With the development of science and technology, the Internet and smartphones have entered people's lives, which not only brings convenience, but also makes people "trapped in the quagmire". The concepts of advanced consumption and high-end consumption are deeply rooted in the hearts of the people. More and more people are "trapped" by various credit products such as credit cards, resulting in a gradual decrease in personal savings and a significant increase in debt ratios.

Relevant data shows that the total debt of Chinese residents has reached more than 200 trillion yuan. And according to the "China Youth Debt Situation Report" released by Nielsen, the average debt-to-income ratio of young people is 41.75%. The money they owe far exceeds their income level. It is not surprising that they cannot make up the money. About 45% of young people People cannot pay off their debts that month.

In particular, overdue credit card repayments are more serious. According to data released by the People's Bank of China, the total number of overdue credit cards nationwide has reached 91.875 billion yuan, a significant increase of 23.7% compared with 2019. Among this group of people who “do not repay their debts”, people born in the 1990s account for more than half. Moreover, the average debt per person born in the 1990s is 120,000 yuan, which is 18.5 times the monthly income. I have to say that this figure is really shocking.

You must know that the cost of "borrowing and not repaying" a credit card is very high. Firstly, the repayment interest will increase day by day. Secondly, if you are judged to be maliciously overdue, you may face penalties and enter the credit investigation blacklist. List. Seeing this, some people can't help but ask, if you go bankrupt, do you still need to pay off your credit card?

In this regard, the long-discussed personal bankruptcy system was implemented in Shenzhen in March 2021. It is reported that among the 260 cases of personal bankruptcy filed in the first month, 90.9% involved credit cards. According to the provisions of the bankruptcy regulations, even if you file for bankruptcy, the debt cannot be canceled, that is, the amount payable still needs to be repaid.

In other words, the money that should be repaid must still be repaid. "Repaying debts is a matter of course." This saying has endured for a long time. However, there are relevant provisions in the Civil Code that will be implemented on January 1, 2021. In some cases, the money owed does not need to be repaid.

Usury

In 2020, the country canceled the 24% and 36% interest rates for private loans, and stipulated that the loan interest rate for usury shall be determined through negotiation between the creditor and the debtor, but the interest rate negotiated by both parties shall not be higher than The People's Bank of China stipulates that the loan interest rate shall be 4 times, that is, no more than 15.4%. Therefore, if the loan interest rate exceeds 15.4%, it falls into the category of usury, and the excess does not need to be repaid.

Routine loans

Before that, let’s first understand what routine loans are. The so-called “routine loans” are actually some illegal institutions lending money through improper channels and then doing some False bank statements are used to "extract" borrowers' money step by step through means such as intimidation, threats, and high interest rates.

Recently, some media reported such incidents. A resident in Guangzhou was loaned 165,000 yuan by a routine loan, but under the lender's "ruse", he signed a contract and eventually found that he still needed to repay 400,000 yuan. If you look at it in terms of interest, the interest rate even exceeds 100%. Moreover, such contracts usually involve the mortgage of movable or immovable property. When the victim repays the debt, the mortgaged property will be taken away by the illegal team.

The state has always explicitly prohibited routine loans. On September 26, 2021, a routine loan team was "knocked down" in Maoming, Guangdong, and the amount involved was as high as 50 million yuan. Then, on September 27, the State Administration of Radio, Film and Television issued a document calling for a nationwide ban on "beauty loan" and other propaganda, because beauty loan advertisements also involve routine loans. The nature of routine loans is even worse than loan sharking. They are considered invalid, so they do not need to be repaid in excess of the legal interest.

Loan with cut-off interest

The so-called "head-cut loan" is generally the most common in private lending. If we need to borrow money from the other party, we should pay the handling fee first, and then the other party will lend you the money. Generally speaking, the handling fee is very high, and when you repay the money later, you need to pay off the principal in one lump sum. In the "714 Anti-aircraft Gun" exposed by CCTV in 2019, high beheading interest rates and overdue fees on rolling profits became the "initiators" of borrowers being saddled with huge debts.

For example, someone borrowed 200,000 yuan from a lending platform, but only got 150,000 yuan. The 50,000 yuan deducted is called "service fee" or interest, but the actual interest cost is calculated as 200,000 yuan, which is very unreasonable. However, according to the provisions of the Contract Law, the interest on the loan shall not be deducted from the principal first for any reason. If you encounter this kind of loan "trap", you only need to repay the "borrowed" principal and related interest, and the additional portion cannot be repaid.

Unilateral debts of husband and wife

Generally speaking, after two people get married, everything after the marriage must be borne jointly. But in terms of debt, according to the interpretation of the Civil Code, if one spouse owes a huge debt without the other party's knowledge, the unknowing other party may be deemed to be invalid and does not need to repay the debt. If there is a dispute about this, you can ask a lawyer or the court to intervene.

Debts beyond the statute of limitations

In fact, in addition to the informal loans mentioned above, many formal loans also have the possibility of "not having to be repaid." Data from Hualu.com shows that according to relevant regulations in my country, regular private loans will be deemed invalid debts after the statute of limitations has expired three years after the debt matures.

In other words, even if there is a personally signed IOU at this time, you cannot file a lawsuit and can only use other methods to "collect", but some borrowers will not repay.

Money borrowed from illegal lending institutions

Illegal lending institutions are mainly online lending platforms. At its peak, there were nearly 6,000 online lending platforms in my country. These online lending platforms are pervasive and can The extremely low threshold and extremely fast money transfer have attracted many young people to borrow money. According to data released by Nielsen, the penetration rate of credit products among young people has reached 86.6%.

However, in recent years, our country has vigorously cracked down on online lending platforms, and the number of online lending platforms has also been rapidly decreasing, and all illegal and illegal platforms have been eliminated. Since these platforms are illegal, the loans issued are not recognized and protected by law.

In summary, these six types of debt do not need to be repaid. The Civil Code protects our borrowing interests to the greatest extent, but for "advanced consumption" and "overdraft consumption", we must Learn to look at it from a rational perspective. If you are really "desperate" and need money, you should choose a formal lending company or bank instead of some informal lending platforms to avoid getting into trouble.