What about the delay in processing the granule loan? First of all, we need to know that microprime lending is a personal credit product launched by microbanks, and that a broad group of users is chosen mainly because of its ease. At the same time, however, microbanks are also receiving some questions about the overpayment of particulate loans, so what are the concrete results? Let's see。

What happens when a loan doesn't pay

First of all, you'll be under pressure to pay for your time. It gives users a one-day grace period. That is, if you do not pay your arrears by 2400 on the day after the date of repayment, you are marked as overdue. Since then, 1.5 times the interest rate on your borrowing will be used as a penalty for the delay until you settle all your arrears. Overdue fines will accumulate in your debt, thus increasing your repayment pressure。

Second, you'll get bad credit reports. As a credit loan product, it records the entire process of your borrowing to repayment and generates monthly bills. This includes your late payment record, which means that if you fail to pay on time, your credit records will be marked late. Overdue records are one of the bad credit records that can have a negative impact on your credit, and it will take five years to remove them from the record, during which time your loan applications may be somewhat hampered。

Next, the collection will begin. If you have not yet repaid your arrears, the lending institutions will start a collection process and they will recover the amounts due by telephone or by short message. This collection process will take place on a daily basis before you fully settle your arrears, which will undoubtedly put pressure on you。

Finally, with regard to your bank card and your micro-mail wallet, these may be subject to an execution deduction. When you are behind schedule, microbanks may not only pay for themselves, but may also withhold money from your microblank, twig, etc. As long as you have money in your account, however much it may be withheld until your overdue arrears are fully repaid。

There are several ways to deal with past dues: you can contact a particle loan client, explain your particular situation and apply for a deferred repayment; you can also borrow money from family and friends to repay a small loan and return it when you are able; or you can negotiate a partial repayment directly with the particle loan, which can start if agreement is reached。