In life, micro-credit payments are a credit-paying service that is officially granted to users by MS, and their model is somewhat like a split of the flowers that pay the treasure. However, the amount of the credit is limited to daily consumption and cannot be borrowed. Then we'll see if we can split the credit。

What happens when you're late

IN PRACTICE, THE CREDIT-SPLITTING FUNCTION DOES NOT HAVE A INSTALMENT FUNCTION, THAT IS, IT DOES NOT SUPPORT INSTALMENT PAYMENTS. HOWEVER, THERE ARE NO LIMITS ON THE LENGTH AND AMOUNT OF REPAYMENT. ONLY 101 TP3T OF THE AMOUNT ALREADY USED BY THE USER AT THE TIME OF THE LAST MONTH'S SETTLEMENT WOULD THE USER BE ABLE TO CONTINUE USING THE SUB-PAYMENTS. THERE DOES NOT APPEAR TO BE ANY INSTALMENT, BUT THIS ARBITRARY MODE OF REPAYMENT IS IN FACT EQUIVALENT TO A INSTALMENT. EVEN IF NOT IN INSTALMENTS, THERE IS A MINIMUM REPAYMENT OPTION, SO LONG AS THE MINIMUM REPAYMENT IS MADE AT EACH INSTALMENT, YOUR PERSONAL LETTER WILL NOT BE AFFECTED. AT THE SAME TIME, THE USER CAN REPAY THE LOAN IN FULL AT ANY TIME AS REQUIRED AND CALCULATE INTEREST ON THE BASIS OF THE NUMBER OF DAYS ACTUALLY USED。

So, what happens if the credit is overdue

1. Borrowers face high rates of interest and default, requiring greater repayment pressure。

The borrower cannot again use the Platform's instalment service until the debt has been repaid。

3. Late repayments have a negative impact on the credit of borrowers and will be recorded accordingly in their letters of credit reports。

Borrowers may be called upon by lending institutions to influence the order of personal life。

In general, the issue of repayments requires special attention when micro-credit is used。