Second, if the bank sues, it is likely to apply to the court to preserve your assets, such as real estate, cars, deposits, stocks and so on.
Third, if your assets are cleared and you can't repay the loan principal and loan reminder fees, the bank may apply to implement your salary income (deducting basic living expenses).
Fourth, unless you take deliberate fraud or provide false information to borrow money, you will generally not go to jail.
Fifth, if you can't pay back the money within a certain period of time, you will be blacklisted in the credit information system, you can't borrow any more, and it is difficult to apply for a credit card. It is said that at present, the state has begun to restrict blacklisted people from taking soft sleepers and other high consumption.
Legal basis: Article 313 of the Criminal Law of People's Republic of China (PRC) refuses to execute the judgment or ruling of the people's court, and if the circumstances are serious, he shall be sentenced to fixed-term imprisonment of not more than three years, criminal detention or a fine.
People's Republic of China (PRC) Civil Code
Article 673 Where the borrower fails to use the loan according to the agreed purpose, the lender may stop issuing the loan, recover the loan in advance or terminate the contract.
Article 674 The borrower shall pay interest at the agreed time limit. If the time limit for paying interest is not stipulated or clearly stipulated, and cannot be determined according to the provisions of Article 510 of this Law, if the loan period is less than one year, it shall be paid together with the loan; If the loan term is more than one year, it shall be paid at the end of each year; if the remaining term is less than one year, it shall be paid together with the loan.
Article 676 If the borrower fails to repay the loan within the agreed time limit, it shall pay the overdue interest in accordance with the agreement or the relevant provisions of the state.