Are there any consequences if the loan is one day overdue?

The effects of one day's overdue borrowing include: overdue interest, calculated at 150% of the borrowing interest rate; reporting to the credit report for more than 3 days overdue, affecting personal credit; collection by the platform, including text messages, phone calls, door-to-door visits, etc.; Serious overdue payment may result in account restriction or cancellation.

The impact of one day's overdue borrowing

If one day's borrowing is overdue, the following impacts will occur:

1. Overdue fees

After the overdue period, Jiebei will charge overdue interest on a daily basis. The specific interest rate is 150% of the borrowing interest rate.

2. Impact on credit reporting

If a loan is overdue for more than 3 days, it will be reported to the credit reporting system and an overdue record will be formed. Overdue records will affect personal credit, leading to difficulties in loan application or higher loan interest rates.

3. Collection

After the borrowed money is overdue, the platform will collect it. Collection methods include text messages, phone calls, door-to-door visits, etc.

4. Restricted use

Serious overdue payment (such as overdue for more than 90 days) may result in the borrowing account being restricted from use or even canceled.

Note:

• Being one day overdue on a loan will not have a significant impact on your credit score.
• If the overdue debt can be repaid in time, the overdue record will be retained in the credit reporting system for 5 years.
• Avoid overdue borrowing to maintain good personal credit.

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