The phenomenon of using credit cards to support credit cards and using loans to support loans is very common among young people. I know a friend who was born in the 1990s. His monthly salary is not high, but last year he and his relatives and friends I borrowed hundreds of thousands of yuan and added some of my own savings to scrape together a down payment to buy a small commercial house in Shenzhen.

Buying a house was a moment of joy, but after buying the house, they were faced with various debts. In the end, the couple could only overdraft their credit cards and borrow various online loans to repay relatives and friends, and they themselves owed Credit card and other debts incurred can only be maintained by paying off cards and repaying loans.

But this approach is obviously digging a hole for themselves, because their credit card overdraft balance is not small. Currently, the credit card overdraft is hundreds of thousands, plus other online loans, it is estimated to be three to four hundred thousand. The monthly credit card processing fee is one to two thousand yuan, which makes them feel even more stressed because their income is not high. To describe it as breathless is not an exaggeration.

What’s even more terrifying is that more than a year after buying the house, his wife had a baby and could only stay at home, and the company he had worked for for several years suddenly went bankrupt in April this year. This made their already debt-ridden situation even worse. Although he quickly found a new job, his monthly income was less than 10,000 yuan, and he faced a monthly payment of 6,000 to 7,000 yuan, plus 30,000 to 400,000 yuan in credit cards and online loans. , he simply couldn't repay it, so he could only keep applying for new credit cards, and then continued to overdraft the credit card and repay the card to extend the debt.

I believe that among young people, there are many people who have experienced similar experiences to this guy, and some people have even more serious experiences than this guy. But in the face of such a high debt, none of them actually have the same experience. A good way to solve it is to reduce the pressure as much as possible through reasonable debt planning, increasing revenue and reducing expenditure. First, you must plan your debt reasonably.

If you owe credit cards and online loans at the same time, you must first pay off those online loans with relatively high interest rates as much as possible, because the monthly interest on these online loans may reach more than 2% or 3% at any time. This interest rate is very scary. The longer the period goes by, the more interest you will pay.

Therefore, I suggest that you must find ways to pay off those high-interest loans first. Even if you overdraft your credit card, you must pay off these high-interest loans, so as to reduce interest expenses.

As for these overdraft credit card balances, if you can borrow money from relatives and friends, try to borrow money from relatives and friends. After all, most of the money borrowed from relatives and friends does not need to pay interest, and you only need to treat them to a meal. , which can greatly alleviate everyone’s interest expenses.

If you can't borrow money from relatives and friends, you can only extend the debt through credit card repayment. However, when using a credit card to repay a credit card, you must also pay attention to some skills. By reasonably adjusting the billing date and repayment date, you can maximize the interest-free period, which can reduce interest expenses. Second, find ways to increase your revenue streams as much as possible.

Whether it is borrowing money from relatives and friends, or paying back the card with a credit card, these methods are only temporary measures after all, not the fundamental way to solve the problem, because the money you owe will ultimately have to be paid with your own money. Still.

Therefore, if you want to pay off your debts, you must try every means to increase your sources of income. Whether it is your own job, part-time job or other small business, you should try your best to do what you can. Don’t feel that It's hard work, if you can persist for a while, maybe the debt will be paid off soon. Finally, be sure to watch your hands and don’t spend money where you shouldn’t.

I think one of the important reasons why many young people have a lot of debt is that they cannot control their own hands. Especially when credit card online loans are more popular, there are more and more channels for people to borrow money. The easier it is, many friends always like to use credit card overdrafts or apply for shopping installments, use Huabei and other methods to shop.

However, with this overdraft shopping method, no one can feel how much money is spent during the shopping process. As a result, many people may spend thousands or even tens of thousands of dollars without knowing it. , but when everyone goes back and looks at those bills, in fact, there are some things that are not necessary to buy at all.

Therefore, if you want to pay off your debts, I think that in addition to adding more sources of income, you must also control your own hands and plan your expenses reasonably. There is no need to spend Don't spend money where it belongs. Only by controlling your own hands can you keep money.

In short, in the face of huge debts, it is meaningless for everyone to blame others. Money will not fall from the sky. Therefore, if we want to solve the current predicament, we can only cheer up and work hard through our own efforts. Only by properly planning your debt can you pay off your debt.

There are too many people in this situation now, but to be honest, if this road goes down, most people will have only one final result: unable to extricate themselves.

