What should I do if my online loan is overdue for three or four years?

If the online loan has been overdue for three years, if the overdue record is on the credit report, then the user should take the initiative to contact the online loan institution to negotiate the repayment time and repayment amount. If the overdue record is not on the credit report, then it will be on the Internet credit report, and it is okay for the user not to want to repay the money at this time. Although online credit will not affect bank loans and loans from financial institutions, it is also a kind of personal credit, and as long as there is an overdue record, it will always affect personal credit.

Therefore, if the online loan is overdue for three years, the user should also actively repay the loan, otherwise it will adversely affect personal credit.

Legal analysis: The loan should be repaid as soon as possible, otherwise the user's overdue record will be uploaded to the credit information system. If the borrower is overdue for a long time, he may even be sued by the online lender to the court.

If you are temporarily unable to repay: 1. Take the initiative to communicate with the platform, explain the situation and negotiate an extension; 2. If you encounter violent collection, you can complain and file a lawsuit with the judicial authority; 3. When encountering behaviors such as "harassing a third party" and "bursting the address book", complain directly to the "Ju Complaint", "Mutual Finance Association" and "China Banking Regulatory Commission"; 4. If you encounter door-to-door collection, call the police directly; 5. Clarify the actual interest rate of the platform, if the annualized interest rate exceeds 15%, you can negotiate the repayment of principal and 15% annualized interest.

Legal basis: Article 254 of the Civil Procedure Law of the People's Republic of China: Where the person subject to enforcement is still unable to repay the debts after the people's courts have adopted the enforcement measures provided for in articles 242, 243, and 244 of this Law, they shall continue to perform their obligations. If the creditor discovers that the person subject to enforcement has other property, it may request the people's court for enforcement at any time.

Article 255 of the Civil Procedure Law of the People's Republic of China: Where the person subject to enforcement does not perform the obligations set forth in the legal documents, the people's courts may employ or notify relevant units to assist in employing restrictions on leaving the country, recording and publishing information on non-performance of obligations in the credit reporting system, and other measures provided for by law.

If the online loan is overdue for several years and is not repaid, there is naturally something. Over the past few years, the accumulated penalty interest of the platform is estimated to be quite large, and compared with the time when it was just overdue, the arrears are naturally more, and the borrower's repayment pressure is naturally heavier. In the case of continuous overdue, the platform will also report big data (and some will also report credit information), leaving a bad record in it, resulting in serious damage to personal credit.

Some platforms will also outsource the collection business to a specialized collection company, and may come to collect at that time. Some people see that they have not responded to the collection all the time, and they may go to sue.

An online loan that is overdue for 3 years will have the following consequences:

1.Not only need to repay the original arrears, but also need to repay overdue liquidated damages and penalty interest;

2.For customers who fail to repay on time, the online loan platform will also use certain collection methods;

3.personal credit reporting is tainted;

4.may be taken to court.

Extended Resources: Operations Management.

1. Interim Measures.

On February 28, 2018, the Guangdong Finance Office issued the Notice on Implementing the Interim Measures for the Management of Business Activities of Online Lending Information Intermediaries on its official website, which came into effect on March 26, 2018 and is valid for three years.

2. Account supervision.

1. The main reason for the occurrence of runaways and fraud incidents on the P2P platform is that there is a lack of supervision of the intermediate fund account, and the P2P platform has the right to allocate the funds of the intermediate account.

2. The opening of the intermediary fund account is for transaction verification and posting, and its establishment is a necessary part of the P2P platform. However, the intermediate capital accounts of domestic online lending platforms are generally in a regulatory vacuum, and the right to allocate funds is still in the hands of the platform. If the time difference and terms are not strictly controlled, the moral hazard caused by the precipitation of intermediate account funds such as "running away with the money and diverting it for other purposes" is extremely great.

3. Therefore, by supervising the **, custody, settlement and attribution of the intermediate fund account, analyzing in detail the role of all parties actually involved in credit activities, and monitoring the intermediate fund account for "special account and special funds", it can avoid the possibility of P2P online lending platforms intervening in illegal fundraising or commercial fraud, and is also conducive to the relevant departments to carry out social financing statistics and monitoring and analysis.

4. Domestic P2P online lending platforms generally open intermediate fund accounts in banks and third-party payment platforms to realize intermediate transfer and settlement. The general attitude of fund custodians is to allow account opening, but do not promise supervision. The regulator may consider designating a custodian to exclusively manage the intermediary fund account, so that the platform itself can only view the account details, and cannot call funds at will.

In addition, it is also possible to set up a professional certification body to certify the security of funds independent of P2P platforms.

