If it exceeds one year, the following results will occur:

1. Personal credit report will be affected

This is the most direct and adverse impact. Having a bad record on your credit report will inevitably affect your personal credit. It will be very difficult for you to get a loan to buy a car or a house in the future.

2. Lifting the authorization limit

When applying for a loan, you need to bind a personal bank card to facilitate the flow of funds. If it is because you are overdue, then the flash loan will Your authorization limit will be lifted. Once this is lifted, it will inevitably affect your credit limit.

3. Penalty interest due to overdue payment

Lightning loan version 7.0.3 is designed to solve temporary capital needs, so once you are overdue, its interest will be relatively high. Yes, it is 5/day, that is, if you borrow 10,000 yuan, the penalty interest will be 50 yuan for every overdue day. Isn’t it very high, so it is better not to overdue the loan. It is not cost-effective.

4. Impact on life

Usually, at the very beginning, there will be phone calls and text messages to remind you. If you still ignore it, a collection team will collect the money and treat you. impact on their lives and work.

What are the consequences of being overdue?

1. If there is a stain on your credit report, it will be impossible to apply for a bank mortgage or car loan in the future. Even a formal financial company will Being turned away means that if your credit report is bad, if you want to get loan financing in the future, banks or loan companies will basically ignore you.

2. Work may be affected. Nowadays, civil servants, enterprises and institutions and other relatively good work institutions will check personal credit reports. If there is a problem with your credit report, it will undoubtedly be affected to a certain extent. (It’s an ordinary job, it’s okay, no one is checking you)

3. You will be subject to crazy collections. If the debt is not repaid, the bank will entrust a collection company to collect it. In addition to using high In addition to bombarding you with frequent phone calls, they may also send staff to your door, etc., which will have a very bad impact on your life and work, as well as on your family and friends.

4. You may be sued. If the amount is too large, you may be sued by the bank. People on the Internet often say that it is okay. Here I tell you responsibly that it may be true that you are okay, and I believe that more than 99% of credit card debt cases will not be sued, but not suing you does not mean that the bank is not qualified to sue you. This possibility exists.