I'm reborn and I'm an international student again?

There's a common saying that you can just default on online loans, but you absolutely can't owe money on your credit card, or you'll end up in jail.

Actually, these are all lies from banks to scare people. Credit card delinquency incurs high interest and penalties, calculated daily. At worst, refusing to pay will only scare them into believing you've committed credit card fraud or that they'll sue you.

If you really can't repay it for a while, some banks might be able to negotiate and reduce the interest, allowing you to repay only the principal.

However, large, well-funded banks like the Big Four usually don't bother with you. They'll just sell your bad debt to a third party for 10% to 30% of the original price and let them collect the debt.

How many people in China use credit cards now?
More than 3 million people!
He has nearly 5 million cards in his hands!
Chen Xi's POS machine business has signed contracts with over ten million merchants, and the number of POS machines installed in small shops on the street is countless.

Add to that other payment companies, big and small, and the pool of people using credit cards to cash out is incredibly deep.

Ding Ningwen has made a huge mess this time, directly harming millions of people.

What should these people do if they can't pay their credit card bills when they're due?
They had no choice but to grit their teeth and continue trading cards within the circle.

These credit card users all have their own little circles. Why? Because if you keep using the same card in one place, the bank will immediately suspect something's wrong and lower your credit limit. So they have to help each other out; you make a purchase for me, and I'll make another one for you.

But borrowing money for cash flow is never a smooth process. Some people rob Peter to pay Paul, only to find themselves unable to repay their debts. As a result, the number of people unable to pay their debts snowballs, and credit card delinquencies become impossible to hide.

This has caused quite a stir at the credit card centers of major banks.

The collection calls were deafening, and the customer service representatives were hoarse from making so many calls every day.

Normally, banks wouldn't be afraid of you defaulting on your payments; they'd be happy to collect hefty penalty interest. But this time is different. The hole caused by the defaults is enormous—not just tens or hundreds of thousands, but hundreds of millions!

"Hello, is this Wang Tao? This is the XX Bank Credit Card Center. Your bill is one week overdue. According to our bank's regulations, overdue records will be reported to the credit reporting system. In order to maintain your good credit record, please pay off this debt as soon as possible. The amount due is the principal plus penalty interest, totaling 13,214.3 yuan..."

"I have no money! Go ask the Heaven and Earth Bank for it!"

"Hello, is this Mr./Ms. Li? This is the credit card center of XX Bank. We'd like to remind you to check your current statement..."

"Go ask Yizubao for it! All my money is there!"

The phone lines are ringing off the hook, but very few people are actually paying back the money.

The banks gradually realized something was wrong. In the past, they would just scare people by saying they would report them to the credit bureau or sue them, and most of the debtors would back down and obediently pay back their money.

This time it's really weird. They're all acting like they've been injected with gunpowder, their attitude is very tough, and they're not afraid of your tactics at all.

The seasoned veterans in the bank were also puzzled. They had seen this kind of situation before, but those were only seen when financial crises abroad caused widespread unemployment.

Huaxing Bank's credit cards are known as "tightwads" because they are stingy with credit limits and always call customers to offer installment plans.

"I inquired with several other banks, and their situations are similar to ours. According to calculations, the current amount of overdue credit card debt in the market has exceeded one trillion yuan."

"The strangest thing is that these people all use Yizubao as an excuse. But how much money is actually in their Yizubao accounts? It doesn't match the overdue amount at all."

"This is a domino effect. It's like when one company goes bankrupt, it owes money to another company, and that second company owes money to others. Over time, this creates a chain reaction..."

"I still feel something's not right. It feels like these people are all in cahoots to avoid paying back the money."

"Don't worry about it anymore. If this drags on, the banks' cash flow will be in trouble. Then it won't be a matter of one trillion, but two trillion, three trillion, or even more."

The executives in the conference room were completely baffled.

It's important to know that the total credit limit for credit cards nationwide has exceeded 10 trillion yuan, and it's growing at a rate of 3% per year. However, the amount of outstanding credit card debt is increasing at a rate of 24%.

