I can t afford to repay the money I borrowed online

1. Encounter high penalty interest or liquidated damages.

Once the online loan is not repaid on time, the first thing you will face is high overdue fees, including penalty interest and liquidated damages. Generally speaking, when borrowing, these overdue fees will be marked on the contract, and many people may not care about it when they sign the contract.

Second, face all kinds of fancy collection.

Generally, on the first day of the loan overdue, the loan platform will start to collect it. First of all, it must be **SMS, **SMS This collection stage is relatively long, and it will be more violent. In the early stage, it may just be a ** SMS reminder, and if you don't repay the loan after being reminded, the collection platform will directly explode the address book, and even maliciously P pictures.

3. Affect personal credit.

Although many online loans are not on credit now, there will be online loan credit databases and online loan credit blacklists, and once a bad record is left in these credit systems, it is very difficult to borrow on other platforms. From Xiaomu data, you can clearly understand your online loan credit data and overdue information. The online loan data report found is from 98% of the country's online loan platforms, so the data is not only true, but also very complete, as long as you find this WeChat applet, you can query.

Fourth, being sued by the platform.

If the arrears are not repaid for a long time, some online lending platforms may also send a lawyer's letter to the debtor and file a civil lawsuit with the local court, and once the court accepts the lawsuit, the borrower's relevant property may be frozen. If the platform wins the lawsuit, the court will force the borrower to repay the loan principal, overdue penalty interest, liquidated damages and other expenses. If they refuse to do so, they may also be auctioned off by the court to repay the company's expenses.

The money for the online loan is not repaid, the consequences are quite serious, my colleague has such a person, she borrowed 6000 yuan, when she wanted to repay the money, they did not accept it, and when you repaid the money, it had rolled to tens of thousands, and finally he was not on, the creditor on the network gave him all the people in his address book, and harassed ** every day, it was terrible.

First of all, there will be a stain on personal credit. Nowadays, almost all formal loans are linked to personal credit information, and when applying for a loan, it is necessary to check the credit information, and the loan and repayment records will also be reflected in the credit report of the People's Bank of China. If there is a late repayment, it will have a negative impact on personal credit reporting.

Secondly, the online loan platform will charge overdue penalty interest, which is usually charged on a daily basis, and the penalty interest = overdue principal * daily interest rate * number of overdue days, and the specific charging standard is subject to the loan agreement.

Finally, the online loan platform may send payment reminders through **, SMS, etc.

Therefore, it is recommended that you do what you can when borrowing, make timely repayments, and maintain a good personal credit history.

If you have a lot of repayment pressure, you can choose to use big brand credit products that support installment repayment, such as Alipay Borrow, Tencent Micro Loan, and Du Xiaoman Finance. Money is the credit brand of Du Xiaoman Finance, which provides users with safe and convenient, unsecured and unsecured credit services.

Du Xiaoman Finance will effectively implement the call of the state to support small and micro enterprises to tide over the difficulties, and its credit service brand has the money to spend to fully support the production and operation of small and micro enterprises. It is reported that seventy percent of the credit users of Du Xiaoman Finance are small and micro business owners. Up to now, Du Xiaoman Finance has joined hands with dozens of financial partners to issue hundreds of billions of yuan in loans to small and micro business owners.

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.

Legal Analysis: The consequences of not repaying the loan are as follows:

1. Personal credit reporting is damaged, affecting the handling of various loans in the future. Clause.

2. Penalty interest and late fees will be incurred. Clause.

3. May be sued by the bank. If the payment obligation of the judgment is still not fulfilled after the judgment, the house will be auctioned, and if the auction price is not enough to pay the arrears, other property will be enforced. Clause.

Fourth, life is affected and travel is restricted. After entering the enforcement procedure, they may be included in the list of untrustworthy persons and restricted from spending.

Legal basis: "Criminal Law of the People's Republic of China" Article 313:Where a people's court's judgment or ruling is capable of being enforced but refuses to do so, and the circumstances are serious, a sentence of up to three years imprisonment, short-term detention, or a fine is to be given; where the circumstances are especially serious, the sentence is between three and seven years imprisonment and a concurrent fine.

Where a unit commits the crime in the preceding paragraph, the unit is to be fined, and the directly responsible managers and other directly responsible personnel are to be punished in accordance with the provisions of the preceding paragraph.

1. Collected by an online loan platform. The online loan is not overdue, starting from the next day after the repayment date, the borrower will receive a collection text message sent by the online loan platform every day, and there will be a staff member who will call ** to ask the borrower to repay. As the overdue time lengthens and the amount of arrears increases, the collection methods will rise to door-to-door and lawsuits, which will seriously affect the daily work and life of borrowers.

2. Overdue credit becomes worse. Once the credit investigation on the online loan is overdue, it will be reported to the credit information system, and the borrower's credit will deteriorate, and the longer the overdue time, the more serious it will be, and it will take 5 years to recover after paying off the arrears. Once the borrower is overdue for more than 3 months, he will become a typical credit black account, and he will not be able to handle any credit business for 2 years.

3. Pay overdue fees. There are generally two fees charged for overdue online loans, one is overdue penalty interest, which is mostly charged daily at times of the normal lending interest rate of online loans; Generally, it is a liquidated damages, which are charged at 3% of the outstanding principal. The longer the overdue time, the more overdue fees will have to be paid, and the more pressure the borrower will have to repay.

