Expiration effect
1, personal credit is not good. As long as the borrower is overdue, personal credit will be damaged, and this record will be kept for 5 years. During this period, if you want to handle bank credit business, the examiner will focus on checking credit records. Loans overdue for too long will lead to bad debts, which can basically be regarded as a black household.
2. collect. Generally speaking, after loans overdue, banking institutions will immediately arrange for people to give notice, by telephone, text messages and other forms. Although there will be no violent collection, there will be some phone calls. If the bank defaults for a long time, it may outsource the debt to a third party company, which will affect the daily life of the borrower to some extent.
In addition to the above consequences, the borrower may be sued after the deadline. Although banks rarely use this method, if borrowers owe too much, it is not excluded that banks will also sue in court. So I suggest you pay back on time, and don't have the idea of breaking the contract, otherwise it will really bring you a lot of trouble.
If we go to court to sue, users will be blacklisted as "untrustworthy". If they are blacklisted, they can't fly, take the high-speed train, stay in star-rated hotels, be directors or board members of enterprises, even bring trouble to their families, and their children can't attend private schools. If the circumstances are serious, they shall be sentenced to fixed-term imprisonment.
Therefore, it is best not to owe money to the bank. The consequences are very serious. The loan should be repaid on time. If you do have difficulties, you can take the initiative to consult with the bank, and the bank will reduce some overdue interest according to the actual situation.