Loans need to be returned in a timely manner, and they cannot be repaid, but they cannot be borrowed. That is the rule that we should follow when we face a borrowing platform. Because it's really a big deal if you don't make the loan. It will have a series of adverse effects. Let's look at them together。

Why don't you borrow money from a loan platform? This could have negative effects

First of all, the loan may not leave a stain on your letter record. Most of the microfinance products are now connected to the letter system, and the Platform reports the overdue status of borrowers. It's like a permanent scar, and it'll leave a bad record on your letter report. Even if you had subsequently settled the arrears, the overdue record of the loan would have been on the letter for five years。

Second, a loan doesn't pay you back a lot of interest. In theory, through normal repayments, the borrowing platform will only charge normal interest on the loan. But if you're overdue, you'll have to bear the penalty, in addition to normal interest, which is daily. The longer you're overdue, the more you get, the more your debt is under pressure。

In addition, the non-payment of the loan may result in the freezing of your loan line. Your lateness is tantamount to an indication that a breach has occurred, which usually sends a signal to the borrowing platform that there is a risk that there is a need to reduce or even freeze your loan line. At that point, it's going to be harder for you to borrow again until the risk is eliminated。

Even more serious is the possibility of prosecution if you are maliciously overdue. The assets in your name could then be frozen and you would have to repay the overdue debts before you could unfreeze them。

Finally, the loan may not have allowed you to enter the list of missing persons. Once sentenced, if you continue to refuse to enforce the sentence, you may be classified as a disbelieving person, which will limit your daily high consumption and even affect the children's access to high-cost private schools。

Therefore, in order to avoid these problems, we should take a rational view of borrowing, based on evidence, and not overload。