The essence of using cards to support cards and loans to support loans is to postpone the immediate debt pressure to a longer period of time. But the debt won't go away, it will only get bigger as interest keeps rolling in. The current 100 yuan is not affordable, but what if it becomes 120, 150, or 200? I can only afford it more. Unless business suddenly picks up or good luck comes from heaven... But for most people, it is just a luxury hope. The author believes that you should carefully evaluate your income and debt situation at this time. There are two situations to deal with your own debt problem:

1. If your income and expected future income are expected to be able to repay the debt or at least cover the interest on the debt and have a surplus, you only encounter temporary funds. Difficulty, then as an emergency measure, occasionally using a credit card to support a credit card and a loan to support a loan will not have any serious consequences. One metric here is that total debt does not continue to increase.

2. If your income level will not change much in the foreseeable future and cannot keep up with the snowballing debt growth rate, then you should be cruel and face the current situation bravely. You may face pressure and pain, and decisively cut your losses. The methods are: 1. Never borrow new debts and sell assets that can be liquidated to repay debts; 2. To resist old debts, negotiate with banks and other creditors for interest exemptions and reductions, and negotiate a repayment plan. The consequence of this is damage to reputation, credit damage, and immediate pressure. But only by enduring the pain for a moment can you avoid the worries of a hundred days. If you want to avoid falling into the quagmire of debt and never recover, you must endure this pain. The general psychology of people is that they are most afraid of the pressure and pain in the present, and have an attitude of muddling through and waiting for the future when facing greater pressure and pain in the future. But if you want to get out of the big pit of debt, you can't do it without being tough on yourself.

This is not to encourage you to become a bad person, but to prevent you from becoming an even bigger bad person in the future. Selling assets and doing everything possible to repay debts requires the creditor to reduce or reduce interest and extend the time. Although the creditor may not be willing to such a request, it is still possible to accept it.

Using a card to support a card and using a loan to support a loan mainly refers to cashing out a credit card and repaying the credit card to keep the capital chain intact, thereby maintaining one's credit score. In the case of insufficient cash flow, I believe many people have done this. This kind of operation is okay for a while, but in the long run, it will inevitably enter an endless cycle, that is, the interest and handling fees will become higher and higher, and sooner or later it will be overturned. Crushing thunder. To break out of this cycle, we must obtain new sources of funds.

There are only two ways to obtain new sources of funding: one that treats the symptoms and the other that treats the root cause. To treat the symptoms, first borrow some funds from relatives and friends (low interest rates are also acceptable) to reduce credit card debt to a certain level, thereby reducing large amounts of interest and handling fees. After all, the interest rate of credit cards is not low and the cash out is illegal, so it is easy for banks to reduce the amount and hold them responsible; and the handling fees of reliable payment platforms are more than 0.7%. When there are many cards and the credit limit is high, such accumulated interest and handling fees The fees are quite astonishing. Therefore, using low-interest or interest-free funds to reduce debt can win a chance to breathe.

Of course, if you want to fundamentally get rid of this predicament and cure the root cause, you must increase your income—either by improving your work performance and getting opportunities for promotion and salary increase, or by working part-time to open up new jobs. income channels. In fact, many people know what to do, but what they lack is courage and execution. For some people who have credit card debts of tens or hundreds of thousands, as long as they are willing to work hard and spend a year or two, the root cause of the problem can still be solved.

Of course, after solving the problem, you must maintain a reasonable outlook on consumption and debt to avoid making the same mistakes again.

Using a card to maintain a card and repay the loan is actually a method often used by all current credit card holders or website borrowers whose current debt exceeds 100,000.

People who often use this method have two ideas. The first idea is that because of their short-term capital flow needs, maybe they will have funds in the short term and can fill this gap at once. Big hole.

Another idea is to extend the repayment time by maintaining a card for one or two generations, hoping to pay off this kind of loan through one's own working-class income.

Regardless of the above two ideas, the final result is this pit, which gets bigger and bigger the more you dig it. In fact, the final result is that there is no good result at all. Unless you can pay off all your debts at once.

Use a card to maintain a card

To use a card to maintain a card is to withdraw money from this credit card and keep it in another credit card, and then withdraw money from another credit card next month. Return this credit card.

In other words, for those who keep credit cards, they hold at least two credit cards and up to more than 10 credit cards, and the limit is basically more than 30,000.

The disadvantage of using a card to maintain a card is that a certain amount of handling fee will be charged every time the card is swiped. Moreover, you will use these credit cards for consumption in the course of your life. If you do not have a stable source of income, it will be difficult for you to pay off the debt on your credit cards in the next step.

Using loans to support loans

Using loans to support loans is actually more dangerous than using credit cards to support cards. Because the interest on online loans is higher than the fees associated with credit cards. Moreover, if you take an online loan, too much acceleration will affect your current credit report.

Online loans are full of chaos, so recently we have seen that the China Banking Regulatory Commission has introduced new relevant policies to rectify and rectify online loans.

