1. What should I do if I am unable to pay back my credit cards and all of them are overdue?
To take the initiative to negotiate with the bank for repayment, you can negotiate with the bank for an interest-rate suspension or personalized installments, which can reduce the repayment pressure in a short period of time. In special circumstances, if the amount of the debtor exceeds his repayment ability, but the debtor is willing to repay, the bank can negotiate with the debtor and sign a personalized installment repayment agreement. This is also the interest-free suspension of the credit card. . If the application is successful, it will greatly reduce short-term repayment pressure. If you are unable to repay the credit card debt, you can handle it in the following ways:
1. Use the minimum repayment function
The credit card bill will have a minimum repayment amount, and the cardholder can pay the minimum amount The repayment amount is repaid, but the unpaid principal will accrue a certain amount of interest.
2. Make installment repayment
If the credit card cannot be paid off at once, you can apply to the bank for installment repayment. You can call the customer service phone to handle it, or you can do it yourself on the bank APP. When handling it, it is recommended to divide the period into the longest period to reduce the repayment pressure, so as to avoid not being able to pay it off after maturity, causing overdue repayment and affecting personal credit.
3. Apply for an extension of repayment
If you have made installment repayments and are no longer able to repay, it is recommended to explain the situation to the bank in advance, apply for an extension, and set the repayment time to Then extend it a little. If it affects the approval process, the repayment time can be postponed, so that you can have time to collect money to repay the loan.
4. Borrow money from relatives and friends to repay the loan
Cardholders can borrow money from relatives, friends, etc. to repay the credit card debt, and then repay the money to relatives and friends when they have money on hand. .
2. Can I negotiate to repay the principal of my credit card debt?
1. For credit card debts, it is difficult to negotiate with the bank to repay only the principal, and banks generally will not agree easily. After all, credit card overdue penalty interest is calculated and charged daily at a daily interest rate of 0.5%. The interest rate is compliant and the fees are reasonable. Naturally, customers cannot fail to repay without any reason.
2. Of course, if only the principal cannot be negotiated, the customer can try to apply for an interest suspension. If the application is successful, interest will no longer accrue on the arrears (the previous interest has been recorded and still needs to be repaid) ); and you can try to apply to extend the repayment period and repay the debt in installments.
3. Everyone also needs to note that if the credit card is overdue for too long and the amount of debt is relatively large, some banks may consider reducing or exempting interest and penalty interest as appropriate in order to collect the money as soon as possible. .
4. Also, credit card bad debts are not necessarily caused by overdue debts, but may also be caused by overpayments. As for credit card bad debts caused by overpayments, customers only need to withdraw the overpayments as soon as possible, and then the credit card bad debts will naturally be eliminated.
Whether it is a credit card debt or an online loan, as long as the debtor borrows money from a financial institution, loan platform, etc., he needs to perform his obligations in accordance with the terms of the loan contract reached between the two parties at the time of borrowing. Repayment obligations, such as repaying principal and interest on time, etc., if you are unable to repay, you can negotiate with the credit card issuing bank.