What should I do if I can’t pay off my credit card?

What should I do if I can’t pay off my credit card? Now the editor will introduce it to you.

1. State your financial situation, affirm that you do not owe money maliciously, and apply for delayed repayment and interest discounts. What to do if you can't pay off your credit card? State your financial situation, declare that you don't owe money maliciously, and apply for delayed repayment and interest discounts.

2. In view of the cardholder’s active performance and previous good credit record, the bank will often agree to defer the repayment, and will work with the cardholder to agree on a mutually acceptable repayment plan, delay period, and interest discount. , monthly repayment amount, etc.

If you take the initiative to contact the bank and get the bank's consent to postpone the repayment, you will not be recorded as a bad record. However, it should be noted that you will be guaranteed to repay as agreed in the future.

3. If you forget to repay due to negligence, you must repay the loan as soon as possible after it is overdue, preferably in full. Then call the bank's credit card center and declare that the debt is not malicious. If the record has been good in the past, and the overdue time is short, and it is found that the repayment is good after the overdue period, it may not be recorded as a bad record. Don't be careless in the future. Be sure to pay attention to the bank's bill notifications and collection information to avoid overdue payments.

4. Credit card repayment information will be recorded by the central bank's credit reporting system on a rolling basis for 24 months. That is to say, bad credit records caused by overdue credit card repayments will be kept in the credit reporting system for two years. If terminated with a card, the corresponding records will no longer

scroll, but will be saved for a long time. Therefore, after overdue repayment of a credit card, it is best not to cancel the credit card immediately after paying off the debt. Instead, you should insist on using the card for more than two years and keep your credit in good condition during the period. In this way, you can rely on rolling records to remove bad records from your credit report. Remove it from the system.

2. What will happen if the credit card is overdue for one month?

The bank will charge late payment fees and interest. The late payment fee is calculated as 5% of the unpaid portion of the minimum repayment amount. The specific calculation formula is: late payment fee = (minimum repayment amount - repayment amount as of the due payment date) × 5%, with minimum and maximum limits. At the same time, the bank will also charge 0.05% interest on the credit card bill every day.

If the cardholder fails to repay the minimum repayment amount before the repayment due date (inclusive) on the bill notice of the current month, the account will be collected by the card center collector on the day after the next bill date. Carry out telephone collection; if the customer has not paid off the minimum repayment amount within the specified time, the system will automatically issue a collection letter or the collector will issue a collection letter based on the account's telephone collection status and actual arrears. If the following situations occur, the bank will come to collect the debt:

1. The collection through letters and phone calls is invalid, and it exceeds the last repayment date (overdue) for two cycles (60 days);

2. Unable to be contacted by phone or letter;

3. It is found that there may be higher risks in collection by letter or by phone.

What to do if the credit card cannot be repaid

If the credit card is not repaid, you can apply to the bank for minimum repayment or deferred repayment. If the overdraft amount reaches more than 10,000 yuan for the purpose of illegal possession, and the card-issuing bank still fails to return it after two collections for more than 3 months, it is suspected of malicious overdraft. Cardholders can explain to the bank their willingness to repay, the fact that they are temporarily unable to pay off their credit card debts, and their future repayment plans, and banks will generally grant relief.

According to Article 7 of the "Regulations on the Supervision and Administration of Credit Card Business of Commercial Banks": A credit card refers to a credit card that records cardholder account information, has bank credit lines and overdraft functions, and provides cardholders with relevant banking services. All types of media.

Credit cards stipulated in the relevant laws of our country ("Interpretation of the Standing Committee of the National People's Congress on Relevant Credit Card Regulations") refer to credit cards issued by commercial banks or other financial institutions with the functions of consumption payment, credit loans, transfer settlement , deposit and withdrawal of cash and other full or partial functions of electronic payment cards [1-2]. On December 1, 2017, the "English Translation and Writing Standards in the Public Service Field" was officially implemented, stipulating that the standard English name of credit cards is CreditCard.

Credit card consumption is a non-cash transaction payment method. There is no need to pay cash when consumption, and repayment will be made on the billing date (BillingDate).

Credit cards are divided into credit cards and quasi-credit cards. Credit cards refer to credit cards in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; quasi-credit card It refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund as required. When the reserve account balance is insufficient to pay, the cardholder can overdraw within the prescribed credit limit. The so-called credit card generally refers to a credit card only.

Starting from January 1, 2021, the credit card overdraft interest rate will be determined independently by the card issuer and the cardholder through independent negotiation, and the upper and lower limit management of credit card overdraft interest rates will be cancelled. The daily interest rate is 0.7 times 5/10,000).

On May 25, 2021, the Supreme People’s Court issued and implemented the “Regulations of the Supreme People’s Court on Several Issues Concerning the Trial of Bank Card Civil Cases.”

What should I do if I can’t pay off my credit card?