According to the bank's risk warning line, it's 45%. That is to say, if the overdue amount reaches more than 4 trillion, the bank will not be able to bear it.

my country's consumer loans total 8 trillion yuan to date, with 4 trillion yuan being half of that. Credit card transactions amount to approximately 29 trillion yuan annually, accounting for 84% of total retail sales of consumer goods.

If these people don't repay their loans, and the banks don't continue to increase their credit limits, then the entire market economy will collapse.

“If the hard approach doesn’t work, let’s try the soft approach…” said a chubby executive.

"..."

The room fell silent upon hearing this.

Normally, banks always treat people with an air of superiority. If you ask them to suddenly beg for money back, it's like killing them.
Swipe your card at headquarters.

"What are your next steps? If things continue like this, things will only get more chaotic." Linxi's expression was not good.

"What are you afraid of? Domestic banks won't go bankrupt. When there's no money, someone will naturally step in to save the day, just like the stock market," Chen Xi said calmly.

"That's not the same. What if the higher-ups investigate and come after us..."

"I asked you before if you dared to do it, but I didn't expect you to chicken out now."

He scoffed.

"Who said I wouldn't dare? What's there to be afraid of? There's no turning back once the arrow is released, let's do it!" A simple provocation changed Lin Xi's attitude. Normally, he would never have fallen for it, but at this moment he was completely flustered.

"Don't be afraid, it's going according to my plan. Banks will launch low-interest consumer loans to help these people reduce their debt, which means offsetting the high interest rates on credit cards. The annual interest rate for consumer loans is currently 6%-10%..."

"But you still have to pay it back, right?"

“I never said I wanted them to lend it to me.”

"Then what are you even talking about?"

"You said the interest rate is already lower than that of a credit card, what will happen if no one borrows from you?"

"Banks will continue to lower interest rates."

“That’s right. If no one spends, the higher-ups will put pressure on the banks. Then the interest rates on consumer loans will be 5%, 3%, and 1%. But that’s not enough. The banks’ approval process is too bizarre. Currently, banks won’t grant loans to employees of companies that aren’t on the whitelist like Chinese companies. If we want them to lower their approval thresholds, we’ll have to keep bleeding them dry.” Chen Xi smiled smugly.

"Then what are we going to do?"

"What to do? Of course, we're buying up bank stocks at rock-bottom prices."

"Oh? That's great!"

Upon hearing that there was money to be made, Linxi put all her previous worries to the back of her mind.

Chen Xi lit a cigarette and smiled broadly.

Feng Yun had already shown him in his previous life that openly competing with banks would not end well.

Since doing it openly won't work, let's play a dirty trick in secret.

In his mind, changing the bank's ideas was wrong; dismantling the bank was the right thing to do!
Three months later. Chen Yifeng's financial company was still operating. He hadn't listened to that person's advice and had chosen to continue lending.

He thought that with Ding Ningwen gone, his business would reach new heights, but instead, he was met with hell.

"What's going on? I told you to bring the money back, and look at this!" Chen Yifeng said angrily, holding a stack of bank acceptance bills in his hand.

A banker's acceptance bill is a deferred payment instrument issued by a company or bank. It is divided into bank acceptance and commercial acceptance, and is similar to a simple IOU. You can only receive the money upon presentation of the bill at the specified time.

Actually, it was already quite good that Chen Yifeng was able to get the banker's acceptance bill. You have to know that when Hengxiao Group didn't have money to pay its suppliers, they would just issue handwritten IOUs.

"Mr. Chen, we've been chasing this payment for a long time but haven't received it. It's so difficult for banks to lend money these days; these companies are short of cash and can only get checks. It took us a long time to finally get this..." The subordinate said, sounding a bit aggrieved.

"I don't care, I just want to see the money." Chen Yifeng is similar to most bosses; no matter how difficult the task, if an employee doesn't do it well, then the employee is at fault.

The bills of exchange he has are due in two years, meaning he won't receive the money until then, by which time it will be too late.

"I've heard recently that banks are facing a tight cash flow situation... so the requirements for business loans are getting increasingly outrageous," a female employee muttered.

"What nonsense are you talking about? Business loans all require a house as collateral. With housing prices so high now, banks would love for you to use your property as collateral for a loan." Chen Yifeng felt this was just an excuse.

