Learn some financial knowledge every day, and don't be financially blind
Let's talk about this topic today:
How long will it take for an online loan to be overdue?
The answer is: about 90 days, you can go through the legal process
First of all, I have to tell you a rough rule. Under normal circumstances, if your online loan is delayed, about 90 days, the person who borrowed your money can sue you.
Why?
Because our country's "Contract Law" and "Civil Procedure Law" stipulate so. To put it simply, if you owe money and don't pay it back, people have the right to take you to court.
But the specific time of the defendant depends on the contract signed when borrowing the money, as well as the creditor's plan. Some creditors, as soon as you overdue, they will immediately start the legal process. But there are also creditors who may wait and want to get their money back through debt collection or negotiation.
It's also important to note that once you're sued, you may have to pay legal fees and liquidated damages in addition to repaying the money you originally borrowed and interest. It's not a small amount of money, so the best thing to do is to try not to let your online loan be overdue. If it is really overdue, then quickly discuss with the creditor to see if it can be resolved peacefully, so as not to make the matter big and cause trouble for yourself.
At the end of the day, it's easier to borrow than to repay, and the old saying is true. Therefore, before you decide to borrow an online loan, you must carefully consider your ability to repay. Don't get yourself into trouble because of impulsiveness, and the gains outweigh the losses.