We have often heard that micro-credit can help us out in times of financial constraints, so that we can make a timely swing. However, “debts to pay, rightly so”, is the rationale that no debt can be paid for a long time. Unfortunately, some people disappeared after borrowing, bypassing the online lending platform, and the borrowing became theirs. So, what would be the impact of long-term non-payment of microcredit

What is the impact of the long-term absence of microcredit? These consequences cannot be ignored

First, when the loan is overdue, the penalty will be another burden on you. Whatever platform you borrow, as long as your money is overdue, you will be punished with a fine and a delay, and the longer it is, the higher the fine, the greater the snowball, the greater the burden。

Secondly, your credibility will be seriously undermined. In this era, personal credibility is crucial, especially in the area of financial lending. If you are too late to pay your debts, or if you are too late, you may be on the Internet blacklist, then it will be very difficult to apply again in the future, let alone for bank loans and credit cards。

Finally, the creditor will use a series of collections to recover your arrears. In the initial period, they may only send text messages or telephone calls, but when debt enters the middle and late stages, the debtor will face various means of collection, which may even include door-to-door collection, with serious consequences for the physical and mental health of himself and his family。

In conclusion, it is important to be careful when borrowing, to determine the amount of borrowing in the light of their actual situation, to check their overdue records in a timely manner and to contact financial institutions and to settle their debts as soon as possible. In addition, those with weak self-restraint should try to avoid Internet lending and, if so needed, should choose formal Internet lending institutions。