"Alright, I'll personally go collect the other large amounts from them." Seeing that the others were silent, Chen Yifeng waved his hand.

What should we do...?

How come so many companies suddenly gave me bank drafts?

It’s weird.

Chen Yifeng was completely baffled.

The few bills he has are only worth a few million each. If a few large sums come in, that would be terrible.

Jeju Island.

Due to the previous Zard missile incident, the number of games played here has decreased rapidly, and there are even rumors that the island will be closed.

It's been a while since Chen Xi last visited, and the island's economy is in dire straits. Even highly profitable industries like casinos are suffering even greater losses than before, simply because there are no gamblers coming to play.

After all, who would risk being bombed by missiles to come here and have some fun?

"Chen Xi, it seems that God doesn't want us to make money!" Xin Yourong, the future successor of Lotte Group, was not in a good mood at the moment.

Even Yi Zhihui, who had experienced both highs and lows, was not very happy.

“This is an irresistible force, and there’s no way to avoid it.” Yi Zhihui shook his head, trying to find a reason to convince himself.

Missile deployment is a major issue between nations, and it's not something these businessmen can control.

“I was the one who proposed the previous plan, so I also bear some responsibility…” Chen Xi sighed.

"Don't say that, Chen Xi. You've done very well. This is not something you can change." Xin Yourong patted his shoulder.

"The more you say that, the worse I feel. If I hadn't suggested increasing the investment, you wouldn't have suffered such heavy losses. So, there's no point in saying anything now; I might as well give you some funds to help you out."

"what?"

Both of them looked surprised upon hearing this.

Investing in Jeju Island at this time would be insane.
"If you don't accept this, I'll never get over this feeling. I genuinely consider you my friends, so don't worry about me. I have plenty of money right now!" Chen Xi said sincerely.

"Well... let's discuss this first." Yi Zhihui looked at Xin Yourong, his mind a little blank.

However, Chen Xi's suggestion was a good thing for them. If someone came to deliver money at this time, their losses would be greatly reduced.

Seeing the unspoken understanding between the two, Chen Xi was secretly overjoyed.

"Chen Xi, is there something you need our help with?" Yi Zhihui, a seasoned veteran, quickly realized what was going on and asked quietly in Mandarin.

"There is a tiny little thing I need to trouble you two with... Don't worry about it, my investment here isn't just a waste of money..." Chen Xi rubbed his hands together.

"You just said you have plenty of money, investing here is no small amount," Yi Zhihui said, looking at him with suspicion.

"Don't worry about that. I recently sold all my print shops in China to a Dubai tycoon, and I suddenly had more than 300 million yuan in my hands."

He wasn't lying about this; the person he'd been looking for to take over had finally appeared. In order to achieve full cooperation with New Germany and to invest in the Chinese market, the Dubai tycoon used some spare change to complete the deal with Chen Xi.

"Are you planning to invest in a casino?" Xin Yourong asked.

"No, no, no, I want to invest fully in Jeju Island."

"comprehensive?"

Both of them were taken aback when they heard the answer.

You said that in the current situation, investing in casinos is definitely more valuable, as other industries on the island are barely surviving, and many projects have become abandoned projects.

"Yes."

"For example?" Xin Yourong asked again.

"For example, the medical real estate on the island, specifically the unfinished project of a well-known real estate group in China."

The company originally had a health city project here, but it was abandoned. The reason was a broken capital chain, coupled with the current missile crisis, so the group planned to sell it off at a low price.

"Why would you buy that? As far as I know, even at a discount, it's still not cheap. Besides, you'll have to continue building after you buy it, so it's a complete loss-making deal." Yi Zhihui shook his head after hearing this.

"I have a way of dealing with that," Chen Xi said with a mysterious smile.

Before long, the South Korean government will open up medical visas to Chinese tourists in an effort to save Jeju Island's economy.

He can simply modify this unfinished project and turn it into a medical aesthetics visa center.

In just a few years, the missile crisis will be resolved, and the missiles can be resold for several times their original value.

Why did Chen Xi know that this project could make money?
Because in his previous life, the company that ultimately took over this project was his father's company.

Of course, Chen Yifeng wasn't the only one interested in buying this project; others were also willing to take it over. (End of Chapter)