According to Article 70 of the Measures for the Supervision and Administration of Credit Card Business of Commercial Banks, under special circumstances, if it is confirmed that the credit card debt exceeds the cardholder's repayment ability and the cardholder still has the willingness to repay, the issuing bank can negotiate with the cardholder on an equal footing and reach a personalized installment repayment agreement. The longest term of personalized installment repayment agreement shall not exceed 5 years. The contents of personalized installment repayment agreement shall at least include:
(a) the balance, structure and currency of the arrears;
(2) the repayment period, method, currency, date and repayment amount of each installment;
(three) whether to charge annual fees, interest and other fees during the repayment period;
(4) The cardholder shall not apply for a credit card from any bank before all the funds related to the personalized installment repayment agreement are settled;
(five) the rights and obligations of both parties and the liability for breach of contract;
(6) Other matters related to repayment.
If both parties reach an agreement and sign an installment repayment agreement, the card-issuing bank and its card-issuing service institution shall stop the collection of the cardholder, except that the cardholder fails to perform the installment repayment agreement. If an oral repayment agreement is reached, the issuing bank must keep the recorded data. Records shall be kept at least until the date of settlement of arrears.
Extended data:
Measures for the supervision and administration of credit card business of commercial banks Article 52 The issuing bank shall establish a risk management system for credit card business. When the issuing bank learns from the public security organs, judicial organs, cardholders themselves, relatives, transaction monitoring or other channels that cardholders have risk information such as stolen identity documents, deteriorating family financial status, declining repayment ability, invalid reserved contact information, deteriorating credit status, and abnormal card use behavior;
Operations that may increase credit risk, such as increasing credit line, authorizing credit card service to exceed credit line and authorizing installment business, should be stopped immediately, and risk management measures such as improving transaction monitoring, reducing credit line, stopping payment, freezing or implementing the second repayment source should be taken as appropriate.
China Government Network-Measures for the Supervision and Administration of Credit Card Business of Commercial Banks