Many people think that failure to repay credit card debt will not only incur penalty interest, liquidated damages, and affect credit, but there will be no big problem if the principal of the debt does not exceed 50,000. However, in fact, the consequences of defaulting on credit cards are more than that, and some people even have their debts limited. No, you can’t take the high-speed train or plane, and you can’t leave the country. So, how much debt will be required to be capped? Is there any way to undo it? Let’s take a look.

In fact, the limit on how much you owe on a credit card has nothing to do with how much money you owe. We know that the so-called height limit refers to being restricted from high consumption, and it is a credit penalty imposed on lao lai. Usually, only those who resist, evade execution, and refuse to perform obligations effective in the court will become lao lai. There is no limit on the amount of money a lao lai owes. No matter how much he owes, as long as he has the ability to repay the money but fails to repay, he may become a lao lai. For example, if you fail to repay your credit card debt and are sued by the bank to the court, the cardholder will be able to repay the loan after the court's ruling. However, if you do not fulfill your repayment obligations according to the court's ruling, even if you owe 100 yuan, the bank may apply to the court for a demand. If the cardholder is added to the list of dishonest persons subject to enforcement, the cardholder will be a deadbeat, waiting to be capped. Of course, this is just a hypothesis. Banks will not sue cardholders easily. Most banks will only use various collection methods to get cardholders to repay. And if you owe too much on your credit card and it is overdue for a long time, for example, if the principal of the debt exceeds 50,000, and you do not repay it for 3 months, or if you do not repay it after two effective collections by the bank, being sued will not only be as simple as becoming a bad debtor. , serious cases will be investigated for criminal liability.

So, how to lift the height limit? After the credit card debt is limited, the cardholder will be prohibited from taking planes and trains, and will not be able to obtain loans or apply for credit cards at financial institutions. Existing credit cards will be frozen, the assets under his name will be enforced, and he will be restricted from leaving the country. Once you enter the country, even your family members will be affected. Your children will not be able to study in higher private schools, and they will not be able to pass the political review for entrance into public institutions, etc. There is only one way to relieve the debt, which is to apply to the court for a relief after fulfilling the court's judgment and paying off the credit card debt, which usually takes about a month.