If the bank sues, you may go to jail. The main legal consequences of not repaying your credit card debt are:
1. High overdue interest will be incurred.
2. The bank will sue you in court, and you will incur economic losses such as litigation costs and attorney fees.
3. Individuals will have bad credit records, which will have an impact on future bank cards and loans.
4. If the amount owed exceeds 10,000 yuan, it constitutes a crime of credit card fraud and will be held criminally responsible.
1. Solutions to overdue credit cards:
1. As a credit card holder, once you are unable to repay the loan on time due to unemployment, illness or other accidents, you will have to pay it back in the end. Before the payment period arrives, cardholders are advised to proactively call the bank's credit card center to state their financial situation, affirm that they do not owe money maliciously, and apply for delayed repayment and interest discounts.
2. In view of the cardholder’s active performance and previous good credit record, the bank will often agree to defer the repayment, and will work with the cardholder to agree on a mutually acceptable repayment plan, delay period, and interest discount. , monthly repayment amount, etc. In this way, if you proactively contact the bank and get the bank's consent to postpone the repayment, you will not be recorded as a bad record. However, it should be noted that you must ensure that you repay as agreed in the future.
3. If you forget to repay due to negligence, you must repay the loan as soon as possible after it is overdue, preferably in full. Then call the bank's credit card center and state that the debt is not malicious. If the record has been good in the past and the overdue time is short, and it is found that the repayment is good after the overdue period, it may not be recorded as a bad record. Don't be careless in the future. Be sure to pay attention to the bank's bill notifications and collection information to avoid overdue payments.
4. Credit card repayment information will be recorded by the central bank's credit reporting system on a rolling basis for 24 months. That is to say, bad credit records caused by overdue credit card repayments will be kept in the credit reporting system for two years. If terminated with a card, the corresponding records will no longer be scrolled, but will be saved for a long time. Therefore, after overdue repayment of a credit card, it is best not to cancel the credit card immediately after paying off the debt. Instead, you should insist on using the card for more than two years and keep your credit in good condition during the period. In this way, you can rely on rolling records to remove bad records from your credit report. Remove it from the system.
Legal basis:
Article 196 of the Criminal Law of the People's Republic of China
Carry out credit card fraud under any of the following circumstances If the amount is huge or there are other serious circumstances, the sentence is to be not less than five years but not more than 10 years of fixed-term imprisonment or criminal detention, and a fine of not less than 20,000 yuan but not more than 200,000 yuan; If the amount is particularly huge or there are other particularly serious circumstances, the sentence shall be not less than 10 years in prison or life imprisonment, and a fine of not less than 50,000 yuan but not more than 500,000 yuan, or property confiscation:
(1) Using a forged credit card, or using a credit card fraudulently obtained with false identification;
(2) Using an expired credit card;
( 3) Fraudulent use of other people’s credit cards;
(4) Malicious overdraft. The term "malicious overdraft" as mentioned in the preceding paragraph refers to the cardholder's behavior of overdrafting beyond the prescribed limit or within the prescribed period for the purpose of illegal possession and failing to return the card after being called upon by the card-issuing bank. Anyone who steals a credit card and uses it shall be convicted and punished in accordance with the provisions of Article 264 of this Law.