The consequences of applying for installment repayment in Bai Hua are very serious. You must know these six effects.

Bai Hua's application for installment repayment may bring several serious consequences. You need to know the following six factors:

1. Decline in credit rating: Repayment by installments with Bai Hua will increase your loan burden. If you fail to repay on time or default, your credit rating may decline.

Second, the interest fee is high: the flower garden will charge a certain interest fee in installments, and the installment repayment will pay more interest than the one-time payment.

Third, the borrowing ability is limited: frequent use of flower buds to repay by installments may cause banks or other financial institutions to question your borrowing ability and limit your future borrowing opportunities.

Fourth, affect other loan applications: When applying for other loans or credit cards, the bank will consider your credit history. Frequent use of Bai Hua installment repayment may affect the pass rate of other loan applications.

5. Overdue penalty interest and collection: If the repayment cannot be made on time, Bai Hua will charge overdue penalty interest, and may entrust a collection agency for collection, which will increase your repayment pressure and cost.

6. Risk of legal disputes: serious overdue may lead to court prosecution, and then may face legal risks such as enforcement.

It should be noted that before applying for online loan, you can use "Songguocha" to inquire about the number of user applications, online loan data, online black index score, hit risk warning, court prosecution information, arbitration case information, dishonesty information and other related data. To help you understand more accurate information.