What are the consequences of not paying up your credit card

Legal analysis: 1. Incurring late payment fees on credit cards.

2. Overdue interest.

3. Credit card users who repay overdue will be recorded in their bad credit records.

4. If the cardholder exceeds the prescribed limit or overdrafts within the prescribed period for the purpose of illegal possession, and still fails to return the money after being called by the issuing bank, he may be suspected of committing a credit card crime.

Legal basis: Article 196 of the Criminal Law of the People's Republic of China and the People's Republic of China. Anyone who engages in credit card activities under any of the following circumstances and the amount is relatively large shall be sentenced to not more than five years or criminal detention, and A fine of not less than 20,000 yuan but not more than 200,000 yuan shall be imposed; if the amount is huge or there are other serious circumstances, the fine shall be not less than five years but not more than 10 years, and a fine of not less than 50,000 yuan but not more than 500,000 yuan; if the amount is particularly huge or there are other particularly serious circumstances If the circumstances are serious, the person shall be sentenced to not less than 10 years in prison or fined not less than 50,000 yuan but not more than 500,000 yuan, or his property may be confiscated:

(1) Using a forged credit card, or using a false identity certificate to fraudulently obtain the credit card. Credit card;

(2) Using an expired credit card;

(3) Pretending to use another person’s credit card;

(4) Malicious overdraft.

The term "malicious overdraft" as mentioned in the preceding paragraph refers to the cardholder's behavior of overdrafting beyond the prescribed limit or within the prescribed period for the purpose of illegal possession and failing to return the card after being called upon by the card-issuing bank.

Anyone who uses a credit card at the same time shall be convicted and punished in accordance with the provisions of Article 264 of this Law.

What will happen if the credit card is not paid?

An overdue credit card will usually have the following consequences:

1. Incurring overdue interest, liquidated damages and other fees: Overdue credit cards will start from Interest will be calculated from the day the card is swiped, usually a daily interest rate of 5/10,000, with compound interest calculated on a monthly basis; liquidated damages are generally 5% of the unpaid portion of the minimum repayment amount.

2. Bad credit records: After overdue, bad records will appear on personal credit reports, which will affect future loan applications.

3. You may face criminal liability: If you are overdue for a long time and the overdue amount is large, you may receive a payment reminder from the bank; if you still do not repay the debt after the bank reminds you, you may face criminal liability. Criminal liability.

In general, the impact of overdue credit cards is still relatively large. It is recommended that you make sure to repay on time.

If your credit card is about to expire or has already expired, it is recommended that you call the bank's customer service phone number in time, proactively explain the situation, find out whether you can apply for a deferment of repayment or a reduction of penalty interest, and repay it as soon as possible.

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This answer is provided by Kangbo Finance. Kangbo Finance focuses on interpretation of hot financial events and popularization of financial knowledge. It adheres to professionalism and pursues fun, and produces financial content that people can understand, using vivid and diverse methods. Deliver financial value. Hope this answer is helpful to you.

What is the worst possible outcome if your credit card is not paid?

The worst outcome is that you will be jailed if your credit card is not paid. You need to consider the overdue time, overdue amount, whether the overdue payment is malicious, etc. Judgmental.

1. For example, if a credit card is overdue for more than 3 months, receives two valid collections from the bank and fails to repay it, and maliciously overdrafts when unable to repay, the principal may be deducted if the principal reaches 50,000 yuan. If you use a credit card, the cardholder may be jailed and fined after the judgment, and the debt cannot be offset even if he is imprisoned.

2. As long as your credit card is overdue for more than three months, your credit report will be reported. During these three months, if you have been overdue for 6 or more times in total, you will be blacklisted by the bank and will not be able to get a bank loan or apply for a credit card again for five years.

3. There is another thing that has more serious consequences than overdue payment, which is overdue repayment for three consecutive months. The person will be regarded as a malicious debtor. This consequence is more serious than overdue payment, and he may even be punished. Litigation, so it must not be overdue for three consecutive months.

4. Generally, if a credit card is overdue for 30 days, the bank will send a text message to collect the debt. After 30 days, it will change to a phone call to collect the debt. If the debt exceeds 10,000 yuan and is overdue for three months, the bank will send a text message to collect the debt. If you can repay the debt, you can only wait for the notice.

