Loan overdue means that after the loan contract expires, the borrower fails to repay the loan principal and the loan amount to the bank that issued the loan as stipulated in the loan contract without going through the relevant extension or re-loan procedures. interest, thereby causing the loan to exceed the agreed period.

The difference between overdue

1 day overdue

If you apply for a credit card without time tolerance function, you must remember to repay it in time, if Otherwise, the bank will impose penalty interest penalties on you if you are overdue for one day, and will upload the overdue record to the personal credit system. It will be marked as "1" in the personal credit report (the explanation of the mark is attached), and you will receive a debt collection Text messages and collection calls. However, if the repayment is made in time, the repayment record for the next month will be marked as normal repayment: "N" (the explanation of the mark is attached).

If you have a credit card with a time tolerance function, don’t worry. If you are only 1 day overdue and you are not a "repeat offender", most banks will think that you have forgotten to repay the loan and will take a more tolerant approach. manner. Therefore, if you forget to repay your credit card and make up for it within the repayment grace days, the bank will still treat it as normal repayment. Once the repayment grace days are overdue, you will be charged all overdue interest fees (if the repayment grace days are 3, your repayment within 3 days will be regarded as normal repayment, and no interest will be incurred, but if you repay on the 4th day Repayment will be subject to interest charges from the bank statement date). Therefore, one thing to note is that before applying for a card, you need to understand the rights and interests of the credit card you apply for and whether it has the time tolerance function. The horoscope card, struggle card and zodiac card launched by ICBC in recent years are not only good-looking, but also can tolerate time and difference. You deserve to have them.

Grace time means that on the day when the credit card repayment is due, if the cardholder fails to repay on time, the bank will give the cardholder another grace period, usually 3 days;

Tolerance means that after the repayment is due, the cardholder fails to repay in full. If the unpaid amount is less than or equal to a certain amount stipulated by the bank, it should be regarded as full repayment, and this part of the unpaid amount will automatically be credited to the next period. bill. The grace balance due in the current period is generally 10 yuan.

Ps. Only some cards have the right of time-delayed financing. Please confirm with the bank lady before applying for the card~

Overdue for 91 days

If If you are overdue for 91 days or more in a row, your credit report will be marked as "4" (the explanation of the mark is attached). At this time, the bank will think that you are deliberately defaulting on repayment. This will not only be blacklisted by the bank and regarded as a malicious loan, but may also be blacklisted by the court as a dishonest person. Your work, life, travel, accommodation, financing, etc. are affected by various punitive measures, such as restrictions on entry and exit; restrictions on certain driving behaviors; freezing of driver's licenses, restrictions on annual driver's license inspections; and restrictions on high-consumption behaviors.

Explanation of symbols in personal credit reports

▲“/” means no account has been opened;

▲“*” means there is no repayment history this month and the repayment Data with a repayment cycle longer than one month are marked with this symbol, and the repayment frequency is irregular. Those with no repayment in the month are marked with *; those that do not need to repay in the month of account opening are also marked with this symbol.

▲“N” is normal (indicates that the borrower has repaid the monthly payment in full and on time);

▲“1” indicates that it is 1 to 30 days overdue;

▲"2" means 31 to 60 days overdue;

▲ "3" means 61 to 90 days overdue;

▲ "4" means 91 to 120 days overdue;

▲“5” means overdue for 121 to 150 days;

▲“6” means overdue for 151 to 180 days;

▲“7” means overdue for more than 180 days;

▲"D" guarantor repayment (indicates that the borrower's loan has been repaid by the guarantor, including the guarantor's on-time repayment and the guarantor's repayment of part of the loan);

< p>▲ "Z" is used to offset debts with assets (indicates that the borrower's loan has been repaid by using assets to offset debts, and only refers to the portion of debts being offset with assets);

▲ "C" is settled ( The borrower's loan has been fully repaid and the loan balance is 0, including normal settlement, early settlement, debt settlement with assets, and repayment by the guarantor, etc.);

▲"G "End (any other form of account termination except settlement).

