Do I still need to pay back the credit card after securitization?
Bondization of credit cards is a way for banks to deal with non-performing assets. Usually, the debts that cannot be recovered by credit cards are issued in the form of securities and sold to the market at low prices. When someone buys securities, it is equivalent to taking over the bank's debt. When the debt reaches the bank, it will be terminated, and the person who takes over will become a new creditor of credit card arrears.
Although the credit card has been claimed, the money owed by the cardholder is still there, but the creditor has changed. If the cardholder fails to repay the loan, the bond purchaser can collect the debt from the cardholder at any time. If he doesn't pay back, he will usually go through legal procedures.
On one occasion, a card friend said that he had not paid back his credit card for a long time and wanted to negotiate repayment with the bank. As a result, the bank said that the money he owed had been securitized, and the card department ignored it and asked him to prepare a lawyer because investors who bought credit card securities might sue him.
It can be seen that credit card securitization still needs to be returned, but it will not necessarily be returned to the bank, and it will probably be sued by creditors, and there will even be other consequences. We must pay attention to this.
The above is "Is the credit card still used after securitization?" I hope it will help everyone. In short, credit card securitization still needs to be returned, and the consequences of not returning it are very serious. So don't go to this step easily, and pay back the money owed to the credit card on time.