest, and a penalty interest of 50% of the agreed interest rate will be charged on the overdue principal amount every day until it is overdue.

Overdue penalty interest = overdue principal x daily interest rate x 50% x number of overdue days.

2. Recorded in the credit report.

The amount of micro loan will be recorded in the credit report, not to mention if it is overdue, and it is not negotiable to go directly to the credit report. A credit stain has been formed, and it will be troublesome to get a loan or a credit card in the future.

3. Encounter various collections.

Although micro loans will not be as violent as loan sharks, people also have their own set of collection methods, and it is inevitable to fight ** or something.

4. The court in which the lawsuit is filed.

If you just don't repay the amount, the amount reached and the overdue time is relatively long, WeLoan will sue you in court, and then you will be executed to repay the loan, not to mention the amount of money to be repaid, and leave the case back.

Extended information: As an Internet banking loan product launched by WeBank, "WeLoan" has the following characteristics:

1) Unsecured and unsecured;

Most of the personal loans provided by traditional financial institutions require the borrower to provide collateral and other guarantees, and it is difficult for individual users who cannot provide guarantees or do not have fixed assets in their names to obtain loans. "Micro Loan" does not require collateral and guarantee, and does not need to submit any paper materials, which can better meet the small financing needs of users with good credit.

2) 7*24 hours service, the fastest 1 minute to complete the loan;

Relying on strict risk control rules and a complete technical support system, "WeLoan" provides 7*24 hours online services, convenient and efficient procedures, all processes are completed on the mobile phone, and the loan can be received in 40 seconds at the earliest.

3) No handling fee for early repayment;

Most traditional financial institutions require users to repay on the day of repayment, and if users want to repay early, they need to apply and pay a handling fee. In addition to the regular default withholding repayment, "WeLoan" also allows users to settle the loan at any time without any additional handling fees.