What is a suspended account? How to apply?

Today we are going to talk about how to apply for a suspension of interest and pending debt after the credit card is overdue. First, correct the keyword. The correct name for suspended debt should be personalized installment repayment. Suspension of debt is just a popular term among us, and bankers do not recognize this term.

According to Article 70 of the Regulations on the Supervision and Administration of Credit Cards of Commercial Banks, under special circumstances if it is confirmed that the amount of credit card debt exceeds the repayment ability and the cardholder still has the willingness to repay, the card issuer may contact the cardholder. Cardholders negotiate on an equal footing to reach a personalized installment repayment agreement. The maximum term of a personalized installment agreement shall not exceed 5 years.

The debtor can apply for personalized installment if he meets the following three basic conditions

1. There is no property in his name. We have come to confirm that the amount of debt clearly exceeds the debtor's repayment ability. The current debt is too high and the income is too low. You can show proof of income.

2. On the premise that the debtor is willing to repay, he should take the initiative to negotiate and communicate with the bank after the due date. Generally it is 1-3 months overdue, so it is best to apply. After 3 months, the bank will outsource the processing to a collection company, so it will be a bit difficult to apply again, but as long as you are not sued, you still have a chance.

3. If there are reasonable reasons, such as failure to repay as scheduled due to external factors, such as unemployment, illness, company bankruptcy, etc., the bank will also agree to personalized installments. This personalized installment is not short-term. There is no need to repay, but if you still need to repay, you must repay as scheduled according to the agreement. Generally divided into 24 months to 60 months.

How to apply for personalized installment?

1. Before applying, you must have a complete idea plan. You must clearly know the usage of your credit card, which credit card is overdue, how much the overdue amount is and how long it has been overdue;

2 , How much is your monthly fixed income, how much can you pay back, and how many installments it can be divided into without affecting your normal life.

3. Analyze which bank will be beneficial to you to repay first, and explain to the bank in advance that you need to repay the principal first.

Article 57 of the Measures for the Administration of Credit Cards of Commercial Banks clearly stipulates: When the card-issuing bank receives the repayment from the cardholder, if it is overdue for 1 to 90 days (90 days inclusive), the interest or various fees shall be paid first. , and then repay the principal; if it is overdue for more than 90 days, the principle is to repay the principal first, and then the interest. You must understand this first.

After completing the above work, take the initiative to call the bank customer service to apply. After the call is answered, ask the customer service staff what their work number is and record it. Also proactively inform the other party that you are recording the phone call. Your attitude must be sincere. You must clearly state that you have difficulties and do not have the ability to repay the loan all at once, but you can guarantee on-time repayment after making personalized installments and have the ability to continue to repay the loan. , generally the first few applications will be difficult to succeed. If you continue to call after a few days, once you convince the customer service staff to help you submit the application, you are not far from success. If you don’t receive a notification from the bank in a day or two, you will Continue to call and continue the communication with the last customer service. Others asking for your money is equivalent to cutting off your flesh. If you ask the bank for exemption, it is also equivalent to cutting its flesh. Therefore, applying for a personalized installment bank will not be so casual. Just compromise, you must do it with an indomitable spirit until you succeed.

It is a matter of course that debts must be repaid. Let us debtors use reasonable and legal repayment methods to protect our legitimate rights and interests. Finally, I wish everyone can get out of the debt quagmire one day soon.