What happens if you don t repay in installments, and what will happen if you don t repay in installm

According to Article 108 of the General Principles of the Civil Law of the People's Republic of China, debts shall be repaid. If it is temporarily unable to repay, the debtor may repay it in installments with the consent of the creditor or the ruling of the people's court. and where they have the ability to repay and refuse to repay, the people's court is to make a judgment to compel repayment.

According to Article 84 of the General Principles of the Civil Law of the People's Republic of China, a debt is a specific relationship of rights and obligations between the parties in accordance with the provisions of the contract or the provisions of the law, and the person who enjoys the rights is the creditor and the person who bears the obligations is the debtor.

The creditor has the right to require the debtor to perform its obligations in accordance with the contract or in accordance with the provisions of the law.

Founded in Shenzhen in 2013, Installment is a leading Internet consumer financial service provider in China and one of the first council members of the Internet Finance Association of China.

After half a year, the bank will auction your assets!

1. What happens if I don't repay in installments?

1) Penalty interest and liquidated damages. If you don't repay the loan, then the first thing you will encounter is high interest and corresponding liquidated damages, if you don't want to get yourself into the loan quagmire, it is best to develop good repayment habits.

2) Credit will be damaged. Whether it is borrowed from the bank or the money from the online loan platform, if there is a phenomenon of overdue repayment, it will be much more difficult to apply for a credit card or loan in the future. Some people think that the overdue repayment of online loans has no impact on their credit reporting.

In fact, this idea is wrong, at this stage, there is a system of interconnection and encryption between the online loan platform and the central bank, and there will also be a shared "blacklist" system in the online loan platform, which can check your credit in minutes.

3) If the circumstances are serious, they will be imprisoned. Many people are very concerned about whether they will go to jail if they don't repay their online loans? Usually such incidents as non-repayment of borrowed money are civil disputes and do not rise to the level of criminal law.

However, if the borrower refuses to enforce the law or has the ability to repay the loan, and insists on being a cheater, then the court can pursue the criminal liability of the borrower, and the circumstances are too serious, and the sentence will be imprisoned.

After the loan is overdue for a long time or deliberately does not repay, and the amount exceeds 2,000, it can already constitute a crime of fraud, and there is a risk of being sued by the online loan platform in court. Once the court rules in favor of the online lending platform, the borrower will have to pay the litigation costs and huge fines of both parties in addition to the amount that needs to be repaid, and even face jail time.

where this crime is committed, the sentence is up to three years imprisonment, short-term detention or controlled release, and/or a fine;

where the amount is huge or there are other serious circumstances, a sentence of between 3 and 10 years imprisonment and a concurrent fine is to be given;

where the amount is especially huge or there are other especially serious circumstances, a sentence of 10 or more years imprisonment or indefinite imprisonment is to be given, and a concurrent fine or confiscation of property.

One thing you always know is that there is no free lunch at any time in the world, whether it is borrowing money from others or taking out online loans, there is no reason to borrow money and not pay it back. As for the question of what will happen if you don't repay in installments, if you don't repay the loan, there will be more and more interest, which can be said to be more and more delayed. If there is an impact on the credit record, you may not be able to see it at the moment, but you will be restricted from applying for credit cards and loans in the future.

。1.Once the repayment is not made after the repayment date, the corresponding overdue fees will be incurred, and the longer the overdue time, the more overdue fees will be.

2.Once the installment is overdue, it will cause damage to personal credit, and it is likely to leave a bad credit record in the credit report, and then apply for a card or loan, which is likely to be rejected. 3.

If Installment Le has not repaid the money, then after more than 90 days, Installment Le has the right to sue.

Installment is happy to not repay the consequences:

1.Late payment fees will be charged for overdue installment bills, and 1% of the bill amount will be charged as a late fee per day. Non-installment bills will be charged 2/1000 of the bill amount per day as a late fee.

2.After the deadline, you will receive the collection of installment music every day**, and if the amount is large, there will be door-to-door collection.

3.After the installment is overdue, there will be a bad record in the personal credit report, which will affect the loan application on other platforms in the future.

4.If the platform wins the lawsuit, the borrower will have to pay off all the arrears and pay the litigation costs, and if the circumstances are serious, he will also bear the corresponding legal responsibility.

