1. Borrowed money shall be collected from the borrower, and it shall be returned by SMS, telephone, door-to-door collection, etc.
2. If the borrower fails to repay the loan after repeated collection, the platform will apply for prosecution and arbitration through the court, and if the circumstances are serious, it will apply to the court for enforcement. As far as I know, this year, the platform has successfully sued many users in loans overdue on the platform, and there are also many successful cases.
3. From the day you are overdue, the platform will charge a certain loans overdue fee according to the contract. The longer the overdue time, the higher the overdue fee.
I suggest you pay off the loan as soon as possible. The longer it is overdue, the more serious the consequences will be.