When you urgently need a cash flow, borrow "this product may be your solution. However, a number of users have recently experienced late repayments. Then the question arises. What are the consequences of the delay

What happens when you're overdue

First of all, there is a great economic pressure for late action. In the event of an overdue act of borrowing, the penalty is immediately effective and calculated at a rate of 1.5 times the normal rate of interest on borrowing until the user has paid the full amount due。

Secondly, the late payment will have a negative impact on your personal credit. As an on-boarding institution, it can simply upload the user ' s overdue acts to the central bank letter system, leaving a trail of undesired borrowing records in the user ' s letter report。

In addition, the borrowed functions need to be considered. The Payments Board conducts a cyclical and comprehensive assessment of the user ' s accounts and adjusts the eligibility and amount of use borrowed on the basis of the results. If you borrow after-due acts, this may result in a low overall rating, with the result that the borrowing function is not operational。

For those borrowers who are applying for credit cards, late borrowing can affect credit card levels and may even lead to credit card approval failures. While the amounts prior to the credit card are not affected by existing credit card users after the loan has expired, late records may also appear in letters of credit reports。