When applying for microcredit, the loan platform usually carries out a rigorous examination of the comprehensive qualifications of the users and implements a series of management measures after the loan. If the loan is overdue, the Platform will take the following serious approach, the consequences of which cannot be underestimated。

What measures will be taken if the loan is overdue? The consequences are serious

First, overdue cases will be reported to the system. As soon as the user is overdue, the Platform will record the situation and submit it to the system, resulting in poor recording on the user ' s letter report. These records will have a serious impact on the future credit activities of users, as they will remain in place for approximately five years, even after the arrears have been paid out, with long-term negative effects on the credit status of users。

Second, the Platform will provide a reminder to late users. While the families of the borrowers are not harassed by telephone, they are frequently urged to repay the money by telephone and by text messages. It is important to note that formal lending institutions are limited to contact the borrower himself and do not disrupt the borrower ' s family and friends. If the user has been misled, the relevant information can be prepared and a complaint made to the relevant authorities。

Third, the collection of late fines. Overdue users will not only pay their normal fees, but will also be charged daily rates and interest charges. These interest rates are usually higher, which further increases the user ' s debt. Thus, when the overdue arrears are settled, the user must also clear the amount of interest paid in order for the debt to be truly discharged, and the risk remains。

Finally, the platform may freeze the loan lines of users. Once a user is overdue, the platform will consider the user to be at greater economic risk and more likely to be subsequently overdue. Therefore, for wind control reasons, the Platform may suspend the crediting lines of the users, which would have a direct impact on the outcome of future re-applications by users. For when to recover, the Platform ' s notice will normally prevail。

In summary, when the loan is overdue, the Platform will adopt strict management measures. In order to avoid these grave consequences, users should maintain good repayment habits and pay their loans in full and on time, and avoid any form of delay。