I have been engaged in bank credit work for many years, if you want to apply for 1-20w capital turnover by yourself, which online platforms are more formal and easy to apply for by yourself? Generally speaking, (Du Xiaoman) has money to spend on a platform with a relatively high passing rate. The amount is the highest, the interest is low, I have a car loan to give me a line, and I recommend it to my colleague to have a direct credit line of 18w for real estate.

If there is a need for capital turnover, the degree is small and full - there is money to spend, and the big brands are reliable and have low interest rates. There is money to spend - full easy loan, the maximum amount of borrowing is 200,000, and the daily interest rate is as low as low. The fastest disbursement is 3 minutes. The specific amount depends on the individual assessment!

Reminder: Try to withdraw the full amount after the quota is issued, because risk control is dynamic. There are not many loans that can be released now, and it is recommended that you withdraw the full amount if you need it. After the first installment, early settlement and repayment are supported.

Many people don't have enough money to spend, you can try the following two platforms, which are also more formal licensed financial institutions! The audit is relatively less rigorous! 360 IOU is a financial subsidiary of 360 antivirus software, and installment music is owned by Lexin, both of which are large companies.

360 IOUs can borrow up to 200,000!

The borrower cannot fail to repay the loan in installments, and the borrower does not repay the loan in installments

1. The borrower will be blacklisted by the installment and cannot take out a loan in the installment;

2. The borrower will be collected in installments, and the borrower's address book contact will be called ** for collection, which will affect the life of the borrower and the borrower's contact;

3. The borrower will bear a high overdue fee for installment, and the longer the overdue time, the more expenses will be borne;

4. The borrower's credit will be stained, and the installment will be reported to the credit system.

5. Overdue credit reporting, affecting the normal credit behavior of individuals;

6. The overdue penalty interest is more than 50%, and the interest is rolling, which makes you more and more pressured to repay;

7. Collection, mainly based on ** collection, may harass your relatives and friends;

8. Court prosecution, serious cases may be imprisoned.

Consequences of being sued by a court.

In accordance with the provisions of the loan contract and the guarantee contract (mortgage or pledge contract), the lender will file a lawsuit with the court, and the court will take measures such as property preservation, including freezing the deposits in all bank accounts of you and the loan guarantor, and seizing the property you have pledged. After the judgment is handed down, the property (deducting deposits, auctioning off collateral, etc.) will be enforced in accordance with the law to pay off the bank's loan losses. These include:

Loan principal, loan interest, overdue interest and penalty interest, as well as all litigation costs arising therefrom, and related expenses incurred when disposing of the mortgage (pledge) for realization, etc.

Your credit will be affected, if the company is the borrower, your company will be recorded in the national bank credit consultation system, and the loan in the name of the individual will also be recorded as an overdue loan in the national personal credit consultation system. If the lender doesn't expunge the record for you, you may not be able to borrow money from all the banks in the future.

If you are not defaulting on the bank loan in bad faith, and you are able to pay the interest on the normal loan, it is recommended that you apply for a loan extension from the lender first, explaining your willingness to repay the loan, the fact that you cannot repay the loan for the time being, and the plan for future repayment.

The consequences of not repaying the installment will be as follows: 1. It will be collected by the installment company; 2. Overdue records will be uploaded to the credit information center; 3. If you still do not return it after the lawsuit, you will be applied for compulsory enforcement, and you may be included in the list of dishonest people, and high consumption will be restricted.

If you repay it when it expires, you will be charged a certain fee if you don't pay it back after being recalled, you will be punished by law and will be included in the list of dishonesty.

If you don't repay in installments, the interest will become more and more, and it will eventually affect our credit information, so it is recommended to repay on time.

Will there be any consequences if I don't repay the installment? If you are sincere, your own words will belong to the performance of that kind of thing-related energy, and I think it may have a great impact on your own words, and many things will not be able to be done in the future.

It's not going to happen, don't worry.

1. The borrower will be blacklisted by the installment and cannot take out a loan in the installment;

2. The borrower will be collected in installments, and the borrower's address book contact will be called ** for collection, which will affect the life of the borrower and the borrower's contact;

3. The borrower will bear a high overdue fee for installment, and the longer the overdue time, the more expenses will be borne;

4. The borrower's credit will be stained, and the installment will be reported to the credit system.

5. Overdue credit reporting, affecting the normal credit behavior of individuals;

6. The overdue penalty interest is more than 50%, and the interest is rolling, which makes you more and more pressured to repay;

7. Collection, mainly based on ** collection, may harass your relatives and friends;

8. Court prosecution, serious cases may be imprisoned.

Extended information: Installment Le is Lexin's quality installment shopping**, founded in October 2013, is the pioneer of China's installment shopping e-commerce model, and has always adhered to the brand concept of "happy to have a degree, happy to see better".

