It’s true. If you don’t repay the loan for more than three months, the bank will consider filing a lawsuit directly with the court, and the overdue behavior must have been entered into the credit reporting system. If the bank’s debt collection fails, it may send someone to collect the loan. At the same time, The bill will also generate a penalty, and the account will also face the risk of being frozen.

No matter how many days overdue, the first thing to do should be to pay off the debt as soon as possible. After paying off the debt, you need to maintain a good credit record. The record will not be eliminated after 5 years.

1. Consequences of different credit card overdue times

1. Credit card overdue for 3 days

The impact of a credit card overdue for 3 days is not very big, because first of all, many banks There will be a time tolerance service that will provide credit card holders with a grace period for repayment. The grace period is basically about 3 days.

If you are overdue for 3 days and are still within the repayment grace period, then you will not be subject to a credit report after repayment, and no interest will be charged; if it exceeds the repayment grace period, because the overdue time is short, So the impact is basically to pay some penalty interest.

2. Credit card is overdue for 30 days

If a credit card is overdue for 30 days, the impact will be more serious. Many banks will report it to the credit report if it is overdue for 30 days. Of course, some banks are overdue. The credit report will be reported one month later. Being overdue for 30 days has a considerable impact on personal credit. And you also need to pay 30 days of penalty interest.

3. A credit card is overdue for 90 days.

If a credit card is overdue for 90 days, the bank can sue the cardholder, and a credit report will be filed for 90 days overdue, which will cause damage to the credit. The extremely negative impact will not only be blacklisted by the bank, but also blacklisted by the court as a dishonest person.

And the bank will continuously collect the money, and there will also be overdue penalty interest. The penalty interest will also be charged with compound interest for 2 months.

2. Solutions to overdue loans

1. Early repayment

Although lending institutions begin to deal with bad debts for loans that are overdue for 90 days, but the loan People can still repay the debt and avoid being taken to court and having their reputation harmed.

2. Take the initiative to negotiate with the lending institution

The lender must actively cooperate with the lending institution to negotiate repayment matters and cannot avoid repayment. Generally, the lending institution will be willing to negotiate with the lender after the overdue payment. For example, part of the penalty interest can be waived, or the lender can be repaid in installments.

3. Maintain a good credit record

After repaying the debt, the lender must maintain a good credit record. The bad record will be automatically eliminated after 5 years. In addition, except for home loans, most credit records will be eliminated. Some loans only refer to credit history within two years.