1, the credit record becomes worse, resulting in low credit evaluation, which will become a credit stain. Bad credit information will be uploaded to the personal credit information system of the People's Bank of China, which is tainted in various systems across the country, and it is impossible to apply for credit cards or loans in the future;

2. The bank will sue for repayment, and if not, the court will force repayment.

If you pay by credit card, there will be late fees, and more and more money needs to be paid back. If it reaches a certain limit, notify the card owner. If you still owe money, you will inform your family and friends, and then call the police to sue.

I suggest that no matter what method you use to buy a mobile phone by stages, you must remember to repay it on time. The cost of not paying back is very high. If necessary, you can tell your parents and friends not to be hard-pressed, but to spend rationally in the future. They have many ways to make you pay back the money, including: door-to-door dunning, telephone harassment, language attacks and so on. Any method that is not illegal but can torture you can be used. So don't owe money for small loans unless you have to.

If you don't repay, your credit rating will be low. First, the bank will sue you and force you to repay. Secondly, you can't borrow money to buy a house or a car and spend money seven years in advance. You can't use the credit card any more. This is not recommended. Now is the credit market, without which nothing can be done.

Extended data

There are two fulcrums for the personal credit system to play its role:

1, perfect personal credit investigation mechanism and standardized personal credit evaluation mechanism.

2. Personal credit investigation is the basis of personal credit business activities.

The information of personal credit files comes from two aspects:

On the one hand, it is the loan application form submitted by the borrower when applying for a loan from the bank, including loan history, living conditions, income, marital status and other information;

On the other hand, it is the information related to the borrower's credit provided by the specialized agency of credit management, including outstanding debt records, credit card overdraft, loan records in other financial institutions, etc. Among them, the credit card information most used by residents is extremely important and comprehensive.

Personal consumption credit evaluation is the application and deepening of personal credit files, and it is also a necessary step for consumers to obtain bank loans. In foreign countries, banks generally use subjective judgment and quantitative analysis of credit scores. The quantitative analysis method is to grade the loan application according to the credit scoring model. In practice, subjective judgment and quantitative analysis are usually used together and complement each other.

References:

Credit loan-Baidu Encyclopedia