When you borrow small amounts of money, remember to focus on repayment days at all times. You need to clear the arrears within the agreed repayment period. However, the situation is always unsatisfactory, and you might ask, what would happen if I were a little behind schedule? I'll explain this to you。

What happens when you're a day late

First of all, let us be clear about the fact that there is no grace period for small fills. The overdue count starts at 24 a.m. on the day of repayment. This means that if you remain unpaid in the early hours of the next day on the repayment date, that means you're a day behind schedule. Although it was only a short day, it could have some negative effects on you. In general, these impacts are twofold: overdue costs and personal credit。

Let us first turn to overdue costs. If you are overdue, there will be a delay penalty. The exact amount of interest penalty is determined by the criteria shown on your loan page. A simple calculation is the overdue amount* the overdue rate*. For example, if you delay one day, the rate of the penalty is 1.5 times the normal rate of interest, five per 10,000 per day and the amount of the delay is 1,000 dollars, then you will have to pay 0.5 dollars. Remember, the longer the delay, the greater the fine。

Next is the question of personal credit. Doo-man will report your overdue records to the system. This will affect your personal correspondence records. For example, if you are overdue one day, then your overdue record will show a “1”. Although the delay of one day will not have a significant impact on your personal correspondence or prevent you from doing other credit operations after you have paid your arrears, it will take five years for this overdue record to be cleared。

In other words, whether or not the number of days overdue is a good option. We therefore strongly recommend that you pay back on time so as to avoid the negative impact of the above。