What should I do if I owe a lot of money on my credit card but I still can’t pay it off?

What should I do if I can’t pay off my credit card? 1. Borrow money from relatives and friends to repay: If you just encounter a problem, you can temporarily pay off the debt by borrowing money; 2. Apply to the bank for deferred repayment; 3. Apply to the bank to suspend interest rates and report the loss; 4. Negotiate with the bank to reduce the amount Repayment amount. If negotiations fail, you can go to the bank and get a judicial credit card to reduce your debt.

It is a settlement tool for credit card savings/spending loan lines. When a general user applies for a credit card, the bank will evaluate the user's situation and then provide a corresponding limit within the user's repayment ability. Under normal circumstances, users have the ability to repay their debts, but if an emergency occurs, the repayment ability will be insufficient. Next, I'll tell you what to do if you can't afford a credit card.

1. Borrow money from relatives and friends to temporarily make up for the loopholes.

If it is just a temporary situation, you will have enough funds soon; then you can borrow some money from relatives and friends, and then pay it back when the funds are in place.

What to do if you don’t pay back the money you owe on your credit card

How to deal with the money you owe on your credit card: take the initiative to explain the situation to the bank and negotiate. If you are unable to repay the money for a period of time due to special circumstances such as work, you can proactively call the bank to explain the reasons and prove that the non-payment is not malicious. If the cardholder maliciously overdrafts to a certain amount for the purpose of illegal possession and fails to repay the amount overdue, it constitutes a credit card crime and he will also bear criminal liability. Article 196 of the "Criminal Law": Credit card crimes. If the crime involves one of the following circumstances, whoever engages in credit card activities and the amount is relatively large shall be sentenced to not more than five years or criminal detention, and shall also be fined not less than 20,000 yuan but not more than 200,000 yuan; If the amount is extremely huge or there are other particularly serious circumstances, the sentence shall be not less than five years but not more than ten years, and a fine of not less than 50,000 yuan but not more than 500,000 yuan; A fine of not less than RMB 500,000 but not more than RMB 500,000 or confiscation of property may be imposed: (1) Using a forged credit card, or using a credit card fraudulently obtained with false identification; (2) Using an expired credit card; (3) Pretending to use another person’s credit card ; (4) Malicious overdraft. The term "malicious overdraft" as mentioned in the preceding paragraph refers to the cardholder's behavior of overdrafting beyond the prescribed limit or within the prescribed period for the purpose of illegal possession and failing to return the card after being called upon by the card-issuing bank. Anyone who uses a credit card at the same time shall be convicted and punished in accordance with the provisions of Article 264 of this Law.

What to do if you cannot repay the money you owe to a credit card

The solutions to the problem of being unable to repay the money you owe to a credit card are as follows:

1. If you are temporarily unable to repay the debt, you can contact the creditor Negotiate installment repayment, deferred repayment or debt reduction;

2. If the other party does not agree to defer or reduce debt, the debtor must actively respond to the lawsuit and strive to achieve installment repayment in court. Or the purpose of repaying within a time limit;

3. If the other party does not agree to postpone or reduce the debt, the court will not support it and will repay all the debt within a time limit. If you are able to repay but refuse to pay, the creditor can apply for enforcement. However, compulsory execution will not lead to imprisonment, because civil liability does not involve criminal issues;

4. If the debtor really has no money to repay:

(1) The execution officer knows that the party concerned It is impossible to execute without money;

(2) If the party has money and refuses to return it, the person can be arrested, including judicial detention or criminal liability for refusing to fulfill an effective judgment;

5. The people follow legal procedures and clarify specific execution contents based on legally effective documents, forcing civil obligors to complete their obligations to ensure that the rights of obligees are realized.

Legal basis: Article 678 of the "People's Republic of China and Civil Code"

The borrower may apply to the lender for an extension before the expiration of the repayment period; loan If the person agrees, it can be extended.

Article 214 of the "Civil Procedure Law of the People's Republic of China"

For cases retried by the people in accordance with the trial supervision procedures, the legally effective judgments and rulings are If the judgment or ruling is made by the first instance, it shall be tried in accordance with the procedures of the first instance, and the parties may appeal against the judgment or ruling made; if the judgment or ruling that becomes legally effective is made by the second instance, it shall be tried in accordance with the procedures of the second instance, and the judgment or ruling made by the party may be appealed. A ruling is a legally effective judgment or ruling; if the people at a higher level bring the case to trial in accordance with the trial supervision procedures, the case shall be heard in accordance with the second instance procedure, and the judgment or ruling made is a legally effective judgment or ruling.

When the people hear retrial cases, they should form a separate collegial panel.

How to solve the problem of credit card repayment

You can negotiate with the bank for repayment, or use the credit card bill installment or minimum repayment to reduce the pressure of repayment. If the credit card Being overdue for a long time will have a negative impact on our credit report. If the behavior is worse, the bank will also use the judicial department to enforce repayment.

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1. As the threshold for applying for credit has been lowered in recent years, more and more people have credit cards. Now most people have more than one credit card. Although Credit cards can solve some financial difficulties in life, but credit cards also make us dependent on them, and excessive pre-consumption can also result in large credit card bills. If there is a problem with our repayment ability, we will face an overdue credit card, and our credit report will be stained

2. First of all, we must know that the money on the credit card must be repaid. If we want to reduce the pressure on credit card repayments, we can simply pay off less, or postpone the repayment date. It is impossible to default on your debt, so the bill installment and minimum repayment functions of credit cards can solve the problem. However, it is worth noting that certain interest and handling fees will be incurred for the minimum credit card repayment and later bill installments. If you don’t want to bear excess interest, it is still not recommended to consider bill installment.

3. If you really encounter problems with repayment, or you have no ability to repay, you can negotiate repayment with the bank. We We can tell the bank our true situation, inform the bank of the reasons for our overdue and the difficulties we encountered, and we need to provide relevant materials to prove the authenticity of what we said. We can formulate our monthly budget based on our own income. If a repayment plan can be negotiated, it will be of great benefit to us. We don’t have to worry about credit problems, and we will also enjoy lower interest rates to repay in installments.

4. If you fail to pay off your credit card, you will inevitably bear the consequences. In addition to repaying the huge overdraft and interest, you will also bear legal liability. Therefore, some card friends will give up on themselves and feel that they owe so much and they can't pay it off anyway, so let it go. In fact, if you can't pay off your credit card, you should find a way to solve it. If you still can't make up the amount, you can choose to pay in installments. Applying for the maximum installment payment can not only alleviate the pressure of monthly repayment, but also not incur more interest. Or the minimum monthly repayment, the ratio of the minimum repayment amount is generally 10% of the total bill. As long as you ensure that you repay according to the minimum repayment amount every month, your personal credit will not be affected, and there will be no late payment fees.

That’s it for the introduction of what to do if you owe money on your credit card.