In how much trouble are people here for defaulting on credit loans?- eChinacities Answers

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PtotheB

Posts: 47

Governor

Q: In how much trouble are people here for defaulting on credit loans?

Back home you get warnings, delay, warning, delay, etc.

How do things go here? Average Chinese guy, spending a bit over his means, or perhaps met a girl and wanted to impress. Been running late on a couple of payments... same procedure, or are things a lot more strict?

11 years 50 weeks ago in Money & Banking - China

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Createach

Posts: 1201

Shifu

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If the amount of credit with the interest due to delay reaches 10000 RMB........The bank will contact the PSB and the police authorities for that and then you might get arrested or legal questioned by the goverment authorities...........so you will pay your depth in a way or another in this country..

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11 years 40 weeks ago

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