What are the consequences of overdue business loans?

4, the bank issued a letter of attorney, to the court
3, unable to enjoy preferential loans, and even have not applied for loans
Punitive interest intensity, different lending institutions, some small loan companies may be more liquidated damages. You may have only paid 10 thousand yuan, but you will not pay for more than 3 months, and you may end up paying 10 tens of thousands of interest and late fees.
What are the consequences of overdue business loans?
Although each lending institution has different policies, generally speaking, banks will speak better than small loan companies. If the credit is overdue, the lender will call for a loan to remind the borrower of repayment, while interest rates will go up as a daily penalty.
If you haven’t paid for more than 3 months, it’s serious. Lenders will according to law for collection of due loans according to the loan contract and the guarantee contract (mortgage or pledge contract agreement), will be to the court, the court will take the property preservation measures, including the freezing of lenders and all bank account loan guarantor on deposit, has seized collateral property etc..
2, resulting in bad credit records, affecting future loans and credit cards
A lot of people again in the loan application, but found himself in the past due to carelessness, loans left too much overdue repayment record, in addition to loans overdue penalty, and may not be able to successfully obtain bank loans preferential interest rates, what is more, want to re apply for housing loans have become impossible.
1, a punitive interest, plus 50% interest
Enterprise loans refer to a kind of loan method for enterprises and banks or other financial institutions according to the prescribed interest rate and time limit for the purpose of production and operation. Enterprise loans are mainly used for fixed assets purchase and construction, technical transformation and other large long-term investment. Then, what are the consequences of overdue business loans?
Every second days after your overdue date, your name will appear in the bank’s internal system, and then the governor and the risk control will see it. A credit report will inevitably leave a bad record after the expiry date. Once left, records that may be retained for 3 years or ~7 years may be difficult to apply because of bad credit in the future if they want to borrow from other banks.

Original article, reprinted please note: ReprintLOAN

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