The use of flowers and borrowings is high among modern young people. However, there were also a number of persons who were too easy to use, resulting in over-repayability and arrears. So let's see what happens if we don't pay our debts

Can you apply for a break

FIRST, IF SPENT MORE THAN THE REPAYMENT DATE, INTEREST WOULD BEGIN TO ACCRUE AND MORE AND MORE WOULD BE OWED, SO THAT DEFAULT PAYMENTS WOULD BE AVOIDED. IT'S THE SAME THING. FOR EXAMPLE, IF THE REPAYMENT OF THE AMOUNT DUE IS NOT COMPLETED BEFORE THE REPAYMENT DATE, THERE WILL BE INTEREST ARREARS, CALCULATED AT THE DAILY RATE OF 0.05%, EQUAL TO INTEREST UP TO 18% PER YEAR。

The option of non-payment is subject to default and a fine of a certain amount if there is a real situation of non-payment, even in instalments. Moreover, if you had set up a instalment, the instalment would have been cancelled. The more serious consequence is that your credit records will be marked as “blacklists”, which means that you will not be able to borrow to buy real estate and cars in the future, which may even affect children's enrolment, high iron and aircraft travel, civil servants and career-writing examinations, and travel abroad。

If the delay reaches 30 to 79 days, the financial institution has the right to file a complaint with the local people ' s court. Depending on the amount of the arrears, you may be sentenced to up to two years ' imprisonment and a fine of between 20,000 and 50,000, which may be more severe。

So, can you apply for interest? In the case of overdue flowers and loans, the system does not voluntarily hold interest for users. You have to take the initiative to pay off the flowers and borrow it in order to apply for a negotiated repayment, which, if successful, could put the interest on hold. It should also be noted, however, that in the event of a failure of consultations, users are usually required to pay their overdue arrears once and for all. A one-off payment of arrears was a great burden for users with insufficient repayment capacity. If there is no interesthold, it would also be a good option to apply for amortization, which would reduce the pressure on repayment and gradually repay the arrears。