If the execution is property, it is not illegal, but if there is unauthorized direct deduction in the bank, it is definitely illegal.
The consequences of ABC's credit card forgetting to repay;
1. Late payment fee: usually 5% of the overdue amount.
The so-called credit card late payment fee refers to the fee that the cardholder should pay to the issuing bank in accordance with the regulations when the repayment date is not due or the repayment amount is lower than the minimum repayment amount.
2. In case of overdue interest, it shall be charged at the rate of 0.5 ‰ of daily interest.
After the user overdraws by credit card, the longest interest-free repayment period is about 50 days. If the cardholder fails to pay off all the overdraft fees within the specified time limit, then the cardholder will no longer enjoy the interest-free treatment of the Agricultural Bank of China for all the fees last month, and the circulating daily interest rate is as high as five ten thousandths, that is, the annual interest rate reaches 18%.
3, may bring litigation costs.
If the user overdraws for 2 months without repayment, the Agricultural Bank will call to remind the user to repay. If you don't repay, ABC will find a lawyer to send a lawyer's letter to the user. Malicious overdraft of credit cards, which is not returned after being collected by ABC, will constitute the crime of credit card fraud.
4. Bring bad credit records. The overdue repayment of ABC's credit card will be recorded in the central bank's credit information system. At present, the basic database of personal credit information has been networked nationwide. As long as individual residents have handled the loan business in the Agricultural Bank, applied for a credit card, or provided guarantees for others, credit reports can be found in any commercial agricultural bank in China.
Bad records can only affect personal loans for the time being, but with the improvement of the credit information system, it may also affect cardholders' job selection and all aspects of life. Generally speaking, the valid range of bad records is 5 years, however, this time is calculated from the date when the cardholder pays off the debt.