What will happen if you owe a bank credit loan?

1. Failure to pay a bank loan will first affect your personal credit.

all the bad records of unpaid loans will be automatically collected in the personal credit information system of the People's Bank of China, and can be found online all over the country. If you apply for a loan in the future, all banks will check the personal credit report before issuing loans. If you have a bad credit record, it is difficult or even impossible to apply for any loans or credit cards. After marriage, the spouse's loan will be affected.

2. In addition, the bank will collect the overdue borrowers. If the collection fails, the bank will sue the customers who fail to pay back in loans overdue, and the repayment will be executed.

if there is no cash repayment, the collateral can be disposed of by auction according to law, for example, the house will be disposed of by auction or other legal means, and the proceeds will be used to repay the bank loan.

Extended information:

Bank loans overdue Solution:

1. If the cardholder forgets to repay, he must repay as soon as possible, preferably in full. Call the bank's credit card center to declare non-malicious arrears. If the overdue time is short, the bank may not count bad records;

2. If the credit card is unable to repay due to unemployment, illness and other reasons, before the repayment period, the cardholder should take the initiative to get in touch with the bank credit card center, explain his financial situation, declare that he is not maliciously in arrears, and apply for deferred repayment or installment repayment;

3. When the cardholder voluntarily applies for deferred repayment, the bank will often agree to postpone the repayment, and the bank and the cardholder will agree on a mutually acceptable repayment plan.