There are three consequences of non-repayment:

1. Your credit record will deteriorate, which will also cause a low credit evaluation, which will become a stain on your credit. Bad credit reports will be uploaded to the People's Bank of China. In the personal credit reporting system, there will be stains on various systems across the country, and you will not be able to apply for a credit card or apply for a loan in the future;

2. The bank will sue you to make you repay. If you do not repay, the court will You will be forced to repay.

3. If you use a credit card to pay in installments, the bank will save you late fees, so you will need to pay back more and more money. When a certain limit is reached, the card owner will be notified. If the balance is still owed, the police will be called and you will be sued.

Instalment payment

Instalment payment (Pay by Installments) is mostly used in product transactions with long production cycles and high costs. Such as the export of complete sets of equipment, large-scale vehicles, heavy machinery and equipment and other products. The method of installment payment is that after the import and export contract is signed, the importer first pays a small part of the payment to the exporter as a deposit, and the rest of the payment is paid after part or all of the product is produced, shipped, or after the goods arrive for installation and test run. , investment and repayment in installments when the quality guarantee period expires.