Generally speaking, a father's credit card debt is a personal civil act and will not involve his children. The children do not have any responsibility or obligation to repay the credit card debt for their father. However, if the father is sued by the bank for not paying back his credit card and is included in the list of dishonest persons, it will affect his children's access to good private schools.

According to the "Several Provisions of the Supreme People's Court on Restricting High Consumption of Persons Subject to Execution":

1. If the parents are dishonest persons subject to execution, their children's education will be restricted, and they can also attend school. in high-fee private schools.

2. In the enrollment policies of private schools in some cities, it is clearly stated that private schools must restrict children with dishonest behavior from attending high-fee private schools, and those who have already enrolled must immediately transfer to public schools.

3. It affects the employment of children. When children are admitted to civil servants, public institutions, or jobs in large enterprises, they may be turned away because their parents' credit scores are seriously poor.

4. In addition, some schools that require political review for students may also reject the children of dishonest persons.

1. Will credit card cancellation affect personal credit report?

1. Credit card cancellation will not affect personal credit report.

2. Users no longer need a credit card, so they can naturally handle account cancellation. The account cancellation record does not constitute a bad credit record.

3. Only overdue records or records of violations of laws and disciplines are considered bad credit records, and only such records will affect personal credit reporting.

4. As for credit card records and loan records, they are all part of the personal credit report.

5. After successfully canceling the credit card account, the user can apply for a credit card again. As long as there is a certain period of time, the user can enjoy the benefits of new users.

2. What will happen if the credit card is overdue?

1. High interest and late fees

(1) If the credit card is not repaid, the cardholder will You will no longer enjoy the credit card interest-free period. Interest will be charged at 0.5% per day starting from the day of consumption, and compound interest will be calculated on a monthly basis. A debt of tens of thousands of yuan will accrue thousands of yuan in interest within a few days. The longer the period, the higher the interest.

(2) If the credit card interest-free period is exceeded and the credit card is not repaid in time, the bank will charge the credit card holder a late payment fee, the proportion of which is 5% of the unpaid portion of the minimum repayment amount. After a certain period of time, the bank will charge Cardholders are charged higher penalty rates.

2. Personal credit stains

As long as you have applied for a credit card or a loan, you will know how important your personal credit record is. It will be difficult to apply for a credit card. This is not the most troublesome thing. The worst thing is that if you want to buy a house in the future and your credit is stained, the loan amount of the mortgage will be smaller than others, and the interest rate will be higher than others. If the application is seriously overdue, Even if you want to pay more interest rates, the bank will not lend to you.

3. Credit card suspended

If the credit card is not repaid, the bank will take back the revolving credit granted to the cardholder, and the credit card will be suspended. For repeated repayment arrears or long-term arrears of large amounts, the bank will consider the cardholder to have a higher risk of repayment, and will stop using the credit card and recover the arrears from the cardholder. This will cause the bank to encounter problems. If the credit card debt is still not repaid after collection, the bank may apply to auction the cardholder's other fixed assets.

4. Malicious debts will be punished

If the credit card debt is not repaid for more than three months, it will be regarded as a malicious overdraft, and the bank can initiate judicial proceedings. my country's criminal law stipulates that if a credit card overdraft exceeds 50,000 yuan, the debt is in arrears for more than 3 months, and the bank refuses to repay after three or more reminders, the judicial authorities will take corresponding measures (criminal detention for less than 50,000 yuan).

Parents who owe credit cards will affect their personal lives, but if their parents are included in the credit blacklist, they will be restricted from high consumption in the future, which will have an indirect impact on their children, because if their children are It is not allowed to attend an aristocratic school. After the due date, the cardholder needs to pay high overdue penalty interest, liquidated damages, etc.

Legal Basis

"The People's Republic of China and the Civil Code"

Article 1161 The heir shall be limited to the actual value of the inheritance received Pay off the taxes and debts that the deceased should pay according to law. This does not apply to the amount that exceeds the actual value of the estate and is voluntarily repaid by the heirs.

If the heir gives up the inheritance, he will not be liable for the taxes and debts that the deceased should pay according to law.