Credit card bad debt is actually money that is in a sluggish state. If the overpayment in a credit card is not withdrawn, it will become bad debt over time, and if the overdue debt is not paid for a long time, it will also become bad debts.

Generally, overdrafts on credit cards that are overdue for more than 181 days (inclusive) can be considered bad debts. This means that the bank has called on the debt more than 6 times, but the cardholder remains indifferent. This situation The bank will set the account as bad debt.

If the amount of bad debt on your credit card is not large, the bank will report your credit record to the central bank, and your personal credit report will be seriously stained, making it very difficult to apply for a loan in the future. . If your credit card has a large amount of bad debt, the bank will sue you. If you don't repay the loan, the consequences will be very serious.

Among them, if the credit debt exceeds 10,000 yuan and is still not returned for more than 3 months after two collections by the card-issuing bank, it constitutes a crime of credit card fraud and requires criminal liability and a prison sentence. If it does not fall into the above circumstances, there will be no criminal liability and no jail time. However, no matter how much you owe, if you fail to repay it overdue, it will create a bad credit record, which will have a serious impact on your future credit card or loan applications.

Credit bad debt is a type of blacklist, but it does not completely represent a blacklist. "Bad debt" means that the user did not repay on time during the borrowing period, and after multiple collections after the overdue period, no results were obtained, and the lending institution finally gave up the collection process. Because in this case the debt has been in a sluggish state, it has become a well-known bad debt, and will basically have no connection with banking institutions in the future.

The fastest way to eliminate bad debts: Automatic renewal system: If the user has no objection evidence, he can only wait for the system to automatically eliminate bad records for you and the credit score will automatically return to normal without any violations. The automatic renewal time is between 5-7 years; objection update system: If the user has objection evidence, after a bad debt occurs, the user can apply for objection evidence, which can be eliminated after review by the People's Bank of China Credit Information Center. The processing time is Within fifteen working days.