Article 50 of the Provisions of the Supreme People's Procuratorate and the Ministry of Public Security on the Standards for Criminal Cases under the Jurisdiction of Public Security Organs (II) jointly issued by the Supreme People's Procuratorate and the Ministry of Public Security. Article 50 of the prosecution standard clearly stipulates that anyone who defrauds a bank or other financial institution of loans for the purpose of illegal possession, with an amount of more than 20,000 yuan, shall file a case for prosecution.

Therefore, in China's current judicial practice, the standard of the crime of loan fraud is 20,000 yuan, and the amount of personal loan fraud is more than 50,000 yuan, which is huge, and the amount of personal loan fraud is more than 200,000 yuan, which is particularly huge.

Serious consequences of owing money to the bank and not paying it back

1. Personal credit is damaged.

If you have a loan transaction with a bank, all repayment behaviors will be recorded by the central bank's credit information system and truthfully reflected in the credit information report. Today, when the credit report is relatively perfect, it will clearly show your overdue repayment days. If it takes more than 90 days to repay the loan at this important node, then within two years, no matter whether you apply for a bank loan or a credit card, you will be "blocked" by all banks and regret the lack of integrity.

2. Call for payment

Generally speaking, if the final repayment date is more than three days, the lending institution will ask the borrower for information by phone if the repayment amount still fails to appear. Of course, borrowers can also take this opportunity to tell the truth and play a sympathy card for the grace period of repayment. However, if the arrears are delayed again and again, the lending institutions will no longer have hope. Only when they are disappointed, the next action is likely to be door-to-door collection.

3. Risk of being sued

If the collection is unsuccessful, the lending institution will take out legal weapons to safeguard its rights and interests. Under the way of mortgage loan, the court will advocate the auction of collateral, and the proceeds from the auction will be used to repay the remaining principal and interest, attorney fees, legal fees and other expenses in priority. If there is any surplus, it will be returned to the borrower in full.

This is an easy process, but it may not be easy to do. It will take at least three months to cash in the assets. During this period, the borrower can raise funds to win the battle for assets, and use the funds to withdraw the lawsuit from the lending institution. With the convergence of credit loans, borrowers still cannot escape legal sanctions and need to repay loans with assets in their own names.

Therefore, when dealing with bank debts, we should contact the bank staff as soon as possible and do our best to pay off the debts. If they are temporarily unable to repay, they can apply for an extension or negotiate to reduce interest and late fees. In the era of credit, we must protect our credit information.

Reference link: Baidu Encyclopedia-Personal Credit Information