Yes, the validity period for lawsuits over overdue online loans is 3 years. After 3 years, the lending institution can continue to collect, but it cannot sue the user. However, this does not mean that online loans that are overdue for more than three years do not need to be repaid. As long as the user does not repay, the overdue record will be retained, so the user's personal credit will always be affected.

After a loan is overdue, there will be the following consequences:

1. Penalty interest and liquidated damages

After a loan is overdue, the first thing is to have Overdue penalty interest.

Alipay overdue penalty interest requirements:

Add 1.5 times interest to the original interest. Overdue interest = overdue amount * number of overdue days * interest * 1.5. The longer the overdue time, the higher the interest rate. The interest rate will be higher. So it’s best to pay it off as soon as possible after it’s overdue.

If the payment is overdue for more than 3 months and the amount exceeds RMB 10,000, and Alipay fails to pay after multiple reminders, the borrower will be sued to the court. At that time, not only will the borrower have to pay back the money, but he may also be liable for legal liability. responsibility.

2. Damage to personal credit

In the past, only some Alipay users’ borrowings were subject to credit reporting, while Huabei was not subject to credit reporting. After Huabei Jiebei is overdue, Zhima credit score will be greatly reduced, and the impact on personal credit report will not be significant.

After accessing the central bank’s credit report, if Huabei Jiebei becomes overdue again, Alipay will upload the overdue behavior to the central bank’s credit report system, and the overdue record will be reflected in the personal credit report.

The information updates in the new version of the credit report are all in T 1 mode, which means that once it is determined to be overdue, the credit report center will update the overdue record in the credit report the next day.

Overdue online loans will lead to poor credit reporting. Credit reporting is proof of personal credit and can be regarded as a person's "economic ID card." When the credit report is bad to a certain extent, it will also have many adverse effects on our daily lives:

3. Impact on personal travel

If the personal credit record is blacklisted, for example He maliciously defaulted on bank loans and was sued by the bank. This will result in the borrower being unable to fly, stay in a star hotel, etc.

4. Impact on employment

Some companies will conduct background checks on employees before joining. If a bad credit record is found, they may think that the person has integrity problems and refuse to let him join the job. .

5. Impact on children’s education and daily life

If parents are included in the list of dishonest persons, in some schools that require political review, the child’s qualification review is likely to fail, and even more serious It will affect joining the army, applying for military academies, taking exams for civil servants, institutions, and state-owned enterprises, etc.