The consequences of not paying back the money

1. Overdue credit cards or non-payment will be blacklisted by various banks. In the future, applying for loans (such as mortgages, provident fund loans, etc.) or credit cards from other banks may be rejected.

2. Face high penalty interest (interest is calculated in days) and liquidated damages. The bank will also collect the debt (starting with phone calls, text messages, and emails. There may be debt collectors following you every day to collect the debt)

3. If the debt is not repaid, the bank will sue the court. The court will pronounce a "repayment ruling", and the court's notification of judgment will be sent directly to the home of the debtor. You have to pay it back even if you don’t want to. For large amounts and serious circumstances, the court will seize the debtor's real estate or other assets. Those who insist on being a gangster and the circumstances are serious will be sentenced to prison.

4. If you are sued, your assets may be seized. Financial institutions will also arm themselves with laws. If the debt is not repaid, and the amount is relatively large, you will be prosecuted. Once the court pronounces its verdict, you must implement the "repayment ruling" even if you are reluctant. Otherwise, the court will seize the property under your name in accordance with the law and use the proceeds from the auction to repay the debt.

5. If the circumstances are serious, you will be jailed. Generally speaking, incidents such as borrowing money and not repaying it are civil disputes and will not rise to the criminal level. However, if the borrower refuses to comply, insists on being a deadbeat, and would rather run away than pay back the money, if the circumstances are very serious, the court will also hold the borrower criminally responsible, and if the case is too serious, he will be jailed.