4. Restricted from borrowing. Most online loans can be revolving within the available limit, but each time you borrow, you will refer to the previous loan records, for example, if there is an overdue and serious situation, and the score is too low after the platform assessment, the online loan platform will refuse the borrower to borrow again.

5. Become a dishonest person. If the borrower is overdue for more than three months or more, and fails to repay after repeated collection by the online lending platform, the online lending platform will sue the borrower through legal channels, and the court may include the borrower who has the ability to refuse to repay the loan as a judgment defaulter, and the borrower will no longer be able to make high consumption, and the bank card and assets under his name will also be frozen for enforcement.

If it is not because of the black account caused by the overdue, then you have to find other reasons, such as whether the frequency of applying for online loans is too high, if you are not clear, you can check it quickly. As long as you understand what causes you to become a black account, you can improve the big data of online loans according to the reasons.

Extended Information: What is the impact of overdue online loans?

If the online loan is overdue, it will cause the following adverse effects:

1. Penalty interest will continue to be generated from the day of overdue until it is fully paid off. After all, the penalty interest rate charged by many loan platforms will rise compared with the normal borrowing interest rate, and the repayment pressure will be greater and greater.

2. The platform system will report the overdue situation to the big data (some loan platforms and their cooperative lending institutions have access to the central bank's credit information, and may also report to the central bank's credit information), thus leaving bad records in the big data (credit information), resulting in personal credit damage.

3. The platform is likely to implement risk control, reduce the loan amount of the account, or even directly freeze the amount, resulting in the temporary inability to borrow.

4. Due to the damage to credit, borrowing from other lending institutions will also inquire about credit, so subsequent borrowing on other lending institutions may also be hindered, and it is difficult to successfully borrow in a short period of time.

The consequences of not repaying the online loan can be great.

Some platforms will report on credit, which will affect your future loans.

If there is really no ability to repay, it shall negotiate with the lending institution to extend the repayment period or repay it in installments;

If the lending institution fails to perform the court judgment within the performance period after winning the lawsuit, it will apply to the court for enforcement;

When the court accepts the enforcement, it will inquire about the real estate, vehicles, ** and deposits in the name of the lender in accordance with the law;

If the lender has no property in his name that can be enforced and refuses to comply with the effective judgment of the court, negative information such as overdue repayment will be recorded in the individual's credit report, and he will be restricted from high consumption and entry and exit, and may even be subject to judicial detention.

It is recommended to repay the loan on time and maintain a good credit record.

The big companies will report the credit, and the small ones will not, and tell the people in your address book.

Legal analysis: Online loans will not face the consequences of bearing overdue fees, bearing the platform's fancy collection, facing a crisis of trust, generating personal credit stains, and being sued in court. In accordance with the provisions of national laws and regulations, if the borrower fails to return the loan within the agreed time limit, it shall pay overdue interest in accordance with the agreement or the relevant provisions of the state.

Legal basis: Article 676 of the Civil Code of the People's Republic of China.

If the 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.

1. Incompetence.

There is only one reason why such friends don't pay back - there is really no money to pay back at present.

Take netizen Lao He as an example, the reason why he chose an online loan is because he encountered financial difficulties. Previously, due to the shortage of funds due to the illness of his family, he had to borrow a large amount of online loans as a last resort.

Subsequently, due to financial problems, there is often a phenomenon of overdue. In addition, the borrowing cycle of online loans is short, and it is often that he has just finished repaying a loan, and another repayment date has come in a hurry, so he has to choose to overdue ......

So for this part of the borrowers, it's not that they don't want to repay, but they really can't afford to pay back. If the financial crunch can be alleviated, who wants to stay overdue?

2. Justified and well-founded.

Most of these friends have been tricked by illegal platforms.

Due to his low vigilance, he fell into the quagmire of various 714 anti-aircraft guns, routine loans and loans. In the end, not only will the property be damaged, but also face the nightmare of high interest and liquidated damages. And when they find out that they have been scammed, they will naturally not continue to pay back the money.

For these friends, I want to say that if you encounter a routine loan, etc., it is best to call the police to deal with it, and once the loan is characterized as a routine loan, it can not be repaid. But usury does not apply to this, and the legitimate principal and interest still have to be repaid.

3. Forced to be helpless.

This kind of friend has a characteristic, that is, they originally had a strong willingness to repay, but due to the platform's "death" behavior, they finally chose not to repay the money.

Netizen Amu is like this, a loan he borrowed was overdue for just two days, and his address book was exploded, and his personal life was greatly affected. He also changed his mind in an instant when he originally wanted to repay the loan: since the platform has done this to me, why should he continue to repay the money? I don't pay it back!

Such a mentality is still not advisable. The violent collection behavior of the platform is indeed illegal, we can complain and report, but don't be angry with the platform because of this, after all, you can only bear the consequences of overdue!

4. Broken can and broken type.

Some borrowers choose online loans simply to satisfy their spending desires or gambling and other vices. However, because he did not have enough repayment ability, most of the loans were repaid with the help of family and friends.

After losing the help of family and friends, trouble arises. As the repayment date approaches, they have no choice but to repay their previous debts by taking out loans, and eventually the debts become bigger and bigger until they are beyond their means.