Credit card arrears can be mortgaged with real estate, but necessary procedures need to be fulfilled. When they owe each other debts, they can offset them with the same amount. If the credit card is not returned and the bank sues, then the court may freeze the auction assets.

What are the main consequences of not returning the credit card?

1 will generate high overdue interest.

2. Will be sued by the bank to the court, resulting in legal fees, attorney fees and other economic losses.

3. Individuals will have bad credit records, which will have an impact on future bank cards and loans.

4. If the amount owed is more than 6,543,800 yuan, it constitutes the crime of credit card fraud and shall be investigated for criminal responsibility.

legal ground

Article 6 of the Guarantee Law The term "guarantee" as mentioned in this Law refers to the act that the guarantor and the creditor agree that when the debtor fails to perform the debt, the guarantor will perform the debt or assume the responsibility according to the agreement.