My loans and credit cards are all overdue, and now I can’t pay back even a cent. Will I go to jail? Going to jail is definitely not what the creditors will see, because then there will be even less hope of repayment. Therefore, if all loans and credit cards are overdue, as long as the funds are used reasonably, no fraud is involved, and the debt collection calls from the bank are reasonably responded to, you should not go to jail. Going to jail restricts your freedom. Only the People's Court has this right. Banks and creditors do not have this right, but they can apply through the court. Of course, the People's Court is a place where matters are handled in accordance with the law. If it is just a debt dispute, If your loan debt is used for normal daily business activities, the court will not sentence you to jail. If the payment is overdue, the bank will call you for repayment, and you must answer the bank's phone call. Many friends think that my credit card loan is overdue and it will be difficult to repay it. So they refused to answer various debt collection calls from the bank, and some even shut down their phones and changed their cards to avoid calls from the bank. If the bank cannot contact you personally for a long time, then the bank will have reason to think that you are committing fraud and you are defrauding people of loans, and they will have reason to sue you in court. Even if you change your phone number, it will be of no use, because the real identity information you left when you took out a loan or applied for a credit card will be easy for the court to find you. Therefore, answering the bank's phone number indicates that you have not lost contact and are still in contact with the bank.
When you answer the phone from the bank, explain the actual situation and show that it is not enough yet, and your attitude should be neither humble nor overbearing. Some people think that I am not afraid of being scalded by boiling water. I have tit-for-tat confrontations with bank debt collectors, and have back-and-forth. This is actually not good. Another way is that I owe you money, and I immediately humble myself like a grandson and beg my grandfather to sue my grandma. This is not good either. The best way is to explain your current predicament and ask the bank if there are other solutions. Of course, you cannot trust the debt collector's words entirely. After all, their positions are different from yours. You can express your attitude and want to repay the debt, but in this situation you just can't. This is a matter of attitude.
Some people say that there is no benefit to this, and the bank will not forgive the debt. That's natural. A bank is also an enterprise. If you don't receive interest on the money you lend, it's already a loss. If the principal is gone, it's a serious loss. This is definitely not what they are willing to accept. But just because they are not willing to lose even their principal, they will also find other ways, such as giving a buffer period, paying interest first, paying off the principal in installments, etc. If you continue to fail to cooperate, the bank will sue you in court, and your house and other property may be auctioned off. If you do not have property or other assets and cannot be contacted, you may be arrested by the court on suspicion of fraud, which is serious. Not only was his credit record ruined, his life was also stained. You always have to pay back the money you owe, so the most important thing to solve now is the issue of financial resources. If you used to run a business, but now the business has declined or is not making money, you need to quickly change direction and change your business thinking. Or find a job quickly and repay slowly, so that the bank can see your efforts to solve the repayment, which will make it easier to handle. Lest the house be auctioned or go to jail, you will regret it.