Credit card is an important way for many people to cash out at present, but as shown in the following figure, we can see that in recent years, the overdue amount of credit card is increasing and the growth trend is getting faster and faster. What will the bank do after the credit card is overdue? If the arrears are long enough, won't the bank directly give up the collection?

Generally speaking, after the credit card is overdue, the bank will send a text message to collect it first. The SMS collection failed, and the customer service staff called for it. If the customer service collection still has no result, it will enter the third procedure, and the local staff will come to collect it. For example, if your card is processed in Xiamen, employees of Xiamen Branch of the Bank will pick it up at the reserved address. After the bank's own collection method fails, the general bank will outsource the collection and entrust a third party to collect it (entrusting a third-party bank actually loses part of the proceeds to a third party, and the third-party bank will extract it according to the collection performance).

have no other choice but

If you are really a dead mouse and feel cold, even the third party can't help you, then the overdue credit card is basically treated as a bad debt. There are three ways to deal with bad debts:

1. Small funds: If the amount of funds is very small, such as several hundred yuan, two or three thousand yuan, and the cost of suing you is even higher than the overdue amount, many banks will directly give up the lawsuit, stop charging you money, and directly write it off as bad debts, reducing the profits of the year. Although you don't have to pay it back and no one is looking for you, your bad debts will always be on your personal credit report and follow up. 2. Large amount of funds: If the amount of funds is large, such as tens of thousands, hundreds of thousands or even hundreds of thousands of yuan, it is obviously impossible for banks to directly close their accounts. In this case, the bank normally collects materials, hires relevant lawyers, and solves your debt problem through court prosecution. There is no need to be sued by the bank for worrying about overdue credit cards, and I have been living in the shadow of "prosecution". Because the bank is not so free, it depends on whether your bill is eligible to be sued by the bank.

3. Asset transfer: Asset transfer is not applicable to personal loans. If it is a corporate loan, if banks feel that they can't get it back even if they are sued by the court, or if they are still sued, many banks will package these non-performing assets into non-performing asset packages and sell them to asset management companies at low prices.

abstract

There is also a situation where there is no collection, that is, when the bank can't contact you, whether it is through your reserved phone number, reserved address or emergency contact, there may be no collection; But your situation should not be like this, because the note says that ten banks are still urging peace, so your biggest probability is that the amount is small or the bank is preparing the prosecution materials. Either way, your personal credit is basically used up, so credit card consumption is still within your tolerance.