consequences of overdue
1. Impact on credit reporting
This is mainly aimed at. In addition to banks, many consumer finance and licensed small loan companies have access to the central bank's credit information, so when applying for such products, they will not only check the credit information, but also check the credit information after the deadline.
2. Penalty interest
Once all credit products are overdue on the first day, penalty interest will be calculated, and the longer the overdue period, the more penalty interest will be.
3.
Banks and financial institutions will also collect money, mostly by telephone. Although it is not as violent as private loans, it will also have a certain impact on life. If the overdue amount is too large, you may be sued. As long as the evidence is conclusive, the court will freeze the assets in your name and sell them to pay off debts, and even may be blacklisted.
What should I do if my credit card is sued after it is overdue?
Pay off the debt in time, and the other party will withdraw the lawsuit. If there is really no money to pay back and the bank does not agree to negotiate, I will go to court. Generally, the court will arrange for both parties to negotiate first. At this time, the bank will usually agree to negotiate. After all, the cardholder is really unable to repay, either in full or in incremental installments. The cardholder can choose the scheme that suits him, or continue to negotiate with the bank, such as stopping interest and paying the bill.
Will you go to jail if you owe a credit card?
1. If you owe a credit card and don't sue in the bank, you may not go to jail, which depends on the specific situation.
2. If the credit card is not repaid at maturity, it is a breach of contract in civil law, and the debtor should bear the corresponding liability for breach of contract according to the terms of use of the credit card.
3. Under normal circumstances, if the credit is overdrawn with malicious intent for more than 5, yuan, and the cardholder takes illegal possession for the purpose, and fails to return it for more than 3 months after being urged twice by the issuing bank, criminal responsibility shall be investigated for the crime of credit card fraud.
How to make up for the overdue credit card
When our credit card is overdue, we must never cancel the account. Some people may think that as long as we no longer use this credit card, we don't have to pay back the money, and there will be no bad credit. In fact, this is not the case. The credit record does not follow your credit card, but follows you. Therefore, when we are overdue, we should pay back the arrears in full as soon as possible and continue.
legal basis
article 147 of the civil procedure law
if the defendant refuses to appear in court without justifiable reasons after being summoned by summons, or withdraws from court without the permission of the court, he may make a judgment by default.