Credit card arrears received a text message from a bank lawyer

If the credit card is not returned, the consequences will be very serious. There are not only late fees, but also liquidated damages (interest), over-limit fees, annual fees and so on. Moreover, the interest calculation method of these expenses is compound interest, which is "rolling interest calculation". If the credit card fails to repay for a long time, the cardholder will be punished. It's a civil dispute. The purpose of the lawyer's letter is to urge you to pay back the money as soon as possible. If you keep urging you and you don't pay back, the bank will think you owe money maliciously. If the bank thinks the situation is serious, it will sue you for credit card fraud. As long as you contact the bank to negotiate repayment as soon as possible, there should be no problem. Thanks for adoption