You may have heard of the 360 loan platform and noted its growing popularity. However, there are times when the loan is not repaid on time. So let's talk about what happens if you fail to repay the 360 loans on time。

There are no consequences for the 360 loan

The first effect is that it may damage your personal credibility. The 360 loan is a formal loan service platform that uploads your overdue records into the personal credit system once the loan is overdue。

NEXT THING YOU KNOW, YOU'RE GONNA BE FINED. EVEN AFTER A SINGLE DELAY, THE PENALTY IS DEDUCTED AT THE DAILY RATE OF 0.05%. THE LONGER THE DELAY, THE GREATER THE FINE。

Also, the staff on the 360 loan will keep making a call to you, may call or text, and your daily life is likely to be affected in some way。

Most importantly, if your overdue act is already on personal credit, the borrower may encounter difficulties in applying for a loan or approval card from a bank or other consumer credit institution。

The most extreme consequence is that you may be prosecuted, and if you are prosecuted, your name may appear on the Black List, which may have an impact on all aspects of your future travel, home-purchase loans and car-purchase loans。

When you find it impossible to repay the loan, the best option is to do so in consultation with the lending institution. You should settle first for the loan. For untrustworthy Internet loans, they can be repaid slowly, depending on the actual situation. Please note that, in the repayment process, you are required to repay only reasonable and legal interest on the loan in respect of unsubscribed Internet loans。