What should I do if I can t repay the online business loan, and what should I do if I can t afford t

Legal Analysis: The failure of online business loans will not only affect personal credit, but also penalty interest. Users are advised to contact MYbank directly to see if they can negotiate an extension of the repayment period.

Or borrow money from friends and relatives around you, settle the money from the online business loan first, and then slowly repay the money of friends and relatives, so as to ensure that you repay the loan on time and do not affect your personal credit.

Legal basis: Interim Measures for the Administration of Personal Loans.

Article 38 The lender shall, in accordance with the provisions of laws and regulations and the provisions of the loan contract, investigate the borrower's liability for breach of contract if the borrower fails to provide true and complete materials as agreed in the contract and fails to use or pay the loan for the purpose agreed in the contract.

Article 39 With the consent of the lender, the term of the personal loan may be extended. For personal loans within one year (inclusive), the cumulative extension period shall not exceed the original loan term; For personal loans of more than one year, the cumulative extension period and the original loan term shall not exceed the maximum loan term specified in the loan type.

Article 40 The lender shall recover the principal and interest of the loan in accordance with the provisions of the loan contract. For loans that are not repaid as agreed in the loan contract, the lender shall take measures to collect or agree on restructuring.

If the e-commerce loan cannot be repaid and needs to be negotiated, the customer can log in to the MYbank APP, enter the ** customer service window, and contact the customer service for consultation; Or directly call MYbank's customer service **95188 ext. 3 and contact the customer service staff for negotiation.

When negotiating an application for deferred repayment, explain your current situation, explain the reasons why you are unable to repay, and provide corresponding evidence; At the same time, remember to express your willingness to repay actively. After the statement, it is left to MYbank to decide.

MYbank will assess the customer's credit and repayment ability based on the customer's current situation, and if it agrees, the customer can then discuss a new repayment plan with MYbank, and after the negotiation, the customer can repay the loan according to the new repayment plan. If MYbank does not agree, then the customer can only find another way, you can borrow money from relatives and friends, repay the loan first, and then repay the money to relatives and friends when you have enough funds on hand. And when you apply for a loan, it is best to consider your own economic conditions and repayment ability.

Otherwise, if you borrow too much, you won't be able to pay it back when the time comes.

The repayment of the online business loan can be solved in the following ways:

1. Credit card cash advance repayment: If the borrower has a credit card, he can use the cash advance of the credit card to repay the arrears of the online business loan, and then repay the credit card slowly;

2. Borrowing money to repay: The borrower can explain the situation to relatives and friends, borrow money from them to repay the online business loan first, and promise them a certain repayment period and repayment interest;

3. Sell property to repay the debt: If the borrower really can't repay the arrears, if necessary, he can sell part of the property to repay the arrears, such as cars, houses, etc.

The consequences of overdue online business loans are very serious, not only will they incur high interest expenses, but also affect personal credit, and they may even be sued by online merchant banks, so you must find a way to repay the money.

Extended information: 1: If the customer does not repay the online loan and is overdue, when the platform will give up the payment and no longer collect the payment, it mainly depends on the platform's own regulations.

When the platform itself collects the money for more than six months, but the customer has not repaid the loan, or even cannot be contacted, the platform may package the loan arrears to a special third-party collection company for collection.

If the arrears cannot be recovered for more than a year, the online lending platform may choose to give up the loan with a small amount of arrears; For loans with slightly larger amounts owed, the platform may continue to collect payments.

Of course, even if the platform gives up collection, the overdue information in big data or credit information will be retained and will not be eliminated because the arrears have not been repaid. Therefore, it will seriously affect the customer's credit, and it will also make it difficult for the customer to get a loan in the future, so the customer should still find a way to pay off the arrears as soon as possible.

2: If you owe dozens of online loans, if the online loan is overdue, you will be credited, then, you must repay the loan on time, even if you have no ability to repay, you must find a way, such as borrowing money from relatives and friends, contacting the lender to negotiate a new repayment plan, etc.; If the online loan is not creditworthy, and is suspected of usury or routine loans, and can withstand the harassment of violent collection, you can choose to be forced to go ashore.

Operating environment: mobile phone model: Huawei Mate40 mobile phone version.

The way to repay the online business loan:

1. First try to negotiate repayment.

Borrowers can take the initiative to find online merchant loan customer service and try to apply for negotiated repayment to see if they can extend the repayment period and reduce the monthly repayment amount, or apply to repay the interest first and then the principal, so as to reduce the current repayment pressure and reduce the negative impact of overdue credit investigation.

2. Withdraw and repay.

If the borrower has a credit card, he or she can use the credit card to advance cash to repay the outstanding amount of the online merchant loan, and then repay the credit card slowly.

3. Borrow money from relatives and friends to pay it back.

The most common method is naturally to find friends and relatives to help you tide over the difficulties, and you can still borrow a part of it more or less, so that you can win a certain amount of time to repay, maybe the business situation will improve, and the funds will be turned around in a few months.

4. Sell property for repayment.

In exchange for a certain amount of repayment funds, the premise is that the individual has these assets in his name, and he mortgages the repayment, which is better than being forced to repay by the court, and it is always necessary to repay, and there is no need to go to court.

Consequences: 1. Overdue records will be uploaded to the basic database of financial credit information of the Credit Information Center of the People's Bank of China, which will adversely affect credit.

2. Late repayment will be calculated at multiple of the normal interest rate and penalty interest will be charged; The first thing encountered is a high penalty interest, and some financial institutions need to pay a penalty on top of the penalty interest. These fees add up to a lot of money, so develop good repayment habits.

3. It will be collected and affect the follow-up loan.

4. 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.

5. 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.

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

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

<> if it is under the premise of taking the mountain with the same function of the stool service.