Failure to repay the money from Home Credit may have the following consequences:

1. Penalty interest. The first consequence you will face if you do not owe Home Credit is penalty interest. If you do not repay the money you owe Home Credit, the penalty interest will be increased by more than 30-50% based on the original interest rate of the Home Credit loan.

2. Affect personal credit report. In addition to penalty interest, bad information records caused by overdue loans will affect future loans. Moreover, overdue records will be reviewed for credit, and personal credit stains will be retained for 5 years.

3. Being collected. If the money owed to Home Credit is not repaid, Home Credit will collect the money, mainly by phone.

4. Facing prosecution. If the borrower fails to pay for more than three months overdue, Home Credit will sue the court in accordance with the loan contract. The court will take property preservation measures, freeze all bank accounts of the lender, and seize the mortgaged property.

Loan means that banks, credit unions and other institutions lend money to units or individuals who use the money, and generally stipulate interest and repayment dates.

Loans in a broad sense refer to the general term for lending funds such as loans, discounts, and overdrafts. Banks invest their concentrated currency and monetary funds through loans, which can meet the society's need for supplementary funds to expand reproduction and promote economic development. At the same time, banks can also obtain loan interest income and increase their own accumulation.

Recommendations for loan review: Carefully review each loan, and do not base loan risk judgments on past reviews or credit. The review cannot be relaxed or the investigation procedures reduced just because a borrower has paid principal and interest on time in the past.

Establish a regular appointment system for the borrower’s legal representative and its key management personnel. The appointment period can be determined based on the size of the loan amount, changes in the borrower's production and operations, etc. If the loan amount is large, the appointment period should be shortened accordingly.

Loan officers (loan officers, credit review team members, credit review committee members) and borrowers must not have improper personal contact during lending activities.

Loan officers and their immediate family members are not allowed to accept cash, valuable gifts, shopping vouchers, etc. from borrowers; they are not allowed to participate in entertainment activities paid for by the borrower; and they are not allowed to reimburse any expenses to the borrower.

For loans with large amounts and long periods, or loans used by borrowers for specific purposes, lawyers, accountants and other professionals should be hired to make professional judgments and provide expert opinions on relevant matters.