1. The repayment period can be extended

According to the new regulations, when the cardholder determines that he is unable to repay the current bill, the cardholder can contact the bank and the two parties will negotiate and repay the bill. payment. In the negotiated repayment, if the cardholder is willing to repay but does not have the ability to repay, he can choose to repay in installments of up to 60 installments, which is 5 years.

2. Regarding debt collection

The latest provisions of the Civil Code also clearly stipulate the debt collection on credit cards. Starting from March 2021, soft violence collection will be included in the prison sentence. Soft violence collection generally refers to many collection behaviors, such as playing sad music, blasting the address book, harassing the cardholder's family or friends, etc., which all fall into the category of soft violence collection.

3. Regarding liquidated damages

In the new regulations of the Civil Code, late payment fees arising from overdue credit cards are changed to liquidated damages. The charging standard is 5% of the unpaid portion below the minimum repayment amount, calculated from the next day after the overdue amount. After collecting liquidated damages, no additional interest will be charged.

4. Raise the sentencing standard

According to the latest provisions of the Civil Code for overdue credit cards, the sentencing standard for overdue credit cards has been increased from the previous 10,000 yuan to 50,000 yuan, which means that a single bank is overdue If the amount exceeds 50,000 yuan, you will be subject to criminal liability. If the amount owed is less than 50,000 yuan, the cardholder will most likely bear civil liability.

Legal Basis

Article 676 of the "People's Republic of China and Civil Code" The borrower's liability for late repayment of the loan. The borrower fails to repay the loan within the agreed time limit. , overdue interest shall be paid in accordance with the agreement or relevant national regulations.