The consequences of a credit card becoming a bad debt

The consequences of a bad debt include: 1. Overdue personal credit record. 2. The individual will be put on the credit blacklist by the bank and cannot apply for other loans. 3. If the amount is too large, the bank will execute the judgment. Credit card bad debts refer to receivables that have been repaid within the time limit and cannot be recovered even after being called for. They are in a sluggish state for a long time and may become bad debts. Bad debts are serious overdue behaviors.

The following is the detailed way banks deal with bad debts:

1. Report the cardholder’s credit record to the central bank. You must all know the importance of personal credit. Personal credit is very important to credit cards. Applications, credit card limit increases, bank loans, etc. all have a certain impact.

2. If the amount of bad debt is not large, the bank will directly put the cardholder into the bank's credit blacklist. It will be more difficult to apply for a credit card or loan in the future.

3. If the amount of bad debts is too large, the bank will make a judgment against the cardholder. If the cardholder fails to repay, the bank will directly make a judgment against the cardholder. In other words, the credit card bad debts will be Jailed.

In addition, banks generally do 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 penalty interest and liquidated damages due to overdue payments. many. If the cardholder maliciously avoids repayment and the principal amount owed reaches 50,000 yuan, the bank will charge him with a credit card crime. Even if the cardholder does not go to court, there will be a default judgment, and the cardholder will be included in the list of debt evaders and will be chased by the Internet.

Will bad credit card debt affect your credit? The consequences of not handling it in time will be serious!

A friend consulted and said that he applied for a mortgage, but was rejected by the bank because the status of a credit card in his name was bad debt. What is even more incredible is that there was no outstanding balance on this card. There was an overpayment, which made him feel incredible. Just want to know what this bad credit card debt is? Why does it also affect credit? Let me introduce it to you below.

1. How do credit card bad debts arise?

It means that your credit card has not been used for a long time, but there is a balance in the card, or there is an overpayment.

For example, if you refuse to repay the money you owe the bank, fearing that the bank will demand payment, and change your address and contact information so that the bank cannot contact you, then the unrecoverable money in your card will be It has become a bad debt, and this kind of bad debt is a general bad debt; for another example, if you don’t owe the bank money, but there is extra money on the card, and you don’t use the card, bad debt will also form over time, but this is It's called overpayment of bad debt.

2. Will bad credit card debt affect credit?

It will naturally have an impact, especially bad debts caused by arrears, which will not only affect credit, but are much more serious than overdue loans. Any application for a bank loan or credit card will 100% be rejected. It is recommended that you pay off the debt in time, and then communicate with the bank that you did not overdue the loan maliciously to see if the bad debt record can be deleted.

Overpayment of bad debts will also affect your credit, but it is not serious. You only need to withdraw the excess money and close the account. After the bank updates the credit report, the credit report will be displayed normally!

Summary: The consequences of credit card bad debt are very serious. In order to avoid affecting your credit, it is recommended to deal with it in time. But although it is scary, it is still very easy to deal with.

What are the consequences of a credit card becoming a bad debt?

There are more and more reasons for being rejected when applying for credit cards and loans. In most cases, as long as the applicant makes targeted improvements, there is still a chance, but There is one situation that all banks will reject directly, that is, if the credit report contains the words "bad debt", the consequences will be very serious.

Credit card bad debt refers to the credit card overdraft principal and interest that cannot be recovered after the bank has taken all possible measures and necessary procedures. Generally, overdrafts on credit cards that are overdue for more than 181 days (inclusive) can be regarded as bad debts. This means that the bank has called on the debt more than 6 times, but the cardholder is still indifferent. In this case, the bank will set up this account. It is in bad debt status.

1. If the amount of bad debt on your credit card is not large, the bank will report your credit record to the central bank, and your personal credit report will be seriously stained. If you want to apply for a loan in the future, It's very difficult.

2. If the amount of bad debt on your credit card is large, the bank will punish you. If you fail to repay the loan, the consequences will be very serious.

Among them, if the credit debt exceeds 10,000 yuan and is still not returned for more than 3 months after two collections by the card-issuing bank, it constitutes a credit card crime and requires criminal liability and a sentence. If it does not fall into the above circumstances, there will be no criminal liability and no jail time. However, no matter how much you owe, if you fail to repay it overdue, it will create a bad credit record, which will have a serious impact on your future credit card or loan applications.

Bad debts are credit card overdraft principal and interest that cannot be recovered even after the bank has taken all possible measures and necessary procedures. Generally, overdrafts on credit cards that are overdue for more than 181 days (inclusive) can be regarded as bad debts. This means that the bank has called on the debt more than 6 times, but the cardholder is still indifferent. In this case, the bank will set up this account. It is in bad debt status.

1. If the amount of bad debts on your credit card is not large, then the bank will report your credit record to the central bank, and your personal credit report will be seriously stained. If you want to apply for a loan in the future, It's very difficult.

2. If your credit card has a large amount of bad debt, the bank will punish you. If you don't repay the loan, the consequences will be very serious.

Among them, if the credit debt exceeds 10,000 yuan and is still not returned for more than 3 months after two collections by the card-issuing bank, it constitutes a credit card crime and requires criminal liability and a sentence. If it does not fall into the above circumstances, there will be no criminal liability and no jail time. However, no matter how much you owe, if you fail to repay it overdue, it will create a bad credit record, which will have a serious impact on your future credit card or loan applications.

This ends the introduction on whether credit card bad debts are serious and how to solve them. I wonder if you found the information you need?