What are the consequences of not repaying CMA CGM installments?

1. Online loan overdue records are recorded in the People’s Bank of China’s personal credit reporting system

Currently, most formal and legal online lending platforms are connected to the People’s Bank of China’s personal credit reporting system. Once an online loan becomes overdue, , online loan platforms will report overdue records to the People’s Bank of China’s credit reporting system. Once your credit is seriously overdue and you become a black account (online loans are overdue for more than 3 months), all bank loans, credit cards, and online loans with credit checks will not be available.

2. High overdue fees

Overdue online loans will not only be recorded in the credit report, but will also be subject to high overdue fees. Generally, the late payment fee for overdue online loans is 0.05% per day, which means that 10,000 yuan will cost 5 yuan in interest per day, which is 150 yuan per month, and interest will be compounded until the court forces you to repay the loan. , these late payment fees will add up to a huge amount, and it is really not worth the loss.

3. Accept the platform’s fancy debt collection methods.

Collection is generally divided into three stages: the first stage, just a few days overdue, the platform customer service MM whispers and warmly reminds you that it is overdue, please repay on time; the second stage, overdue For a long period of time, the platform customer service gave a serious warning, threatening to face serious consequences if the deadline is exceeded again; in the third stage, when the deadline is long overdue, the platform no longer offers good words and starts to take practical actions.

There are many types of practical actions. For example: the platform will push your debt information to your relatives and friends, making you lose face in your circle of friends; the platform will arrange for specialized collection personnel to come to collect collections, and face-to-face communication is required. Account etc. Of course, these are relatively mild. Some platforms outsource debt collection and let specialized debt collection companies handle the debt collection. I believe borrowers are not willing to encounter the "violent debt collection" scandals reported some time ago by debt collection companies.

4. If the circumstances are serious, you will be imprisoned

Usually, incidents such as borrowing money and not repaying it are civil disputes and do not rise to the criminal level. However, if the borrower refuses to perform or has the ability not to repay, and insists on being a bad guy, then the court can pursue the borrower's criminal liability, and in extremely serious cases, he will be jailed.

Extended information:

On October 29, 2018, information about the first batch of online lending platform borrowers who maliciously evaded their debts was included in the central bank’s credit reporting system and faced penalties for breach of trust.*** The overdue amount involved is nearly 200 million yuan.

The so-called malicious evasion of debt refers to the behavior of having the ability to repay but not fulfilling the repayment responsibility. In the more than 10 years since the development of online lending, malicious debt evasion has been a persistent problem in the industry. Especially in the recent past, some P2P online lending institutions have experienced frequent risks. Some borrowers have taken the opportunity to maliciously evade debts and fail to repay overdue loans, which has intensified the risks in the P2P online lending industry.

Industry insiders believe that incorporating information about malicious evasion of debt in the Internet financial field into the credit reporting system and implementing means and measures to punish untrustworthy behavior will not only help urge borrowers to repay debts in a timely manner, but also help Purify the Internet financial environment. With the gradual implementation of regulatory policies for the entire online lending industry, incidents of malicious debt evasion and malicious platform evasion will be significantly reduced, and the online lending industry will develop more healthily.

Reference: Baidu Encyclopedia-Online Loans