Do you want to get credit in installments? What happens if it s overdue?

Installment consumption is a common way of spending, and many people will choose to pay for some more expensive goods or services by paying in installments. In the process of installment consumption, credit investigation and overdue issues are generally involved.

First of all, installment consumption generally has an impact on an individual's credit history, which also means that there will be a credit report. Credit reporting refers to the recording of an individual's credit information in the database of the credit reporting agency, including the individual's credit score, loan record, overdue status, etc. When you choose to spend in installments, you are often required to provide personal information and conduct a credit assessment, which will be reported to the credit bureau and become part of your credit history.

Secondly, if you choose to spend in installments and fail to repay on time by the agreed repayment date, you will be overdue. Overdue can have a negative impact on an individual's credit history and can lead to a drop in credit scores, which in turn can affect future loans, credit card applications, and more. In addition, late payments may result in additional penalties and late fees, increasing your repayment burden.

Therefore, it is recommended that when choosing to spend in installments, you should make reasonable planning according to your own repayment ability and financial situation to ensure that you can repay the loan on time. If you do encounter difficulties in repayment, it is recommended to contact the installment service provider in time to explain the situation and seek solutions to avoid the adverse consequences of overdue.

In short, installment consumption will be credited, and late repayment may have a negative impact on personal credit history. Therefore, when making installment purchases, choose carefully and make sure that you can repay them on time to maintain your credit history and credit rating.

If you are unclear about your debts and online loan data, you can get an online loan big data report from Beijian Quick Check, which has detailed data on online loan application records, overdue details, blacklists and other information.

As an installment product, many people will take it as one of their choices when handling the installment business, and it is still very convenient to installment of installment, but sometimes when people repay the loan, there will always be overdue, and some people are worried about whether it will have an impact. What happens if it's overdue?

I'm here to answer for you today.

Do you want to get credit in installments?

If you come to the installment overdue, your overdue record will be reported to the People's Bank of China credit system, then your personal credit report will leave an overdue record, at least 5 years to be eliminated.

What happens if the installment is overdue?

1. Affect Sesame Credit Score.

In addition to the credit investigation at the installment overdue, because of the cooperation with Alipay, the overdue installment will also affect your sesame credit score, and the sesame credit score will be reduced at that time, which will also cause a bad impact.

2. Loans and card applications are hindered.

If your installment is overdue and you don't repay it, then you are likely to be blacklisted, and not only will you not be able to get a loan, but your card application will also be hindered.

3. Pay overdue fees.

If your installment is overdue, you will need to pay various overdue fees, such as penalty interest, liquidated damages, etc.

4. Bear legal responsibility.

If the circumstances of the overdue period are very serious, then it is very likely that you will be sued, and you will have to bear legal responsibility at that time.

Coming to installment is going to be credited, so when you use it to installment, you must pay attention to repaying on time, don't cause overdue, otherwise it will have a very bad impact on your personal credit, and you will face the collection of ** bombardment at that time, and you will be hindered in handling loans or something in the future.

The installment is not connected to the credit information system of the People's Bank of China, that is to say, it is not credit. However, when applying for a loan on the installment platform, the platform needs to look at the applicant's sesame credit score, and only if the sesame credit score is above 600, you will have the opportunity to apply for a loan. If the user has overdue behavior, it will be recorded by Sesame Credit.

Personal credit will affect all aspects of our lives, loans, credit cards, job hunting, etc. will be affected by personal credit, so more and more people are beginning to pay attention to their credit situation, to installment is a more popular installment platform for white-collar workers, the official said that you can apply for a loan only with your ID card, work permit, bank statement, etc., which makes many users more excited, but more worried about the impact on personal credit, in the installment loan will be credit?

Whether a platform will be on the credit information, mainly depends on whether the company has access to the People's Bank of China credit system, if there is access, then it will be on the credit information, if there is no access, the loan information will not be uploaded to the credit system. At present, the installment platform has not yet been connected to the credit information system of the People's Bank of China, so the installment platform is not on the credit report.

Although the installment platform is not on the credit report, it does not mean that the installment platform will not check the applicant's credit situation, and the sesame credit score of more than 600 is one of the necessary conditions for applying for a loan in installment, which shows that the platform still pays attention to the borrower's personal credit situation, after all, personal credit is an important basis for judging whether a person has integrity and whether he is willing to repay. If the borrower is overdue after applying for the loan in installments, the overdue behavior will be recorded by Sesame Credit, resulting in a decline in Sesame Credit score.

Hello answer, I'm happy to answer for you, to installment is not on the credit system to installment will definitely be on the credit, so in daily use must be timely repayment, to prevent the generation of bad credit records, once you "overdraw" personal credit, it will be difficult to apply for a loan in the future, even if it is successfully approved, the corresponding loan interest rate, loan amount will also be affected, to installment withdrawal: at present, the installment is for users who have more than 650 sesame points on Alipay and no bad credit, Not everyone can open it, and the withdrawal amount is not the same, you can click [Transfer to Alipay now] after the first application quota assessment is completed, or in the service window of the installment, there is a [withdrawal] column, and operate according to the prompts, although the financial pressure can be relieved by the installment, but you must pay attention to the following matters when applying:

1.When using it for installments, you must determine the amount and term, and do not exceed your repayment ability;

2.Calculate the cost of the loan and measure whether it is within your ability to repay;

3.Make full and timely repayments to avoid penalty interest.

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.