Will the bill man be forced to deduct money if he is overdue for five years?
Yes If the bill payer is overdue for five years, it will be forced to deduct money. In case of overdue payment, there is not only a late payment fee of 5% of the minimum unpaid part, but also a full penalty interest on the bill (the daily interest rate is 0.5 ‰, and the interest is recovered monthly until the principal and interest are paid off). There will also be a bad credit record in the Credit Information Center of the People's Bank of China, and it will be difficult to apply for credit cards and bank loans within five years.