How to deal with the outstanding payments for the shivering month? The monthly payment is a small loan product on the platform. This product provides a monthly payment of the bill when the user is shopping at the Mall. But what would happen if users failed to return the funds

What happens if you don't pay the money

First, the non-reimbursement of the monthly payment will affect your personal credit standing. Most of the online loan products have been successfully connected to the credit reporting system, including the monthly payment of the voice. When the user is overdue, the platform records its overdue actions into the credit system. This would leave a record of non-performing loans in credit reports, which would have a direct impact on future credit activities and workplace planning。

Second, the non-reimbursement of funds would result in a reminder from the shivering platform. As soon as it is overdue, the shivering platform is followed up by a telephone or text message urging the user to reimburse it. Such collections continue to disrupt the daily lives of users until they have paid their overdue debts。

In addition, the user will bear the cost of the overdue interest rate. The monthly payment is in some respects similar to that of a credit card, and no additional costs are required if the user is regularly reimbursed. However, once overdue, the user must start paying the overdue interest rate. As the time lag increases, interest-rate penalties will also become increasingly high, placing significant financial pressure。

Finally, unpaid amounts may result in the amounts being withdrawn. Once the users are behind schedule, this means that there is a high risk to their credit or a financial problem. In order to control the risk, the shivering platform may withdraw the approved loan line, which will result in users not being able to use the monthly payment line for a considerable period of time。

As for the amount to be paid for the shivering month, a maximum of 30,000 can be requested. This amount is the credit line granted by the lending institution on the basis of the user risk assessment, not the loan commitment. The loan institution has the right to change or freeze the amount of the user, or to change the amount of the payment, or even to suspend the payment of the loan. As a result, the amount of credit paid in the shivering month is dynamically adjusted and users can view the information on the platform page to see the amount they can use。