Credit card bad debts are receivables that may become bad debts of banks. It still depends on the users themselves, and it does not mean that bad debts will be prosecuted.

Being a bad debt means that this debt has passed the repayment period, and it can't be recovered after being urged. It is in a state of sluggishness for a long time, and the possibility of urging it back is extremely small. The bank will prepare and write off the debt here according to regulations.

the write-off of bad debts must follow the principles of strict identification conditions, providing conclusive evidence, seriously investigating the responsibility, reporting, reviewing and approving door-to-door and step by step, keeping secrets from the outside world, and keeping accounts on file.

Extended information:

If the cardholder fails to repay the overdraft beyond the last repayment date (excluding the current day), it will be deemed overdue. The Bank has the right to adjust the credit limit of the cardholder, freeze the cardholder's credit card account, restrict transactions, announce the overdraft (loan) to expire ahead of schedule, stop using the card (except electronic cash), and at the same time, it can take back its credit card by itself or authorize relevant units;

the cardholder shall bear the relevant expenses (including but not limited to legal fees, attorney's fees, appraisal fees, evaluation fees, auction fees and other expenses arising from the realization of creditor's rights) and losses caused by the bank's collection of arrears and exercise of rights. If the cardholder's credit record is affected due to his failure to repay the loan on time, the cardholder shall bear it by himself.

the cardholder shall repay the arrears within the repayment period specified by the bank and agree that the bank can collect the arrears from the cardholder by letter, SMS, email, telephone, door-to-door, announcement or judicial channels.

If the cardholder still fails to pay off his debts after being urged by the Bank, the cardholder agrees that the Bank may choose to take or take the following measures at the same time:

Stop using the card (except electronic cash); Stop the cardholder from using all credit cards (except electronic cash); Exercise the security right (if any); Deduct it directly from any account opened by the cardholder in any branch of Minsheng Bank. The relevant expenses incurred by the Bank due to the cardholder's collection of arrears and prior creditor's rights shall be borne by the cardholder.

Baidu Encyclopedia-Bad debts

Credit card (personal card) collection contract between China Minsheng Bank and China Minsheng Bank.