What will be the consequences if no one pays for credit card debt for 8 years?

I believe many people know that overdue credit cards will have a great impact on everyone’s personal credit. In serious cases, there may be Bear certain criminal liability, so most people will repay on time after using credit cards, but there are still some cases where some users maliciously overdraft and then do not repay. Some netizens online said that they have not paid back their credit card debts for eight years, and there is no Bank collection, so what consequences does this situation have for users?

Usually once a credit card is overdue, the bank will collect money from the cardholder. If the collection fails from the cardholder himself, the bank will collect money from the cardholder’s relatives and friends. If there is no result, then for those with large arrears, the bank will come to collect the debt and take legal measures if necessary. Therefore, users who have not paid back their credit card debts for eight years and have not received collection from the bank should think carefully. Did the bank give up on collecting money from you, or did the bank fail to contact you because you changed your contact address and phone number, so you didn't receive a collection call from the bank?

If credit card users have important information to change, it is recommended that they contact the bank in time. Otherwise, if they accidentally overdue, they will not receive collection information from the bank, which will easily lead to an increasing amount of arrears. The overdue interest needs to be paid on the debt. If the credit card debt has been in arrears for eight years, the overdue interest must not be a small amount. Moreover, the bank has already reported the overdue behavior to the central bank's credit reporting system. In terms of personal credit reporting, A bad record has been left.

If a credit card user has not received a collection from the bank, do not take chances and think that you will not have to repay the loan. Overdue users should take the initiative to contact the bank staff when facing this situation, and talk to the bank staff. Negotiate repayment. If the user does not intentionally overdue, they can negotiate interest-free repayment, which can reduce their economic losses. I am here to remind everyone that you must keep your repayment date in mind and follow the regulations to avoid having many adverse effects on your life.