With the growth of Internet lending, the Internet finance industry has grown more than ever and the market-based network lending platform has emerged as a spring. The conditions and thresholds for the application of micro-credit products are very low, and basic information, such as mobile phone numbers, identification cards, is usually required. However, interest on these web-based products is generally high and, once the financial chain breaks, delays occur, which triggers a collection action by the network-based lending institutions. So, can we get more than a year? The following is a detailed list of Internet loan overdue solutions。

Will the online loan collection take more than a year? There are serious consequences of overpayment

First, talk about the early stages of the overdue period. In the first week after the expiration of the deadline, persons in arrears continue to receive text messages and telephone calls from the web-based lending platform, albeit with a relatively moderate tone, but the content is mainly an incentive to pay back as soon as possible, otherwise they may face negative effects such as high overdue costs and damaged personal correspondence。

THIS IS FOLLOWED BY THE MID-TERM DELAY. IN A PERIOD OF BETWEEN ONE AND THREE MONTHS, THERE WILL BE A SIGNIFICANT INCREASE IN RESPONSE. SOME OF THE COLLECTORS MAY CONTACT THE PERSON IN ARREARS THROUGH MICRO-LETTERS, USE THREATS AND VERBAL ABUSE, AND NOTIFY THEIR RELATIVES AND FRIENDS, OR EVEN MALICIOUS P-CHARTS, OF THE SITUATION OF THE PERSON IN ARREARS。

Then again, the overdue period. If more than six months are overdue, there are two possible outcomes: first, that the web-based lending platform abandons the collection so that the debt becomes bad; and, secondly, that the debt is transferred to third-party collection companies, which may be more intense and may even come to collect。

Thus, web-based lending collections typically last for a considerable period of time and become more stringent when initial persuasions are ineffective. Therefore, in conducting web-based lending, we need to carefully select loan platforms, carefully assess our own repayment capacity and actively communicate with borrowing platforms to avoid unnecessary disputes and losses。

The consequences of over-lending on the Internet are not only a violent build-up, but also have a serious negative impact on the creditworthiness of borrowers, who may not have access to basic credit services and who may not have access to credit in the future when funds are urgently needed. Overall, the timing of the collection of web-based loans varies according to the circumstances, depending on the communication and cooperation between the parties and the progress of follow-up action。

For borrowers, the best way to do so is to fully understand and comply with the relevant contracts and agreements during the borrowing process in order to avoid the problem of late repayments。