It has established cooperation with many well-known brands such as Apple, Huawei, OPPO, vivo, L'Oreal, Philips, etc., and has become the third largest Internet channel after JD.com and Tmall in terms of sales volume of many brands.

It has also introduced e-commerce platforms such as JD.com**, Xiaomi Youpin, and Koala Overseas Shopping to settle in, and exported its installment service capabilities to many high-quality external platforms such as Yang Wharf and Mafengwo. As of March 2020, the number of installment products has exceeded 2 million.

In October 2013, the installment music was officially put into operation.

In March 2014, Installment reached a strategic cooperation with JD.com, the largest company in China.

In March 2014, Installment Le received a $10 million investment led by Matrix Partners China to complete Series A VC financing.

In April 2014, the marketing centers of Beijing, Wuhan, Chongqing and Nanchang were established.

In May 2014, the company served more than 100,000 customers.

In June 2014, the marketing centers of Shanghai, Xi'an and Nanjing were established.

In September 2014, Installment supported many colleges and universities in nearly 100 cities across the country.

In December 2014, Installment Le received a $100 million Series B financing led by DST and followed by Bertelsmann, Jingwei China, Huaxing Capital and Xianfeng Huaxing.

In March 2015, the installment was awarded the strategic investment of JD.com.

In October 2015, the sales volume of the installment month exceeded 2 billion.

In November 2015, he won the Deloitte China "Rising Star" award.

In November 2015, Installment was awarded the title of Forbes' 2015 China's Fastest Growing Technology Company.

In November 2015, Installment won the "2015 Internet Finance Growth Value Company" award from 21st Century Business Herald.

Mode of operation. Installment is the first to create an Internet small and micro consumer finance business model. At the front end of consumption, Installment has improved the user shopping experience through cooperation with JD.com; At the back-end of creditor's rights processing, Installment Le launched Orange Wealth Management in June 2014, and exclusively launched all creditor's rights in installment, forming a closed-loop ecology of "self-production and self-sale".

Refer to the following below:

The debts shall be repaid in accordance with the provisions of Article 108 of the General Principles of the Civil Law of the People's Republic of China. If the debtor is temporarily unable to repay, it may be repaid in installments with the consent of the creditor or the ruling of the people's court. Where they have the ability to repay but refuse to do so, the people's court is to make a judgment to compel repayment.

According to Article 84 of the General Principles of the Civil Law of the People's Republic of China, a debt is a special relationship of rights and obligations between the parties in accordance with the provisions of the contract or the provisions of the law. The person who has the right is the creditor, and the person who bears the obligation is the debtor.

The creditor has the right to require the debtor to perform its obligations in accordance with the provisions of the contract or the law.

FENTILE is a subsidiary of Shenzhen FEARLE Network Technology Co., Ltd., which was established in Shenzhen in 2013. FINNER is a leading provider of Internet consumer finance services in China and one of the first council members of the Internet Finance Association of China.

Notes:

On October 29, 2018, the first batch of malicious debt information of borrowers on online lending platforms was included in the credit information system of the central bank, and faced penalties for dishonesty, with a cumulative overdue amount of nearly 200 million yuan.

Include information on malicious debt evasion in the field of internet finance in the credit reporting system, and the means and measures to punish untrustworthy conduct, not only help urge borrowers to repay debts in a timely manner, but also help purify the internet financial environment.

Article 6 of the Opinions of the Supreme People's Court on the Trial of Loan Cases by the People's Courts stipulates that: "The interest rate of a private loan may be appropriately higher than that of a bank, and the interest rate may be determined by the local people's court according to the actual situation of the region, but shall not exceed four times the interest rate of a similar bank loan (including the interest rate mentioned in this paragraph)." Beyond this limit, interest on the excess amount will not be protected."

Article 23 of the Contract Law clearly stipulates that the intermediary may collect corresponding remuneration from the client in accordance with the law for providing intermediary services for concluding a loan contract. Therefore, the existence of loan servicers and the collection of service fees are in accordance with the law and are protected by law.