How to deal with it, using credit card to support credit card and loan to support loan?

Faced with the behavior of using a card to raise a card or raising a card on behalf of someone else, no matter what stage you are currently at. Are you just starting to do this, or are you already unable to do it? All should stop cutting debt immediately.

Afterwards, the loan company or bank will negotiate and explain your current situation. But you must have the willingness and attitude to repay.

The second is to have a stable source of income while ensuring your own survival. Develop a repayment plan for 3 to 5 years so that you can have a chance to go ashore.

Taken together, the credit card cannot be entirely blamed on the cardholder or the lender. Relevant agencies should introduce a personal bankruptcy application system as soon as possible. Ease the current situation of widespread borrowing and widespread indebtedness.

Use a credit card to support a credit card, and use a loan to support a loan. Only those who have experienced it know how stressful it is.

So how to solve it? In fact, it’s just eight words: increase revenue, reduce expenditure, and plan rationally.

Please remember these two things first:

1: In any case, the cost of using a credit card is much lower than a loan. No matter how low the latter claims to have daily rates.

2: If you have liabilities on both credit cards and loans, give priority to repaying the loan. Because the loan interest rate is higher, and it is easy to compound interest once it is overdue. The credit card repayment method is more flexible, you can pay in full or use Didi coins to repay the balance.

Specific operations:

1: Sort out all liabilities under the statistical name. Just sort by date (repayment date) and type (credit card, online loan, small loan).

2: Count all your available funds, all the funds in your savings card, and how much support your relatives and friends can provide. Then pay off the immediate dues first, then the large loans, then the small loans, and finally the credit cards.

3: If all loans can be cleared, short-term credit card maintenance is feasible and the risk is low. So even if you apply for 2 more credit cards, you should give priority to clearing all loans.

4: Credit card repayment skills: When repaying a credit card, remember not to pay the lowest amount, and try not to make installments (unless it is absolutely necessary).

Core skills: recurring repayments and balance repayments (leaving 5% of the available balance on each card). Everyone knows that each credit card has its own billing date and repayment date, so try to stagger them so that you can pay off card A first, and then card A and card B. Of course, this is more troublesome, so you can use smart software such as Didi Biou to operate it. Everyone knows that credit card repayment can be done within 20 days from the statement date to the repayment date. Then we can go to Didi Biou public after the bill date. Make a repayment plan, and then the software will automatically consume and repay the money. The minimum repayment of 10,000 yuan is 52 yuan, and there is no credit check.

Through the above ideas and methods, I believe your debt pressure will be greatly reduced. Then the next thing to do is to increase revenue, reduce expenditure and work hard to make money. The first way to increase revenue and reduce expenditure is to develop a good habit of bookkeeping, and the other is to reduce all unnecessary expenditures. Just maintain the minimum standard of survival and stop worrying about face and what others think. Working hard to make money means using all your time and skills. In addition to taking breaks and eating, you have to find ways to make money. As long as you work hard, you will be able to turn around the difficult situation, and you will be able to survive even the desperate situation!

This is a bottomless pit. If only one card is derated or blocked, it may cause your abacus to collapse, so you should stop as soon as possible, enter the overdue state, and then deal with them one by one. , your situation is in the early stage of a collapse, and you will face it sooner or later, so deal with it as soon as possible

My friend advises you that no matter how much you owe, it is best to be honest and try to gain the understanding of your family. Never use If you take out a loan and support it, leave a way for yourself.

Using loans to support loans is a path of no return. Sooner or later, it will be overdue. The following are the consequences of using loans to support loans. Of course, there are also losses in the stock market. Part of it is already fully overdue. The monthly interest is now around 3,000, and I am working part-time to pay off the debt. . . .

Faced with this problem, let me first give you a piece of conscientious advice: you must stop using credit cards to support credit cards and loans to support loans. This method is more powerful than a tiger and more terrifying than the so-called loan sharking. At first glance, you may not think anything of it, but upon careful calculation, it is often more terrifying than loan sharking. The principal remains unchanged, and the interest paid increases with the number of card types, forming a vicious cycle. It is easy to imagine what the consequences will be, so it must be stopped.

We are adults. Before doing something, we must carefully consider the consequences. We must act with caution even if we can afford it. However, there are some consequences that we cannot afford, especially those with families and children. Drag the whole family into the abyss! Because we are adults and must pay for our actions. Those who say not to pay back are helpless and rogue. No matter when, people must not lose their character and dignity, otherwise it will be eternal failure. You can negotiate with the bank and find a way to fill the hole. Only then will everything turn around. Remember, malignant things need to be broken first and repaired secondly. One is indispensable! !

