In China, defaulting on credit card payments can land you in jail

[nakedtons]

First time I have heard that defaulting on debts is a criminal offense. In most countries, the maximum penalty is getting sued for bankruptcy.

https://www.scmp.com/article/701423/pay-cards-or-go-jail-beijing

 

[mooseolly]

They can shout their common prosperity slogan and ask to be bailed out?

 

[Enola88]

刷卡迟早要还的
没钱不要勉强买

 

[SecretAgent]

The very core of this place called china is Marxism communist!

Nothing is owned personally. Everything is state own!

 

[Capitalist]

Owe $, Pay $.

Just honor it.

 

[nakedtons]

Now I know why this dad was so angry. His daughter's shopping spree could have landed her dad in jail.

https://stomp.straitstimes.com/sing...-over-her-200k-credit-card-debt-gets-15-years

 

[i_am_fatimah]

Actually this should be implemented in sg, why should banks absorb your payments? Even they repo your stuff will still make a loss, hence a lot of Chao Kuan ran jiao rang in sg like to spend above their means just to show off

 

[mp4005 help]

that is why want to compare every country say this good or bad ..

to some , Nothing wrong with jailing someone who defaults on loans.
I also think it is fair.


Read HWZ Forum Rules!

 

[3dollar]

Banks and financial institutions sell products that make investors lose money face no liability.

 

[coyote]

Edmwers'logic is owe money, no need to pay?

 

[dennismados]

So that when you borrow, think twice before buying stupid worthless thing.

Can keep inflation in check.

 

[Atrina_Boy]

don't want to go jail don't anyhow 刷卡 咯

 

[sgman88]

At least he go jail for what he enjoy using the money. Not like alimony will land u in jail, even bankruptcy still must pay.

 

[buttbERry]

sounds serious there

 

[PaboJames]

Chao Kuan people owe money don't pay should go to jail rite?

Can pay pay back, cannot pay go court fine and go jail loh.... no good meh?

 

[DragonFire]

First time I have heard that defaulting on debts is a criminal offense. In most countries, the maximum penalty is getting sued for bankruptcy.

https://www.scmp.com/article/701423/pay-cards-or-go-jail-beijing

Bro. Dubai.

 

[zheng]

First time I have heard that defaulting on debts is a criminal offense. In most countries, the maximum penalty is getting sued for bankruptcy.

https://www.scmp.com/article/701423/pay-cards-or-go-jail-beijing

why not? better den sg own money dun pay bo dai ji

 

[peaceheart]

Social credit score?

 

[eggie011]

After goto jail, still must clear debt? If still cannot how? Still continue second round of jail term? Like that how to earn money to clear debt