Unlike many illegal online loans, credit cards are initiated and protected by law. All credit card policy rates are in compliance with legal regulations and are subject to the supervision of the China Banking Regulatory Commission. Therefore, if the cardholder fails to repay the credit card overdue, the bank will usually sue the cardholder for repayment, and the cardholder will bear legal liability.

1. Consequence 1: Harassed by debt collection

Those who owe money to others cannot avoid being harassed by debt collection, and those who owe money to banks are no exception. Legal Express will summarize the bank's collection process, and let debtors know how far they are from assuming legal liability due to overdue repayment.

(1) The first step is to notify by phone. The first few phone notifications will usually be made by the credit card customer service center customer.

(2) If the collection is unsuccessful, the card issuing bank will entrust the collection business to a third party, and a third-party specialized collection company will handle the collection. The method is to send text messages, bombard phone calls, and even door-to-door collection. But it is a bank after all, and it will not let the collector do anything too outrageous.

(3) If the cardholder still fails to successfully repay the loan. Then the legal department of the card issuer will intervene and collect the money from the cardholder by filing a lawsuit in court.

2. Consequence 2: Sued by the bank

(1) The cardholder’s personal credit report has been added to the blacklist, and it will definitely not be possible for a long time to come. Then handle any bank-related credit business.

(2) Every cardholder will receive a summons from the court, and the court will also assist the bank in collection. However, the court will not directly make the card holder bear the corresponding legal responsibility. It will first investigate the card holder and carry out corresponding persuasion work to urge the card holder to repay. If the cardholder still refuses to repay and does not come up with a specific repayment plan, the court will enforce it.

(3) Enforcement means that if the cardholder has assets, the cardholder’s assets will be used to liquidate the card holder’s assets to cover the credit card debt owed. Such as querying, freezing, and transferring the deposits of the person being applied for execution, sealing, detaining, auctioning, and selling off the property of the person being applied for execution, etc. However, when these measures are taken, the necessary living expenses of the person subject to execution and his dependent family members will be retained.

3. Consequence 3: jail time and fines

Generally speaking, if a credit card is overdue for more than 3 months, it can be regarded as being caught and fined for malicious overdraft of the credit card and suspicion of credit card fraud. But will I definitely go to jail if my credit card is overdue? uncertain. Sometimes it depends on the repayment attitude and sincerity of the cardholder.

If the debtor communicates well with the bank staff, admits that he did not intentionally fail to repay, repay part of the principal first, and develop a reasonable repayment plan, then the probability of being caught for malicious overdraft will be eliminated. Very small.

Another possibility of being caught is that if you still fail to repay the loan in accordance with the judgment after the court's judgment, you will violate the crime of refusing to execute the judgment or ruling stipulated in Article 313 of the "Criminal Law": against the People's Court's Anyone who has the ability to execute a judgment or ruling but refuses to execute it, if the circumstances are serious, shall be sentenced to fixed-term imprisonment of not more than three years, criminal detention, or a fine; if the circumstances are particularly serious, he shall be sentenced to fixed-term imprisonment of not less than three years but not more than seven years, and shall also be fined.

Therefore, if you encounter late repayment or even no ability to repay within a certain period of time. You should negotiate with the bank, explain your specific situation clearly, express your determination to repay, and re-negotiate with the bank to work out a repayment method that suits your current situation. Never maliciously fail to repay when due or even maliciously default on payment at any time.

Because it is not said that you will bear legal responsibility and pay late fees and penalty interest, your personal credit report will be blacklisted, which will bring a lot of inconvenience.