Generally speaking, after the overdue credit card debt becomes a bad debt, the cardholder can contact the bank customer service to apply for negotiated repayment. If the overdue card is maliciously overdue, the possibility of successful negotiated repayment is very low. Only if it is proven that the cardholder is not maliciously overdue will the bank be able to agree to negotiated repayment by the cardholder. According to the current regulations of various banks, you will be prosecuted for bad credit card debts within three months. Generally, when there is a bad debt on a credit card, the bank will make multiple collections. If the individual fails to explain the situation to the bank and fails to repay the debt, the bank will sue the cardholder after more than three months.

Credit card bad debts usually refer to receivables that have been stagnant for a long time and may become bad debts after collections have passed.

For credit card bad debts, you can negotiate to only repay the principal, but it is more difficult because banks generally will not agree. After a bad debt occurs on a credit card, interest will be charged every day based on 10,000 percent of the penalty interest rate. The interest rate is legal and reasonable. The bank will definitely not easily agree to reduce such a large amount of overdue penalty interest. If the negotiation for principal repayment is unsuccessful, the user can apply for a suspension of interest and account suspension. After the application is successful, no penalty interest will be calculated later, but the interest accrued before the application still needs to be repaid. In addition, cardholders can also apply for deferred repayment, installment repayment and other negotiated repayment methods.

The following is a detailed introduction to how to best deal with bad debts under different circumstances:

The first type: overdue bad debts. The best and only way to deal with overdue bad debts is to pay them off as soon as possible. If you owe money, remember not to cancel the card immediately after repayment, but continue to use the credit card.

The second type: annual fee bad debts. For credit card bad debts caused by arrears of annual fees, it is recommended that users repay the money in time. After paying off, if they no longer use the card, they can cancel the account, and the credit card bad debts will become Overdue records

The third type: bad debts with overpayments. The method of dealing with bad debts with overpayments is very simple. You just need to take out the overpayments. After taking them out, you can cancel the credit card and other related associations. account, and finally you can ask the bank to cancel the bad debt record on your credit report.

In summary, after credit card bad debts are dealt with, it is recommended that cardholders check their credit reports one month later to confirm whether the bad debts have been eliminated. The above is all about "Can you negotiate to pay back only the principal of bad credit card debts? What is the best way to deal with bad credit card debts?" I hope it will be helpful to you.