The new regulation for bad debts of Bank of Communications credit cards is that all card-issuing banks are required to upload customers' consumption and repayment records regularly and cannot be tampered with. Bad debts refer to receivables that have passed the payment deadline, cannot be recovered after collection, are in a sluggish state for a long time, and may become bad debts. Bad debts are the result of failure to clear accounts in a timely manner, and also refer to property that cannot be recovered because the other party does not repay it.

Bad debt is a term in the economic field, which refers to receivables that have passed the payment deadline, cannot be recovered after collection, are in a sluggish state for a long time, and may become bad debts. Bad debts are the result of failure to clear accounts in a timely manner, and also refer to property that cannot be recovered because the other party does not repay it.

The following situations can be recognized as bad debts

1) The borrower and guarantor declare bankruptcy, closure, dissolution or revocation in accordance with the law, and terminate their legal person qualifications. The financial enterprise shall be liable to the borrower and guarantor Creditor's rights that cannot be recovered after caricature recovery;

2) The borrower dies, or is declared missing or dead in accordance with the provisions of the "General Principles of the People's Republic of China and Civil Law", and the financial enterprise shall claim its property according to law Or the debt that cannot be recovered after the estate is paid off and the guarantor is pursued;

3) The borrower suffers a major natural disaster or accident, suffers huge losses and cannot obtain insurance compensation, or is compensated by insurance Afterwards, it is indeed unable to repay part or all of the debt, and the financial enterprise has paid off its property and pursued the guarantor, but the creditor's rights cannot be recovered;

4) Although the borrower and the guarantor have not declared bankruptcy in accordance with the law , closed, disbanded, revoked, but has completely stopped operating activities, has been canceled or revoked by the industrial and commercial administration department at or above the county level in accordance with the law, and has failed to recover the creditor's rights after the financial enterprise has pursued repayment against the borrower and guarantor;

5) Although the borrower and the guarantor have not declared bankruptcy, closure, dissolution, or cancellation in accordance with the law, they have completely stopped business activities or their whereabouts are unknown, have not registered with the industry and commerce, or have not participated in the annual industrial and commercial inspection for more than two consecutive years. Creditor's rights that a financial enterprise cannot recover after pursuing repayment from the borrower and guarantor;

6) The borrower has violated criminal laws and been sanctioned in accordance with the law, and his property is insufficient to repay the borrowed debt, and he has no other debt responsibilities , a creditor's right that a financial enterprise cannot recover after repayment;

7) Because the borrower and guarantor cannot repay the due debt, the financial enterprise resorts to law and the court enforces the borrower and guarantor. Neither the borrower nor the guarantor has property to enforce, and the financial enterprise still cannot recover the creditor's rights after the court rules to terminate, terminate or suspend execution;