What will happen if Home Credit is overdue?

Failure to repay 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% to 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 the loan overdue for more than three months, 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 are not allowed to 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 the borrower for any expenses.

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. What will happen if you don’t pay back the money overdue at Home Credit?

Home Credit will be sued if it is overdue. If it is temporarily unable to repay, it can negotiate with the creditor to repay in installments or to postpone repayment. The law stipulates that if the borrower fails to repay the loan according to the agreed time limit, he must pay according to the agreement or relevant national regulations. A certain amount of overdue interest will be charged and corresponding liability for breach of contract will also need to be borne.

Extended information:

Customers who borrowed Home Credit and cannot repay the loan need to raise enough funds before the repayment date expires. For example, they can borrow money from relatives and friends to repay the loan. On the Internet, if you encounter some special circumstances that cause the loan to be repaid, you should also communicate with the platform in a timely manner and try to apply for an extension of loan repayment, and do not easily become overdue.

After Home Credit is overdue, the customer will bear the following overdue consequences:

1. The credit report will be harmed.

2. It will be collected by the platform.

3. Penalty interest will be incurred.

4. The loan amount will be reduced.

5. The loan limit will be frozen.

6. Affect other loan applications.

7. Impaired credit reporting will affect your career.

8. Will be blacklisted.

9. Those who maliciously exceed the deadline will be prosecuted.

10. Unable to enjoy preferential loan policies.

It can be seen that the impact of overdue loans on customers is very huge. In order to avoid overdue loans as much as possible, customers need to maintain a good loan and repayment record, take into account the economic situation before applying for a loan, and make sure that the loan is within the scope of personal income. Borrow sensibly during the period so as not to bring too much debt pressure to your future life. What are the consequences of Home Credit loans?

The consequences of overdue Home Credit loans are as follows:

1. Penalty interest:

Overdue Home Credit loans In the future, penalty interest will be charged. The interest rate of penalty interest is 30%-50% higher than the original interest rate of the loan. The borrower will have to repay more and more.

2. Producing a bad credit record:

Home Credit will report the borrower’s overdue record to the credit reporting system, resulting in the borrower having a bad credit record and having to handle other credit business in the future. affected.

3. Being sued:

If the loan is not repaid for more than 3 months overdue, Home Credit may also sue the borrower. What will happen if you owe money to Home Credit?

What will happen if you owe money to Home Credit?

1. Loan disputes are civil disputes and generally will not lead to imprisonment. If the other party sues you for overdue repayment, the court can enforce it and you will have to bear double interest on the debt.

2. If payment is overdue, a daily penalty rate of 150% of the overdue amount will be charged, and credit information must be reported in strict accordance with the requirements of the People's Bank of China and included in the credit report. Credit records cannot be revoked due to late payments.

3. If the debtor fails to comply with the court's judgment during the performance period, the creditor may apply to the court for enforcement after the lender files a lawsuit in the court.

4. When the court accepts execution, it shall investigate the real estate, deposits and securities in the name of the debtor in accordance with the law.

5. In addition, if the debtor does not have property to be enforced in his name and refuses to comply with the effective judgment of the court, negative information such as overdue repayment will be recorded in the personal credit report, and it will be restricted from making high debts. Consumption and entry and exit, and may even be detained by judicial authorities.

6. If you are able to repay but refuse to repay, you are suspected of refusing to execute the judgment or order.

7. Long-term arrears and malicious overdue payments will be included in the credit reporting system, which will affect the use of future loans and credit cards. The records will not be eliminated until five years later. During this period, you may also be bombarded with phone calls. Debt collection patterns that cause trouble for family and friends.

If the circumstances are serious, you may be imprisoned. What is certain is that if the debt is owed for five years, it will still be included in the credit reporting system, which will affect future loans or house purchases. If there is no repayment, this kind of borrowing first and then committing fraud has been suspected of loan fraud.

Extended information:

The consequences of breach of trust

1. The release of "Lao Lai's blockbuster" increases exposure

LED large screen Exposure, Internet exposure, public transportation media exposure, and even loop playback in movie theaters.

2. Customize Lao Lai’s exclusive ring tones

In order to jointly punish Lao Lai, the courts in Luoyang, Enshi, Wuhu and other courts have reached agreements with local communication operators to develop Lao Lai’s exclusive ring tones. When a caller is called on the mobile phone, the other party will hear a "special reminder", and the caller will be urged to fulfill the repayment obligation as soon as possible.

3. Inquire about assets across the entire network and freeze Alipay balance

The People’s Court has the right to inquire about your personal assets. Kunming Huangdao Court conducted an asset inquiry across the entire network for a dishonest person and found that There was an asset of more than 100,000 yuan in the real-name authenticated Alipay account. He immediately submitted a "Letter of Assistance in Freezing Financials" to the Alipay headquarters and received cooperation, successfully freezing the assets in Alipay.

4. WeChat Reward Announcement

The Guangzhou Intermediate People’s Court uses new media methods such as WeChat platform to release information about "old renegades", which will help further solve the "difficulty in execution". Last year, 38 execution reward announcements were issued, with the total amount involved reaching 247 million yuan. Recently, WeChat Moments advertisements have also begun to expose "Lao Lai", using big data to accurately deliver them, leaving Lao Lai nowhere to escape.

Peking University Legal Information Network--"Regulations on the Management of the Credit Reporting Industry"