Is there a prison sentence if the bank does not pay credit debt?

Getting loans from banks and meeting our needs is one of the most shortcuts known. Taking the required loan can be explained in a fundamental sense as the receipt of the cash, which you do not have, by promising to pay a certain interest rate at the end of a certain term. See for an illustration

The process that starts with the receipt of money continues with the approval of the loan. The next stage after the loan is taken is the smooth payment and closure of the loan.

If the living conditions do not allow the payment of the loan, some unwanted problems may be encountered. In such cases, if the bank loan debt is not paid, there are questions about what happens in prison terms.

Requirements for Taking Bank Loans

Requirements for Taking Bank Loans

To get a loan from a bank or a financial institution, it is necessary to have a good record first. Your bank record is closely related to how regular and successful your relationship with banks is.

Banks must check to see if they can get the money back before they give you a loan. Everyone will want to check if they can get it back before lending it to someone. The first thing banks look at is your credit rating and bank registration. After their control, you can request a loan by submitting the documents requested from you.

Approval and Allocation of Credit from the Bank


Waiting is started after the documents are completed for the loan to be taken from the bank. The evaluation process of the real estate related to the status of the documents and the credit varies between 3-5 days. You are then given information for approval or rejection.

In addition, there may be a document request. After submitting these, if your credit is approved, your credit will be transferred to your account when the signatures are concluded within the same day. You can use the money transferred to your account as of the same minute.

What happens if credit debt is not paid?

What happens if credit debt is not paid?

A payment schedule, which is understood from the beginning, is created for the loan received from the bank. You are expected to make payments on the day determined as a result of the payment schedule. If otherwise, a maximum of 90 days will be defined to you.

During this period, you are expected to continue to pay the payments in the old order and complete the installation in between. If not, the bank will contact you first. As a result of communication, configuration or convenience suggestions are offered. If this is not the solution, your file will be sent to the lawyer.

The lawyer will contact you on behalf of the bank to deal with you and close the debt. If this does not result, enforcement proceedings will begin.

If Credit Debt Is Not Paid Execution

If Credit Debt Is Not Paid Execution

Enforcement proceedings will start on the real estate subject to the loan. If you have taken a mortgage loan or a car loan, you can go on sale through foreclosure through a lawyer.

As a result of the sale, after the debt and your lawyer’s expenses are deducted, the remaining money will be returned to you. In the event that the money received does not cover the debt, the remaining money is collected as much as the difference.

If Credit Debt Is Not Paid Is It Prisoned?

Failure to close the money through execution will bring the possibility of imprisonment for the debtor person. According to the explanation in article 39 of our Constitution, when no one fulfills a contractual commitment, his freedom cannot be taken away.

As can be understood from this explanation, it is not possible to go to jail due to debt issues arising from the debt. Because there will be a situation contrary to our constitution, a possibility related to the imprisonment process cannot be mentioned.

Although it is not a problem to try out the ways such as execution and salary cuts to close the debt, it is not possible to get a result, the debtor cannot be asked to put him in prison. Since your registry will deteriorate and this will affect your whole life, you should try to find a way out before taking the event to the level of execution or lawyer.

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