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What will happen if you default on the credit card negotiated repayment?

1. The interest rate that has been suspended will be restarted. Generally, interest is calculated based on the full amount of all arrears before the negotiated repayment, including principal interest, with a daily interest rate of 0.05%, and liquidated damages will also be charged again. It is calculated once a month, and compound interest is also calculated on a monthly basis. Set a time limit to pay off the entire debt at once.

2. Debt collection will make a comeback. Originally, after the repayment was negotiated, there would be no more collections, but after the default again, the collections would intensify. They would make phone calls every day, and even go to the home and company to block people. Don't even think about having a clean day.

3. The bank will directly go to court to sue. Go to the cardholder to recover the money through judicial channels. If the principal of the debt is 50,000 or more, be careful. This is not a simple economic dispute. It does not mean that it can be solved by paying back the money. Once the court makes a ruling, there is a high probability that it will be resolved. Jiuhui will pursue criminal responsibility.