5. So when we find that our credit card has been overdue, the first thing to do is to pay off the debt and penalty interest, and at the same time maintain a good consumption habit to ensure that your consumption will not be overdue again. situation. And because we were three months overdue and had a credit report, we should keep a good credit card usage record for more than two years. In this case, the bad records will be covered. After five years of good credit card use, our overdue credit card will be Bad records will also be cleared.

Overdue credit cards usually have the following consequences:

1. Incurring overdue interest, liquidated damages and other fees: Overdue credit cards will calculate interest from the day the card is swiped, usually 50,000 per day Interest is compounded on a monthly basis; liquidated damages are generally 5% of the unpaid portion of the minimum repayment amount.

2. Bad credit records: After overdue, bad records will appear on personal credit reports, which will affect future loan applications.

3. You may face criminal liability: If you are overdue for a long time and the overdue amount is large, you may receive a payment reminder from the bank; if you still do not repay the debt after the bank reminds you, you may face criminal liability. Criminal liability.

In general, the impact of overdue credit cards is still relatively large. It is recommended that you make sure to repay on time.

What will happen if you owe money on a credit card?

What will happen if you owe money on a credit card?

What will happen if you owe money on a credit card? Basically, every time you owe money on a credit card, what will happen? Everyone has it. With the development of the economy, credit cards have entered everyone's wallet. This consumption habit of spending first and paying back later has been accepted by people. Let's take a look at what will happen if you owe money on a credit card and related information.

What will happen if you owe money on a credit card 1

The consequences of not paying back the credit card debt:

1. The debtor should pay additional overdue interest and Liquidated damages.

2. The debtor’s personal credit report may have negative records.

3. It may be enforced after being arrested.

Legal Basis

Article 241 of the Civil Procedure Law of the People's Republic of China

The person subject to execution failed to perform legal documents in accordance with the execution notice The obligation to establish is to report the current status of the property as well as one year prior to the date of receipt of the execution notice. If the person subject to execution refuses to report or makes a false report, the people may fine or detain the person subject to execution or his legal agent, the principal person in charge of the relevant unit or the directly responsible person according to the seriousness of the case.

Article 242 of the Civil Procedure Law of the People's Republic of China

If the person subject to execution fails to perform the obligations specified in the legal document in accordance with the execution notice, the people have the right to file a complaint with the relevant party The unit inquires about the deposits, bonds, stocks, fund shares and other property status of the person subject to execution. The people have the right to seize, freeze, transfer, and change the value of the property of the person subject to execution according to different circumstances. The property that the people inquire, seize, freeze, transfer, and change value shall not exceed the scope of the obligation of the person subject to execution.

What will happen if you owe money on a credit card? 2

1. If the credit card is not repaid for a long time, the bank will charge you. If the principal is overdrafted by more than 10,000 yuan, and the bank collects it, you will still be charged. Those who fail to repay may be subject to criminal penalties. The legal basis is as follows:

According to the "Interpretation of the Supreme People's Procuratorate on Several Issues Concerning the Specific Application of Law in Handling Criminal Cases of Obstructing Credit Card Management" (Fa Interpretation [2009] No. 19):

Article 6 If a cardholder exceeds the prescribed limit or overdrafts within the prescribed period for the purpose of illegal possession, and fails to return the card for more than 3 months after being called upon twice by the card-issuing bank, it shall be deemed to be a "card holder" as stipulated in Article 196. Malicious overdraft." Malicious overdraft, the amount is more than 10,000 yuan but less than 100,000 yuan.

It should be determined as a "large amount" as stipulated in Article 196 of the Criminal Law; if the amount is more than 100,000 yuan but less than 1 million yuan, it should be determined as a "large amount" as stipulated in Article 196 of the Criminal Law. The amount is "huge"; if the amount is more than 1 million yuan, it shall be deemed as the "especially huge amount" stipulated in Article 196 of the Criminal Law.

