When using a credit card, you must repay the money on time. If it cannot be avoided, you must deal with it quickly, otherwise it will not be a joke to wait for the overdue debt to become a bad debt. What are the consequences of turning an overdue credit card into a bad debt? Here is a brief introduction to see if there are any solutions.

What are the consequences of turning an overdue credit card into a bad debt?

Under normal circumstances, an overdue credit card will not turn into a bad debt. However, if the cardholder’s phone cannot be reached after the expiration date, and the cardholder simply disappears, it is likely to become a bad debt after more than 3 months. It will be recorded on a person's credit report.

Credit card bad debts are far more serious than overdue debts. If there are bad debts in the credit report, the cardholder is equivalent to entering the bank's blacklist. Basically, it has nothing to do with any credit business, even the simplest credit card. You can't do it, you can't even get a loan, you can't get a loan, you can't apply for it, you'll be rejected 100% of the time.

Generally, banks will not write off bad debts, so as long as they are not repaid, they will not stop accruing interest. Cardholders will have to bear more and more fines and liquidated damages due to overdue payments. Each bank also has the right to recover at any time. As long as the cardholder can be contacted, it will collect money again, excluding the possibility of court prosecution.

If the cardholder maliciously avoids repayment and the principal amount owed reaches 50,000 yuan, the bank will prosecute him for credit card fraud. Even if you do not appear in court, the court will make a judgment in absentia, and the card holder will be included in the list of debt evaders and will be chased. In the future, let alone finding a job, it will be difficult to live a normal life.

There is only one solution, and that is to repay the overdue debt. Remember to contact the bank in time to modify the credit report. Only when the credit record changes from bad debt to overdue can the process be truly successful. The credit reporting system will definitely not be restored immediately, and it will take 5 years to eliminate overdue credit.