Products are determined by market demand. The increase in the issuance of credit cards shows that ordinary people are still relatively short of money. Next, there is the issue of overdue credit card payments. Debt is a given. So if you don’t have money to pay back, what impact will it have on yourself and your family?

1. Late payment on a credit card will result in a fine of five times a day, calculated with monthly compound interest. Some cardholders don't take this fine seriously, thinking that the money they owe is not much and there is not much interest. In fact, credit card penalty interest is a "interest compounding" model, and it will increase more and more in a short time. The amount of credit card arrears is 50,000 yuan. Depending on the seriousness of the case, it may also be involved in credit card fraud.

In fact, credit cards are called advanced consumption. To put it bluntly, they are borrowing money, but this money can be borrowed at any time. The longer interest-free period is generally about 50 days, so many people only focus on spending money and ignore the issue of repayment. Many people even take chances: spend it first this month and pay it back next month after their salary is paid. But in fact, this month’s salary is not enough, and next month’s salary will not be used to repay the money. So procrastination is a matter of time.

2. Situations that affect family members who have not repaid their debts in the hands of the credit card holder will be defined as "Lao Lai". If we restrict high consumption, we will no longer be able to make large purchases. The cardholder's capital account will also be frozen, and as long as money enters his account, it will be forcibly deducted.

If the person subject to breach of trust is married and cannot repay the credit card debt, and the husband and wife repay the debt together, it will also increase the family's life pressure, which will also indirectly affect their own family. . The cardholder is on the list of "bad trustworthy persons". If their children want to take the civil service examination, if their parents become the ones subject to execution for breach of trust, their children's political review will be affected. A colleague of the author encountered such a case in the course of work. The adults were all old people, but the child failed to pass the political review.

3. On the Lao Lai List. If your credit card is overdue and you are sued by the court and you are identified as a "Lao Lai", you will be the person subject to the restriction of high consumption. After the consumption is restricted, you are not allowed to take the following actions: (1) In terms of transportation, choose second-class or above cabins on airplanes, trains, and ships; (2) high-consumption places such as star-rated hotels, hotels, nightclubs, golf courses, etc.; (3) purchase real estate or build, expand, or high-end decorated houses; (4) Renting high-end office buildings, hotels, hotels, nightclubs, golf courses and other high-consumption places; (5) Purchasing vehicles not required for business; (6) Traveling and vacationing; (7) Children attending high-fee private schools; (8) Payment Purchasing insurance financial products with high insurance premiums; (9) Taking all seats on G-EMU trains, first-class or above seats on other EMU trains, and other consumption behaviors that are not required for life and work.

4. If you can no longer borrow a credit card after it is overdue, try to pay it off as early as possible before it is too late. If a cardholder has "three in a row", overdue repayment for 3 consecutive months, or a total of 6 overdue repayments, the bank will define him as a high-risk loan group and be directly included in the "blacklist" of the banking system, and his personal credit record will be affected. Basically, it's a "black account". This group of people can no longer apply for mortgage loans. Naturally, if you can't pay off your credit card debt, I'm afraid you won't be able to pay the down payment on your home loan or car loan either. There may be no hope of buying a house in this life, unless it is a sudden windfall, but this possibility is too small.

How to pay off the overdue credit card? There are four suggestions:

1: Use your own network of relationships, such as relatives, friends, parents, etc. What is borrowed is the principal. So I took the initiative to call the bank to negotiate to see if the interest and liquidated damages incurred during the overdue period could be exempted, and then pay off the cancellation in one go.

2: Negotiate with the bank to pay off slowly or slowly in installments with low interest rates to reduce the pressure of repayment, stop stressful collections, and avoid prosecution.

3: Take advantage of all your time to work or part-time to increase your income.

4: If the bank does not agree to the installment and you have sufficient repayment ability, you can entrust a professional agency such as Shenyang Transportation Law to handle it.