Many young people open many credit cards, overdraw a lot, and then don't pay them back.
Now answer the subject's question: what if there is no credit card?
If the repayment is overdue for more than 6 times or 1 time, it will be blacklisted by the personal credit information system of the People's Bank of China (national network), and it will be impossible to apply for credit cards and loans if it is blacklisted. Even if the principal and interest of the credit card are paid off, it will take five years to clear the account.
If the bank collection is invalid, it will generally go to court to sue. The credit card contract clearly stipulates that if the overdue lawsuit is violated in the future, the bank's lawyer's fee will be borne by the overdraft part. Due to the failure to repay the overdraft, it lost almost 100% after being sued. At this time, in addition to overdraft principal interest, there are also liquidated damages, legal fees, bank attorney fees and so on. And the amount is much larger than the original; If you don't pay back the money, it will be enforced, and the property under your name will also be investigated and executed. If the execution fails, the party concerned will be detained and fined, and will be included in the blacklist of those who have lost their trust and restrict high consumption. At this time, it will be extremely difficult for the parties to start a business.
According to the Supreme People's Court and the Supreme People's Procuratorate's Interpretation on Several Issues Concerning the Specific Application of Laws in Handling Criminal Cases of Impairment of Credit Card Management, the following six acts are "for the purpose of illegal possession":
For the purpose of illegal possession, if it can't be returned after more than two effective reminders, it will be overdrawn in bad faith, and the amount will be more than 50,000 yuan but less than 500,000 yuan, which shall be deemed as' large amount' as stipulated in Article 196 of the Criminal Law (sentenced to fixed-term imprisonment of not more than five years or criminal detention); If the amount is more than 500,000 yuan but less than 5 million yuan, it shall be deemed as' huge amount' as stipulated in Article 196 of the Criminal Law (sentenced to fixed-term imprisonment of not less than five years but not more than ten years, and fined not less than 50,000 yuan but not more than 500,000 yuan); If the amount is more than 5 million yuan, it shall be deemed as' extremely huge' as stipulated in Article 196 of the Criminal Law (sentenced to fixed-term imprisonment of not less than 10 years or life imprisonment, and fined not less than 50,000 yuan but not more than 500,000 yuan or confiscated property).
I'm Jason's mother.