3. Policy supervision.

Since P2P online lending is still an emerging industry in China, the state has not yet supervised it. There is no doubt that the P2P online loan business is helpful to solve the capital problems of small and medium-sized enterprises, as a kind of private lending, although the loan cost is higher, but the fast arrival time of funds, the loan threshold is lower than that of banks are the reasons for enterprise choice, especially to solve the short-term temporary capital turnover is of great significance.

Legal analysis: If the online loan is overdue and not repaid, it is a civil dispute and will not be investigated for criminal liability and jailed. After the creditor files a lawsuit with the court and wins, if the debtor fails to perform the court judgment within the performance period, the creditor can apply to the court for enforcement.

In cases where there is capacity but refusal to enforce the judgment, it is suspected of the crime of refusing to enforce the judgment or ruling.

Legal basis: Article 111 of the Civil Procedure Law of the People's Republic of China.

Where litigation participants or other persons exhibit any of the following conduct, the people's courts may impose fines or detention on the basis of the severity of the circumstances; where a crime is constituted, criminal responsibility is pursued in accordance with law

1) Fabricating or destroying important evidence, obstructing the people's courts' trial of cases;

2) Using violence, threats, or bribery to prevent witnesses from testifying, or instigating, bribing, or coercing others to give false testimony;

3) Concealing, transferring, selling, or destroying property that has already been sealed or seized, or property that has been inventoried and ordered to be kept, or transferring property that has been frozen;

4) Insulting, slandering, framing, beating, or retaliating against judicial personnel, litigation participants, witnesses, translators, evaluators, inquest personnel, or persons assisting in enforcement;

(5) Obstructing judicial personnel from performing their duties by violence, threats or other means;

6) Refusal to perform on a judgment or ruling of a people's court that has already taken legal effect.

People's courts may fine or detain units that exhibit any of the conduct provided for in the preceding paragraph; where a crime is constituted, criminal responsibility is pursued in accordance with law

Article 255 of the Civil Procedure Law of the People's Republic of China.

Where the person subject to enforcement does not perform the obligations set forth in the legal documents, the people's courts may employ or notify relevant units to assist in restricting them from leaving the country, recording and publishing information on their non-performance of obligations in the credit reporting system, and other measures provided for by law.

Article 313 of the Criminal Law of the People's Republic of China.

Crime of refusing to enforce a judgment or ruling] Where there is a capacity to enforce a judgment or ruling of a people's court 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.

An online loan that is overdue for 3 years will have the following consequences:

1. Not only need to repay the original arrears, but also need to repay the overdue liquidated damages and penalty interest;

2. For customers who fail to repay on time, the online loan platform will also use certain collection methods;

3. Personal credit reporting is tainted;

4. May be taken to court.

Legal basisArticle 21 of the "Provisions on Several Issues Concerning the Application of Law in the Trial of Private Lending Cases" Where a borrower and a borrower form a lending relationship through an online lending platform, and the provider of the online lending platform only provides intermediary services, and the parties request that they bear the guarantee liability, the people's court will not support it.

Where the provider of an online lending platform explicitly indicates through web pages, advertisements, or other media or has other evidence to prove that it provided security for the loan, and the lender requests that the provider of the online lending platform bear the guarantee liability, the people's court shall support it.

Online loan overdue can start from the following aspects:

1. Pay off the arrears as soon as possible.

After the online loan is overdue, you must pay off the arrears as soon as possible, because the interest rate of many online loans is relatively high, and once overdue, you may incur high overdue fees. Moreover, some online loan products are on credit or cooperate with Sesame Credit, so overdue will affect personal credit. Therefore, after the overdue date, those who have the ability to repay should repay the loan as soon as possible to avoid affecting personal credit or incurring high penalty interest.

2. Find friends and family.

If you can't repay it after the deadline, you can choose to borrow money from friends and relatives to solve your urgent needs, after all, the cost of overdue online loans is higher than borrowing from friends.

3. Collect evidence.

If an online loan is overdue and is subject to illegal collection, or is intimidated, it is necessary to collect evidence and report it to the relevant departments if necessary.

As we all know, personal credit is equivalent to everyone's credit pass today, which records the past credit behavior of each of us, and these behaviors will affect our future economic activities. Especially because the online loan is overdue on the credit report, and the bad credit record is left on the credit report, whether it is a car loan or a housing loan in the future, or a credit card, it may be rejected.

Only need to go through: Xiaomu data. Users can query their own big data and credit status in the WeChat applet, and can obtain various index data, query their personal credit situation, blacklist situation, online loan application records, application platform type, online loan credit line estimate and other important data information.

In short, the consequences of overdue online loans on credit are more serious, so if the borrowed online loan is on the credit report, then you must repay the loan on time, don't easily overdue, otherwise if it is overdue on the credit report, there will be a credit stain, and it will take five years to be able to "launder" after paying off the arrears, and if you don't repay the loan, the credit stain will follow you for a lifetime.