Personalized installment repayment

Credit card interest suspension is suspended, which means that if the cardholder cannot repay the credit card debt on the final payment date due to special circumstances, the cardholder has repayment. If you wish, you can negotiate and sign a personalized repayment agreement with the bank. The repayment can be divided into up to 5 years. Although no interest will accrue during this period, you need to repay a portion of the principal and handling fees every month as stipulated in the agreement. To put it simply That means stopping interest and repaying in installments or deferred.

After the credit card is overdue, as long as it is not a malicious default, it can be reduced. Failure to repay the credit card overdue is a breach of contract. The bank can require the cardholder to repay the principal as well as overdue interest, late payment fees, over-limit fees, etc. At the same time, the bank can apply to freeze the cardholder's card and classify it as a prohibited customer ( Blacklist), sue the court and apply for enforcement. If a cardholder maliciously overdrafts a certain amount for the purpose of illegal possession, and the card is overdue by more than RMB 10,000, and the card-issuing bank has collected it twice and still fails to pay it back more than three months later, he is suspected of credit card fraud and must bear criminal responsibility.

Overdue credit cards should generally be repaid in a timely manner. When a credit card is overdue, the bank will send text messages and phone calls to collect payment. It is best for cardholders not to resist. The bank will call and answer the call as soon as possible. Do not think that you can not answer the phone or change your number because you have no money to pay overdue. If the bank cannot be contacted, the bank will only think that the cardholder is maliciously avoiding debts and will call the cardholder's contact person.

Suspension of interest is a solution after the credit card is overdue. The overdue interest on the credit card can be reduced or exempted, but it must be approved by the issuing bank. To apply for a credit card, you must meet legal conditions. Applicants must be over 18 years old, have stable financial resources, and must not have a bad credit record. Both natural persons and legal persons of companies can apply for credit cards.

If the bank agrees to suspend interest rates and debit accounts, the bank will negotiate with the cardholder to reach a personalized installment repayment agreement. The cardholder can repay the debt in up to 60 installments, which can alleviate the problem. Credit card users are under repayment pressure. After reaching a negotiation, credit card users must repay on time as agreed upon after the negotiation and avoid overdue behavior twice.

Benefits of suspending interest payments

1. As the name suggests, suspending interest will put less pressure on overdue cardholders.

2. Installment repayment gives overdue cardholders a lot of space and time to repay.

3. After negotiating the suspension of interest payments, as long as the negotiated installment repayment plan is implemented, the bank will not collect letters or calls, etc., and life will no longer be anxious.