The epidemic is so violent that many people are caught off guard. When they started to pay attention and found out, they were already seriously infected and could no longer care about their credit cards.

We also have to admit that there is a possibility of death in the face of the epidemic. If some credit card holders unfortunately die after contracting the novel coronavirus pneumonia, how will banks deal with their credit card debt?

If a cardholder dies due to the epidemic and the cardholder’s credit card statement comes out, the bank will first deduct money from the cardholder’s savings card. But what should I do if the balance of the deceased’s savings card is insufficient?

First of all, the bank cannot know in time that the cardholder’s patient infected with the new coronavirus has died. If the cardholder's bill comes out and the cardholder fails to pay on the final payment date, a credit report will be uploaded for overdue repayment.

Overdue penalty interest and late payment fees are also calculated. If the cardholder is in arrears for a long time, the bank will call the cardholder to ask for repayment. When the bank cannot contact the cardholder by phone, the bank will go through relevant legal procedures, the court will sue, and the court will go to the public security bureau to learn about the cardholder's relevant file records.

What will the bank do next when it learns that the cardholder has died?

The bank will first investigate the cardholder’s property. If the cardholder has real estate or a car in his name, the cardholder's assets will be frozen first. If the asset is inherited, the bank will pursue the debt from the heirs. The law stipulates that heirs must also inherit the debts of the deceased, and the amount of debts borne by the heirs is limited to the inherited assets.

For example, if the amount owed by the cardholder to the bank credit card is 200,000, but the cardholder’s assets and inheritance are only 100,000, then the heirs only need to repay the maximum inheritance of 100,000!

If the cardholder's credit card is used for various expenses in family life, the cardholder's spouse and family will be responsible for the repayment.

If the cardholder has no property inheritance or heirs, his dead debt will disappear, and the bank will not collect the credit card debt and can only deal with bad debts.

The central bank and major commercial banks have not released yet. If the cardholder dies due to the novel coronavirus infection, how to deal with the cardholder's credit card balance? In the absence of relevant regulations and policies, if the cardholder unfortunately dies due to infection, the bank will still handle it in the normal way.

To sum up, no matter what the reason is, when the cardholder fails to repay on time, the bank will proactively contact the debtor for repayment after the due date. If the payment is still not made on time after being contacted, or the bank is unable to contact the cardholder, it will contact the emergency contact to inform the bank of collection according to the agreement signed by the cardholder when applying for the credit card.

If the debtor fails to repay for a long time, the court will sue the cardholder until the cardholder’s death is known. If the cardholder's assets are inherited by heirs, the heirs are required to repay the credit card debt. Related Questions and Answers: I am seriously ill and unable to repay my bank credit card account. Related Questions and Answers: My friend owes more than 200,000 to his credit card. He is now in the advanced stage of lung cancer and has no ability to repay. What should I do?

If you cannot repay your credit card debt due to a serious illness, you can apply for a reduction policy from the bank. Whether the bank agrees or not depends on the bank's final investigation results and relevant policies.

If you are terminally ill and lose the ability to repay debts, will the bank still pursue debt collection?

In fact, under any circumstances, banks will not give up debt collection in principle. , even if the debtor dies, the bank can obtain the right to repay the debt from the debtor's estate. This is also stipulated in the law.

However, from a practical point of view, debts always end when "the debt disappears after death", which means that if the debtor dies, the debt owed by the debtor to the bank will basically be regarded as bad debts. After all, every bank has The specified bad debt rate, this kind of situation is originally within the bank's risk control factors.

Therefore, the first thing the friend of the subject should consider now is the treatment problem, not the debt problem.

You can take the initiative to explain the situation to the bank and strive for debt relief

Because as I mentioned above, the bank will never give up on debt collection at any time.

Therefore, if the friend of the subject loses his ability to repay due to illness and wants to stop repaying credit card debt, he must take the initiative to explain the situation to the bank.

Why you should take the initiative to explain the situation to the bank is not because you want to keep your credit record. It's because this can prevent banks from excessive debt collection.

At present, the overdue rate of credit cards is very high, banks are under great pressure to collect, and debtors are also making up various excuses to avoid debt repayment. Therefore, if you encounter such situations more often, you will get used to collecting money, and you can collect money in whatever way you want.

So, if the subject’s friend does not want to have to deal with the annoying ripening process when he is seriously ill, he should take the initiative to explain the situation to the bank and provide corresponding written evidence. This also allows the bank to provide a corresponding solution in advance.

At present, many banks have introduced some solutions and grace measures for personal serious illnesses

Banks have currently introduced two types of measures for cardholders’ emergencies.

Insurance measures

In fact, bank credit card centers are also selling insurance by the way. Many friends may have received such a call, saying that the cardholder is a high-quality customer screened by the bank. Invite customers to purchase some financial insurance or disease medical life insurance through credit cards. Of course, I know that most of my friends are very disgusted. In fact, if you really want to buy some insurance, I personally think that purchasing through a credit card is actually a very cost-effective option. First, you can enjoy insurance benefits, and the most important thing is that it supports banking business. In fact, it is very helpful for credit card use security and even increasing the limit. So if the friend of the subject purchases it, not only may he not have to pay off his credit card debt, he may even be able to get medical insurance premiums.

Preferential Policies

Of course, this is a series of preferential policies that every bank launches when issuing credit cards in order to obtain more card customers. For example, I know Shanghai Pudong Development Bank has such a policy. If the cardholder is seriously ill, he can enjoy a two-month deferment of repayment. Of course, it seems that two months is of no use to the friend of the question. However, banks cannot just launch a loan-free policy for terminally ill customers. Therefore, the subject can also ask friends to consult first to see what preferential measures can be enjoyed.

Of course, rationally speaking, it actually doesn’t make much sense whether the friend of the question wants the bank’s preferential measures at present, because the current cure rate for cancer is indeed very low. The most that can be done is to prolong life as much as possible with good medical measures. Therefore, the friend of the subject does not need to consider this issue at the moment. Just spend all your money and energy on the treatment of the disease.

If the debtor becomes seriously ill or dies, will the bank pursue repayment from his family and will it affect his family’s credit report?

Perhaps the subject’s friends are still worried about this issue.

In principle, for credit card debt, if the debtor becomes seriously ill and loses the ability to repay, the bank has no right to pursue repayment from the debtor’s family. The most serious thing is that the bank sues the court and then asks the court to enforce it. But if this is the case, then such a bank may be drowned in everyone's saliva. Moreover, even if it is to be executed, the debtor must have property in his name.

Secondly, if the debtor dies and leaves no inheritance, the debt can only terminate naturally and be included in bad debts by the bank. If there is an inheritance in the name of the debtor, then there are heirs who inherit the debt while inheriting the inheritance. Of course, this also involves that if the inheritance is not enough to offset the debt or is only enough to pay off the debt, the heir can also refuse to inherit, and then the inheritance will be processed by the bank to offset the debt. If the inheritance is greater than the debt, the heir will After inheritance, part of the estate can be used to repay debts, and the remaining estate can be disposed of by the heirs themselves.

Thank you for reading. I am MR Rui. I have 10 years of experience in entrepreneurship and finance. I focus on sharing knowledge about personal entrepreneurship, bank deposits, loans, credit cards, and investment and answering questions. Follow me, I will try my best to update the content every day.