After your credit card expires, there is a third option. Negotiate with the bank and both parties will work out an acceptable installment repayment plan within the cardholder's ability.
If your credit card is overdue, the first thing to do is to pay off the balance in time and maintain good credit. If you repay the debt after the deadline, don't rush to close the account. You can use this card more and repair the credit card with a good credit record, and the overdue record will be topped by the good record. According to the law, if a credit card holder fails to repay the minimum payment amount for more than three consecutive months, the bank has the right to file a lawsuit in court. But under normal circumstances, if the cardholder is just overdue, the bank will not file a lawsuit in court. The bank will first contact the cardholder to urge them to repay. If the cardholder fails to repay the loan overdue or is unable to contact the cardholder after collection, the bank will file a lawsuit in court. Repaid in full. If conditions permit, credit card overdue fees and corresponding interest must be repaid; negotiate with the bank to resolve the issue. If you do not have the ability to repay, you can explain your actual situation to the bank official.
After the credit card is overdue, it cannot be repaid. If you apply for installment repayment, credit cards from major banks have the ability to repay in installments. Apply for deferment of repayment, proactively contact the bank to indicate that you have difficulty repaying, and apply for deferment of repayment; apply for the minimum repayment amount. Applying for the minimum repayment amount can maintain your credit and reduce the pressure of current repayment; borrow money to repay, borrow money from family, friends or online loan platforms to avoid continuous reminders from the bank.
A general description of the purpose of the loan so that the bank knows the general purpose of the money. Proof of insolvency (unemployment certificate, disease certificate, hardship certificate, bankruptcy certificate) No matter what the certificate expresses, the central idea is that it is indeed insolvent, so that negotiations can truly be promoted. When submitting an installment application, the bank must also ensure the safety of its own funds. Proof of income, based on the proof of income, how to make installments with the bank, how much to pay each month, and how much to pay.