The installment repayment agreement is legally valid, but it needs to meet the following conditions:

1. Both parties must be persons with full capacity for civil conduct according to civil law.

2. The meaning of both parties must be true and consistent. If someone signs a repayment agreement through deception, coercion, fraud, etc., the agreement is revocable and may be invalid;

3. The contents of the agreement must comply with the law , and in line with public order and good customs, the content of the agreement must not violate the prohibitive provisions of the law. This is the prerequisite for the validity of the contract. If it violates legal provisions, even if both parties reach an agreement, there is no way to make it effective;

4. If the repayment agreement itself complies with the above three provisions, both parties need to sign or seal the agreement before it can become effective. . If there are agreed conditions for the agreement to take effect, both parties must not only sign or seal the agreement, but also need to meet the conditions for the agreement to be effective, in order for the agreement to be truly established.

Failure to repay installments on time will have the following consequences:

1. Penalty interest and liquidated damages. The amount of penalty interest is related to the overdue time. The longer the time, the higher the amount of penalty interest. In addition to penalty interest, you may also have to pay a considerable amount of liquidated damages;

2. There are stains on your credit record. In this credit society, credit records are networked across the country. Once there is a stain on the credit record, whether you want to get a loan to buy a house or a car, apply for a credit card, a credit loan, or other places where credit records are required, you are likely to be rejected by the borrower. ;

3. When the amount of debt owed is large, you may be sued to court and your house or other property may be auctioned to repay the debt.

Legal basis: Article 143 of the "People's Republic of China and Civil Code"

Civil legal acts that meet the following conditions are valid:

(1) The actor has the corresponding capacity for civil conduct;

(2) The expression of intention is true;

(3) It does not violate the mandatory provisions of laws and administrative regulations, and does not violate public order and good customs .