Is a bad record lifelong?

Overdue credit cards will indeed affect the customer's credit record, but it will not have a lifelong impact on the customer and cannot be eliminated.

The "Credit Reporting Industry Management Regulations" stipulate that the credit reporting agency's retention period for personal bad information is 5 years from the date of termination of the bad behavior or event; if it exceeds 5 years, it shall be deleted. But if you think about carrying a credit black mark for five years and suffering from loan failures everywhere, the consequences are still very serious.

What is "Three in a row and six in a row"

Three in a row and six in a row is the collective name of "Three in a row" and "Liu in a row". Continuous three refers to three consecutive late repayment records, and cumulative six refers to a cumulative six late repayment records within one year. Therefore, "three in a row and six in a row" is a way of saying that a loan is overdue multiple times. There is an inclusive relationship between three times in a row and six times in total. The accumulation includes continuation. After the continuation, if the repayments are made on time, the accumulated number will not be reached.

Consequences of overdue

1

Credit damage, loan difficulties

Loan is a kind of relationship between the borrower and the bank In the lending relationship, once the loan is overdue, the bank's repayment record will display the corresponding loan overdue record. In the bank's credit reporting system, the lender's breach of trust will be recorded. Later, the lender wants to apply for a loan again or This becomes extremely difficult when it comes to situations like applying for a credit card where you need to tap into your personal credit.

2

Pay penalty interest and liquidated damages

No matter what, money owed to others must be repaid after all. Those who repay overdue will not only have to pay back the basic In addition to the loan, you will also have to pay additional penalty interest and liquidated damages due to overdue payments.

3

If you are sued by the bank, you still have to repay the remaining loan

If you have not paid for more than 3 months, it is very serious. The loan bank The overdue loan will be called in accordance with the law, and in accordance with the provisions of the loan contract and the guarantee contract (mortgage or pledge contract), the company will file a lawsuit with the court. The court will take measures such as property preservation, including freezing the deposits in all bank accounts of the lender and the loan guarantor. , Seize mortgaged and pledged properties, etc.

4

Inscribed on the list of dishonest persons subject to enforcement, travel restricted

When personal loans rise to the level of legal proceedings, the situation becomes very serious. If it is serious, you will not only face the risk of fines and breach of trust, but will also be included in the list of persons subject to breach of trust, and your work, life, travel, accommodation, financing and other aspects will be affected, such as restrictions on entry and exit; restrictions on certain driving behavior; freezing driving licenses, restricting annual driving license inspections; restricting high-consumption behaviors and other punitive measures. In this era, without credit, it is really difficult to move forward.

How to avoid overdue

1

Read the contract carefully

When we sign a contract, we must read it carefully. First of all First of all, you need to see the repayment date clearly, and be sure to remember the date of your repayment. Secondly, you must also read the fine information clearly and understand it properly. Only by knowing these things in your mind can you effectively avoid overdue payments. Make repayments on time.

2

Bind frequently used bank cards and activate automatic repayment

Most people forget to repay rather than being unable to repay, so you can choose Link your bank card and let the system automatically deduct the money. Prepare funds in advance and repay in advance, because sometimes there is a delay in repayment through third-party platforms. Many platforms cannot receive the account in real time. It usually takes several minutes or even hours to arrive, so try to avoid paying on the repayment date. If you pay on the same day, you should pay at least one day in advance. PS: Be sure to save enough funds before the repayment date~

3

Repay in installments, handle bill installments

If the cardholder encounters a shortage of funds, he cannot For timely repayment, you should make installments on the current bill before the repayment date, because most banks cannot make further installments on the repayment date. Although there is a handling fee for installment, it is much better than overdue payment, which will not only result in bad records but also penalty interest.

In short,

There are thousands of roads, but credit is the first;

Irregular repayment will lead to tears when you hit a wall.

Cherish your credit and avoid overdue fees