We often hear the words "bad credit" and "black credit", and many people associate them with credit reporting, but this statement is not necessarily correct, let's take a look
What is Bad Credit?
Bad credit is a personal credit record, and after a borrower applies for a loan or credit card, the borrower has a late repayment record due to some reasons, which can be called bad credit reporting.
It is difficult to apply for a loan or credit card with bad credit, and it will even be included in the "credit blacklist", which will affect loans, work, life, and even the purchase of large amounts of insurance will be restricted.
Let's talk about "Lao Lai", officially, it means that if the person subject to enforcement fails to perform the obligations determined in the effective legal documents and has any of the following circumstances, the people's court will include him in the list of judgment defaulters and give him credit punishment in accordance with the law:
(1) Refusal to perform obligations set forth in effective legal documents despite having the ability to perform;Once you become a lai, your daily life will be affected, not only prohibiting high consumption, but also restricting entry and exit, and if it is enforced, your savings, income and other assets may be confiscated.2) Obstructing or resisting enforcement by means such as fabricating evidence, violence, or threats;
3) Evading enforcement by means such as sham litigation or arbitration, or concealment or transfer of assets;
4) Violating the property reporting system;
5) Violating an order restricting spending;
6) Refusal to perform on the enforcement of a settlement agreement without a legitimate reason.
Through the above definition, we can know that a dishonest person with a bad credit record ≠ a judgment defaulter!
Bad credit mostly refers to the list of people who have tainted records in the credit file of the credit information system of the People's Bank of China, such as multiple overdue records, arrears, etc., but the bad records of individuals may not necessarily reach the point of court law enforcement.
And the old man must be a person who has been sentenced by the people's court and refuses to execute the judgment and is included in the list of dishonest judgment debtors, and the clothing, food, housing and transportation of the "old lai" are restricted everywhere!