Turkey had a large part of consumers using credit cards or loans drawn in a way that we can say. Those who can not pay their credit card debt or credit installments are also not to be underestimated.
In this article, by looking at the subject from this perspective; We will try to give information about the process that will develop for those who say I have not paid the credit and credit card debt.
What Happens When Credit Card Debt Is Not Paid?
Credit cards are a payment tool that banks offer not only to their private customers but also offer installment opportunities, and offer gifts and advantages in shopping at contracted merchants. We can think of credit cards as a loan, and payments for spending are made on specified routine dates.
According to the latest research, there are approximately 45 million credit cards in our country. Along with the increase in credit cards, the number of unconscious users increases simultaneously. There are even individuals whose business life has shaken and ended due to the debts arising from the use of credit cards. To prevent this, we strongly recommend that you use your credit card according to the rule.
What Will Happen If Credit Card Debt Is Not Paid
If you are in a credit card user position and you are looking for a question like what happens when you don’t pay your credit card debt, we recommend that you read our article carefully. As is known, credit cards have a total debt and a minimum debt. You have to pay at least the minimum amount of your credit card. If you want, you can also pay your total debt, and paying the total debt will have a big impact on your credit rating. If your credit card debt is not paid, daily interest comes into play first. Daily interest rates vary for each bank and you start paying interest per day you do not pay.
If your credit card debt is not paid within 2-3 months, the banks will start calling you frequently and reminding you of your debt. Subsequently, the credit card debtor is transferred to the lawyers where the bank works. Lawyers control the business and they start calling you. As a result of this transaction, if it is not paid within 5 years, first, your salary and bank accounts, and then your car and all your assets will be foreclosed.
Foreclosed goods or group of goods is the amount of your debt. Finally, if you do not pay your credit card debt in a period of 1-2 years, you are likely to be sent to court, and you may be subject to a jury of up to 3 months. Our suggestion to you is to pay your credit card debt using the possibilities such as configuration or installment before investigating a question such as what happens when you do not pay your credit card debt.
Legal Process When The Credit Debt Is Not Paid
Loans are known as the first method we apply for the cash needs we have in our lives. The loans that banks offer us are given with low-interest rates along with payment facilities. Individuals who do not have cash when making a transaction such as buying a house, buying a vehicle or investing in a real estate will withdraw loans from banks.
Loans are given according to the credit ratings of individuals and regular income. But there are many individuals who are unable to pay their loans despite meeting these points. If you are investigating a question such as what happens when you don’t pay credit debt, we recommend that you read our article in detail.
What happens if I don’t pay my credit debt
We can say that the process developed in the non-payment of credit and credit cards is the same. As a privilege, it can be said that a tougher attitude is displayed in loans. There is no such thing as a minimum amount in credit payments compared to credit cards. There is a net amount determined and this amount must be paid. If you do not pay your loan, you can face many problems.
If you have paid your credit debt later than the given date or you have not paid within 1-2 months, your credit rating will go down to a very low level. However, bank employees call until they become almost disturbing and demand the amount of the debt. If this is no longer paid, they will refer you to lawyers.
Lawyers take over and now they take care of you. First of all, if you have bank accounts, the money is seized as much as your debt amount and blocked transactions are performed. In addition, if there is no result, if you have a car, foreclosures are made to your car and then your assets. If you have mortgaged the loan, the mortgage commodity is received against the loan.
In the events that have developed until this time, your credit rating will be quite bad and you will not be able to benefit from any campaign offered by banks for a period of 3-4 years. If the loan payment is not paid for 5-6 months, enforcement proceedings will start and if you make a payment commitment and violate your commitment, it may even be a jailbreak. If you are in search of what happens when you don’t pay credit debt, we suggest you close this debt as soon as possible. Otherwise, banks take a hard stance on this issue and they have no amnesty in any way.