Is it okay to borrow money from Fe Credit and not pay?? The answer is yes, a lot of problems you will face if you dodge Fe Credit. He was even sued for the crime of abusing trust to appropriate property.
When facing financial difficulties, Fe Credit is the fast loan unit that many customers think of. But when taking a loan, there is no clear repayment plan. This leads to inability to pay. However, instead of contacting Fe Credit to extend the repayment period, many people chose to default on Fe Credit. This has caused a lot of unpredictable consequences and is very difficult to overcome.
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What is Fe Credit?
Fe Credit is a financial company specializing in providing fast loan products, installment loans. With simple loan conditions and procedures, any customer aged 18 or over with full identification can apply for a loan. With a high loan limit and no proof of income or mortgage, Fe Credit is chosen by many people when facing financial difficulties.
Fe Credit is a subsidiary of VPBank and currently has sold a 49% stake to Sumitomo Mitsui Financial Group of Japan. With the advantage of capital and reputation, Fe Credit is trusted by many customers whenever they need a quick loan.
But it is because the loan is fast and does not need many attached conditions. Therefore, many customers have applied for loans without considering their own repayment ability. This leads to insolvency and huge penalty fees.
The reason why Fe Credit does not pay
There are many reasons that lead to Fe Credit bank loan does not pay. But most of it is because the customer has already lost the ability to pay due to the large amount of money. Let's take a look at some of the common causes of this condition.
- Due to customers having financial difficulties due to job loss, bankruptcy, etc. and not having enough financial capacity to pay.
- Refusing to pay the loan for Fe Credit due to a conflict between the two parties. Customers believe that Fe Credit is a fraud, lending with high interest rates and collecting unreasonable money.
- Deliberately not paying because the amount is too high compared to the original.
Can I get sued if I don't pay Fe Credit loans?
Is it okay if you don't pay fe money?Will you be sued in court? This question a lot of customers ask when they are in overdue debt.
The answer is no, Fe Credit will not sue because it has collected interest rates in excess of 20%/year. They only apply debt collection measures that affect the life, spirit and honor of the borrower and the debtor's relatives.
Is it okay if Fe Credit doesn't pay?
For any loan, when the borrower fails to pay the principal, interest or penalty fees in full. At this point, that person will definitely have a problem. So Is it okay to borrow money from Fe Credit and not pay?? Consequences that you will have to bear when avoiding debt Fe Credit.
Extend the repayment period if you encounter difficulties
When you borrow money at Fe Credit but are facing economic difficulties and cannot repay on time. But in this case, you should actively contact Fe Credit to apply for a debt extension. Absolutely do not avoid not answering the phone from Fe Credit's number.
But note, debt rescheduling is not a reduction in interest. The amount of the penalty you will still have to pay in full according to the actual number of days past due.
Fe Credit is coerced if you deliberately avoid debt
There are some cases when Fe Credit calls to remind of debt repayment. But deliberately did not answer the phone and acted to avoid debt. At this time, Fe Credit will enforce debt collection by sending people to the house to work.
Or you can send text messages and debt collection papers to your home or work to collect debt. This greatly affects the spirit and honor of the borrower.
File a lawsuit in court
According to the law, those who have evaded debt with the amount of 4 million or more will be sued after 36 months of overdue. However, at Fe Credit, they will not do that because they have violated the state's regulation on interest rate of 20%/year.
So, make sure you won't be sued in court. But will still have to face debt collection methods from Fe Credit every day.
Having bad debt stored on CIC
Fe Credit is a fully licensed financial company. So they have access to CIC and provide information of borrowers. So when you have an overdue loan, you will be sent information to CIC and get bad debt.
The group of bad debts acquired will depend on the overdue time of the loan. The longer the period, the heavier the group of bad debts and difficult to overcome.
Pay penalty fees with high interest
Fee for late payment of Fe Credit is very high, customers will have to pay an amount many times higher than the original principal amount.
Specifically:
- Overdue interest is calculated on the overdue principal amount at the interest rate of 10%/year.
- Interest charged on deferred interest will be 150% of the original loan interest rate.
Calculation formula:
Penalty fee = Overdue interest on principal balance * 10% + overdue interest on late payment interest * 150%.
Affect family and friends
When there is a deferred loan at Fe Credit. If you think that just turning off the phone and changing the information on social networks will not be bothered. Then that is completely wrong. Because when taking out a loan, you entered the reference number (phone number of a relative). At this time, Fe Credit will access the phone book and call each person in this list of numbers.
In addition, Facebook and Zalo pages of friends will also be commented on by Fe Credit with bad images, vulgar words that offend friends and relatives.
Summary
The consequences of not paying the loan in full are enormous. So, when you borrow money, you must pay the loan amount in full on time. So through this article, Ruttienthetindungonline.com has accompanied you to find out Is it okay to borrow money from Fe Credit and not pay?? Hopefully with what is shared above has helped you have the most accurate view on this issue.
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