The amount of malicious overdraft refers to the amount that the cardholder refuses to return or the amount that has not yet been returned under the conditions specified in the first paragraph. Excludes compound interest, late fees, handling fees, etc. charged by the issuing bank

2. Article 196 of the "Criminal Law" Under any of the following circumstances, if the amount is relatively large and credit card activities are carried out, a prison sentence of not more than five years shall be imposed Or, if the amount is huge or there are other serious circumstances, the fine shall be not less than five years but not more than 10 years, and a fine of not less than 50,000 yuan but not more than 500,000 yuan; if the amount is particularly huge or there are other serious circumstances, In particularly serious cases, a fine of not less than 50,000 yuan but not more than 500,000 yuan, or property confiscation may be imposed:

(1) Using a forged credit card, or using a false identity certificate Fraudulently obtaining a credit card;

(2) Using an expired credit card;

(3) Pretending to use another person’s credit card;

(4) Malicious overdraft of.

What will happen if you owe money on a credit card? 3

1. What will happen if you owe money on a credit card and cannot pay it back?

If you owe money on a credit card but cannot pay it off, what will happen? The following consequences:

1. High interest and late payment fees

Cardholders who do not repay their credit card will no longer enjoy the credit card interest-free period, and will be charged 10,000 yuan per day starting from the day of consumption. Five-quarters of interest, compounded monthly. A debt of tens of thousands of yuan will accrue thousands of yuan in interest within a few days. The longer the period, the higher the interest.

If the credit card interest-free period is exceeded and the payment is not made in time, the bank will charge the credit card holder a late payment fee. The ratio is 5% of the unpaid portion of the minimum repayment amount. After a certain period of time, the bank will charge the card holder a late payment fee. Charge higher penalties.

2. Personal credit stains

As long as you have applied for a credit card or a loan, you will know how important your personal credit record is. It will be difficult to apply for a credit card. This is not the most troublesome thing. The worst thing is that if you want to buy a house in the future and your credit is stained, the loan amount of the mortgage will be smaller than others, and the interest rate will be higher than others. If the application is seriously overdue, Even if you want to pay more interest rates, the bank will not lend to you.

3. Credit card suspended

If the credit card is not repaid, the bank will take back the revolving credit granted to the cardholder, and the credit card will be suspended. For repeated repayment arrears or long-term arrears of large amounts, the bank will consider the cardholder to have a higher risk of repayment, and will stop using the credit card and recover the arrears from the cardholder. This will cause the bank to encounter problems. If the credit card debt is still not repaid after collection, the bank may apply to auction the cardholder's other fixed assets.

4. Malicious debts will be punished

If the credit card debt is not repaid for more than three months, it will be regarded as a malicious overdraft, and the bank can initiate judicial proceedings. my country's criminal law stipulates that if a credit card overdraft exceeds 50,000 yuan, the debt is in arrears for more than 3 months, and the bank refuses to repay after three or more reminders, the judicial authorities will take corresponding measures (criminal detention for less than 50,000 yuan).

2. Amount requirements for suspected credit card crimes

According to the "Decision on Amending the Interpretation of Several Issues Concerning the Specific Application of Laws in the Handling of Criminal Cases Obstructing the Management of Credit Cards", malicious overdrafts If the amount is more than 50,000 yuan and less than 500,000 yuan, it is deemed to be a "large amount"; if the amount is more than 500,000 yuan but less than 5 million yuan, it is deemed to be a "huge amount"; if the amount is more than 5 million yuan, it is deemed to be a "huge amount". , determined to be “an extremely large amount”.

Nowadays, it is relatively common for people to use credit cards, but this way of premature consumption has also caused trouble for some people. In the process of using credit cards, some people fail to comply with the regulations of the country and the card-issuing bank, and consume excessively beyond their financial capabilities, causing life difficulties, and the credit card debt they owe cannot be repaid as agreed. In this case, what is actually required There are still many consequences, and if it is serious, it may even be deemed to constitute a criminal offense and be held criminally responsible according to law.

In contemporary society, almost everyone has a credit card, because their functions are very convenient. When we make purchases, we can use credit cards to make purchases, but credit cards are not It also has the function of overdraft in advance, which will lead to some people's estimation of themselves being inaccurate enough, so they cannot pay the payment, and they will face many serious consequences.

Let’s stop here to introduce what will happen if you can’t pay off your credit card.