Will Gitzo Finance be sued if it is overdue? Can you open the door?

Gitzo will be sued if it fails to come to the door within the time limit.

If it is temporarily unable to repay, it may negotiate with creditors to repay by installments or postpone repayment. If the law stipulates that the borrower fails to repay the loan within the agreed time limit, it needs to pay a certain amount of overdue interest in accordance with the agreement or relevant state regulations, and also needs to bear the corresponding liability for breach of contract.

If Gitzo cannot repay the loan, the customer needs to raise enough funds before the repayment date expires. For example, you can borrow money from relatives and friends to repay the loan. If you encounter some special circumstances that lead to outstanding loans, you should also communicate with the platform in time, try to apply for deferred repayment of loans, and don't easily overdue.

After Gitzo is overdue, the customer shall bear the following overdue consequences:

1, credit will be hurt.

2. It will be collected by the platform.

3. There will be penalty interest.

4. The loan amount will be reduced.

5. The loan amount will be frozen.

6. Affect other loan applications.

7. Occupation is affected by credit information damage.

8. Will be blacklisted.

9. Malicious overdue will be prosecuted.

10, unable to enjoy preferential loan policy.

It can be seen that overdue has a great impact on customers. In order to avoid overdue as much as possible, customers need to keep records of borrowing and repayment, consider the economic situation comprehensively before applying for loans, and borrow reasonably within the scope of personal income, so as not to bring too much debt pressure to later life.

Even if Gitzo sues the user, it is a civil dispute, and this will not be filed. Moreover, after Gitzo sues users, the court will first notify both parties to negotiate. If negotiation fails, the court will make a judgment. Moreover, Gitzo generally does not sue users, because it costs a certain amount to sue users, and often the final prosecution fee is higher than the debt recovered.

legal ground

People's Republic of China (PRC) Civil Code

Article 676 If the borrower fails to repay the loan within the agreed time limit, it shall pay the overdue interest in accordance with the agreement or the relevant provisions of the state.

Article 678 The borrower may apply to the lender for extension before the repayment period expires. If the lender agrees, it can be extended. Article 667 A loan contract is a contract in which the borrower borrows money from the lender, repays the loan at maturity and pays interest.