With the rapid rise in Internet finance, network lending has become an increasing number of lending options. However, for a number of reasons, it may be necessary to apply for an extension when the borrower is unable to meet the repayment schedule. So, does the extension affect personal credit? Let's go。

Is a delay in repayment of the Internet loan affecting credit

** Impact of network lending extensions on credit**

Applying for an Internet loan extension may have some impact on your credit rating. If your request for an extension is granted, but the loan cannot be repaid as scheduled during the extension, this will negatively affect your credit rating. It was therefore important to carefully assess its own repayment capacity before requesting an extension in order to avoid unnecessary credit damage. Conversely, if the borrower is able to pay on time after the extension, the extension itself will not generally affect personal credit。

** Potential advantages of extending the Internet loan**

For borrowers, there is also a positive side to this. First, the extension could ease short-term financial pressures and give borrowers more time to raise repayment funds. Second, an extension request could help borrowers avoid additional costs such as fines and late payments. It needs to be noted, however, that the extension would be costly and that it would be particularly important to take a decision after a trade-off。

** How can I apply for an extension? **

The first step is to contact your lending institution or platform. They will ask you to provide the necessary documentation, such as identification, work, income, etc. Different agencies and platforms may have different requirements, and it is therefore advisable to consult them well in advance before applying。

Your extension request will be reviewed by a loan institution or platform after the submission of relevant material. If the review is approved, they will consult you on the new repayment date and the deferred costs. In general, the cost of the extension is charged in proportion, depending on the different agencies and platforms。