Guizhou Province Rural Credit Cooperative's overdue payment will have the following effects:

1. Penalty interest will be incurred. Default interest is calculated based on compound interest, that is, the longer the overdue period, the higher the default interest the borrower has to pay. For people with weak repayment ability, the occurrence of default interest will increase their repayment pressure;

2. Personal credit will be affected. The longer the time, the larger the amount, and the greater the impact. As a result, it will be very difficult for borrowers to lend again in the future. The lending institution is likely to lose the right to approve the loan due to the borrower's bad credit;

3. The defendant goes to court. If the credit union still fails to repay the loan after repeated reminders, the credit union staff can take the borrower to court, and the court will decide to auction the borrower's assets for repayment. This can be implemented whether it is a mortgage or a line of credit.

1) As we all know, personal credit is equivalent to everyone’s letter of credit today. It records everyone's past credit behavior, which will affect our future economic activities. Especially if an online loan is overdue, it will leave a bad credit record in the credit report. In the future, whether you apply for a car loan, a mortgage or a credit card, you may be rejected. In short, the consequences of overdue credit reporting on rural credit cooperative loans are very serious. Therefore, if online loans are used for credit reporting, they must be repaid on time and cannot be easily overdue. Otherwise, if your credit report is late, it will leave a stain on your credit. After paying off the debt, it takes five years to "clean up" the debt. If they don't repay, the stain on your credit will stay with you for the rest of your life.

2) Overdue loans are also called "overdue loans" or "overdue loans." Refers to the portion of the loan that has not yet been repaid within the repayment period specified in the contract. From the overdue date, transfer it to the overdue loan account, and indicate the words "Overdue Loan" at the beginning of the loan account. In order to urge loan units to repay overdue loans as soon as possible, interest will be calculated on the overdue portion at 20%. According to national loan regulations, if the principal and interest cannot be repaid on time, it should be repaid with the retained basic depreciation funds, enterprise funds or profits, and no costs, taxes or profits should be occupied.

3) According to the relevant provisions of the Contract Law, if the borrower fails to repay the loan within the time limit stipulated in the loan contract, it shall be a breach of contract and shall bear liability for breach of contract. The liability for breach of contract includes returning the loan principal, paying interest within the loan period stipulated in the contract, and paying interest on the overdue portion of the loan.