This practice of using cards to support cards and using loans to support loans cannot be sustained. The cost of credit card overdraft is high

When the repayment date comes, young people like to use this card to withdraw cash and pay back that card, thinking that they can continue like this. However, the cost of overdraft on credit cards is too high, and banks never do business at a loss.

For example, because a friend was in a hurry to use money, he used his credit card to withdraw 100 yuan in cash from a bank ATM. There was no charge reminder when he withdrew the cash, but he later discovered that he had been charged a 20 yuan handling fee. Withdrawing 100 yuan, a handling fee of 20 yuan was charged, which is an interest rate of 20%.

For example, the handling fee for domestic cash withdrawals from a certain bank is generally 1%-2.5% of the cash withdrawal amount. Interest on cash withdrawals is generally charged on a daily basis, starting from the day of withdrawal at a daily interest rate of 0.05% until the overdraft withdrawal amount and overdraft withdrawal handling fee are paid off.

For example, if you withdraw 10,000 yuan in cash, you will first need a handling fee of 250 yuan, and after 30 days, you will need an interest fee of 150 yuan. That is, if you withdraw 10,000 yuan in cash, you will need interest and handling fees of 400 yuan. Stop using credit cards to support credit cards and find ways to increase income

Using credit cards to support credit cards and loans to support loans will result in growing debt.

A friend of mine once used his credit card to cash out and some of his own savings to collect the down payment to buy a house. As a result, the debt became larger and larger, and he was finally forced to sell the house to pay off the debt. Even after selling the house, he still owed money to the bank. .

Young people must first find ways to borrow some money from relatives and friends around them to reduce their debts.

Secondly, you need to find ways to increase your work income, such as finding out which part-time jobs can increase your income and reduce your debt burden after work.

According to incomplete statistical surveys, China’s per capita debt has reached a terrifying 130,000! Among them, the number born in the 1980s is even more terrifying, reaching 200,000!

In fact, under the current economic trend, there is no shame in being in debt! Because most of the people walking down the street with you are in debt to one degree or another!

So what is important? What matters is where did your debt come from? Why did it happen?

Benign: The market is not good, the judgment is wrong, and the business fails! Car loans, home loans and more!

Vicious: gambling, squandering, being cheated, etc.!

It is definitely not feasible to use cards to support cards and loans to support loans!

So what kind of method can help us get out of the quagmire quickly?

Personally, I think it needs to be implemented in the following two aspects! The premise is that you must have the determination to get rid of debt, as well as a complete and detailed plan!

1: First of all, plan your debts in detail, including credit cards, online loans, and how much you have borrowed from relatives and friends! Those debts that must be repaid every month are mandatory, and those that can be reduced through installment, communication, monthly repayment amount, or extended repayment date!

Next, we will continue to calculate the minimum monthly repayment, the time period for repayment, and how much time it takes to pay it off!

Then count those items that urgently need to be paid off immediately, otherwise it will affect your normal life, or your credibility and reputation!

2: After we have calculated our debt situation, the next thing to do is to plan our repayment plan!

First of all, the part that needs to be paid off immediately is the most critical! As long as we solve this step, the rest will fall into place!

If you are a benign debtor, I believe you will have great abilities and can make your relatives and friends around you believe in you! Go to them, tell them your actual situation, and seek paid help! Solve your immediate needs first, and then use your own abilities to earn your minimum monthly repayment through various channels. I believe that after a period of time, you can get out of the quagmire!

If you are a vicious debtor, then I believe that all the friends around you have been borrowed from you, which means that you cannot get help from your circle of friends! This situation is very dangerous for you!

Then your only way is to find your family and let them help you! Because family is always your last resort, no matter how ridiculous things you do, when you are desperate, they will definitely help you out of the quagmire!

There is a misunderstanding here, that is, there are many debtors who are still unwilling to ask their families and parents for help when they are desperate! Because they feel sorry for their parents by doing this, and a small number of people dare not tell their parents at all!

Here, I think this is definitely a very serious misunderstanding. First of all, we must understand that in the eyes of family members, except for your life and death, everything else is a trivial matter to them! When you avoid the path of your family and choose other paths, there is a high chance that you will go further and further away in the future, and it will definitely be your parents who help you clean up the mess in the end! Instead of doing this, it is better to get your family together as soon as possible and work together with you to get out of the quagmire as soon as possible!

It is definitely wrong to use cards to support cards and loans to support loans! We need to find a way to stop it as soon as possible! Then the most important thing is to increase revenue and reduce expenditure! If you don’t have a source of income, it’s all bullshit!

I believe that after you have solved your urgent needs, through your own efforts, you will be able to completely solve these troubles in a short time!

Finally, I wish you a speedy landing!