Instalment payment. Applying for the maximum amount of installment payment can not only relieve the pressure of monthly repayment, but also not incur more interest. Choose the monthly minimum repayment function. The minimum repayment amount is generally 10% of the total bill. As long as you ensure that you repay the minimum repayment amount every month, it will not affect your personal credit and will not incur late payment fees. To apply for a deferment of repayment, go to the bank to apply for a deferment of repayment and state a clear repayment date, then you will have three days to defer repayment. Find someone to repay the credit card on your behalf, find some institutions or individuals that repay the credit card on your behalf, and you only need to pay the interest to the individual or institution that repays the credit card on your behalf every month for the time being. If citizens are unable to repay credit cards and online loans, they can solve the problem by paying the minimum repayment amount, using the bill installment function, and actively negotiating with the bank to explain the situation. Then when using a credit card, you must pay attention to the repayment date and repayment date. If the party fails to fulfill its repayment obligations in a timely manner, it will not only result in a certain late payment fee, but will also affect its own credit record.

What should I do if my credit card cannot be paid? Teach you three ways to deal with it

Many credit card users will encounter this situation: they overspent this month, resulting in the inability to repay the credit card debt on time. So what should cardholders do?

If you only pay the minimum repayment amount, there will be an ultra-high daily interest rate of 0.5%. If you default until the next month, even if it is overdue, there will be a bad record on your personal credit record. Miss Han encountered this situation.

Ms. Han used a credit card to buy a large refrigerator that she had always wanted to buy last month. Since Ms. Han has a good income, she plans to pay back the unpaid credit card when her salary is paid this month

clear. It was originally a very common thing, but unexpectedly, Miss Han received ten wedding invitations in a row this month. After attending the market wedding banquet, Miss Han completely became a moonlight tribe. Since the credit card cannot be repaid on time this month, Ms. Han is very anxious and does not want to have a bad record on her personal credit record. However, she does not have the money to repay the loan. Ms. Han does not know what to do.

At this time, if the cardholder encounters a situation where the credit card repayment is not paid, do not panic. You can use the following three methods to deal with the problem to avoid unnecessary fees.

1. Borrow money from friends and repay the loan

You can borrow money from friends or relatives to repay the credit card first. This will not only prevent the repayment from being overdue, but also will not damage your personal credit record. Have a bad credit record.

2. Call the bank to apply for a deferment of repayment

If you do not want to borrow money from relatives and friends, you can also call the bank to apply for a deferment of repayment. Usually banks will provide one to two days of deferment of repayment. Some banks provide it automatically, while others require you to call to apply. However, this method cannot be used frequently, and the bank will not agree to it every time, and it may also reduce your credit card limit.

3. Installment payment

Although installment payment requires payment of handling fees, installment payment reduces the financial pressure of cardholders to a great extent. Cardholders can call the bank to apply for installment according to their needs. The fewer the period, the lower the handling fee.

Please choose the first method first. If it doesn’t work, then use the second method. If it still can’t be solved, then use the third method. In short, these methods are more cost-effective than just paying the minimum repayment amount.

What should I do if I can’t pay off my credit card?

You have to find a way to pay it back even if you don’t pay it back. You can’t afford to let this debt go unanswered. After your credit card is overdue, the bank's own collection department will call and send you text messages to collect the money. The method will be more civilized. However, after collection fails, the case is usually transferred to an outsourced collection company.

The specific time it will take for the transfer to be transferred, I summarized here is after about 3 months of bank collection with no results. After you go to an outsourced collection company, there will be no lower limit to this method. There are all kinds of threats, intimidation, and even door-to-door visits.

You have to find a way to pay it back even if you haven’t paid it yet. You can’t afford to let this debt go unanswered.

After your credit card is overdue, the bank's own collection department will call and send you text messages to collect the money, and the method will be more civilized. However, after collection fails, the case is usually transferred to an outsourced collection company. The specific time it will take for the transfer to be transferred, I summarized here is after about 3 months of bank collection with no results. After you go to an outsourced collection company, there will be no lower limit to this method. There are all kinds of threats, intimidation, and even door-to-door visits. In addition, after transferring to a third party for collection, they will call you or your family every day. During the call, you and your family will make the other party think that you can receive the money, or that you still have certain financial capabilities. Wait, but if you never pay back, the other party may come to your door to further scare you and force you to pay back the money.

How to avoid this situation. In fact, it is easy to solve. If it is really difficult, you can explain your difficulty when the debt collector calls you, and pay an appropriate amount every month to let the bank see your difficulty and actual willingness to repay. . Then the conditions are not met. But I don’t recommend this very much, because debt collection will keep pestering you and your family! Here are three ways to deal with it

1. Ask relatives and friends for help

That is, borrow money, but this method is still relatively difficult, unless it is some close friends, or They are close relatives, otherwise it would not be easy to borrow. When borrowing money, it is best to have a better repayment plan. If possible, make an IOU and pay some interest. This will make it easier to gain trust.

2. Take the initiative to negotiate with the bank

If the credit card cannot be repaid, it is best to negotiate with the bank for repayment. You must know that it is very troublesome to pay the overdue credit card. Apart from the impact on your credit, you may also be investigated for criminal liability. After all, if the bank has not paid the debt twice in three months, it can be classified as a malicious overdraft. Therefore, it is recommended to deal with it as soon as possible.

3. Find a professional third-party company for debt optimization

If you don’t know how to negotiate with the bank, then you can consider finding a third-party professional company to handle it. Based on your actual situation, they will give you a reasonable solution, so that you can stop losses in time and protect your legitimate rights and interests!

What to do if the credit card is not paid?

What to do if the credit card is not paid. Credit card overdraft behavior is a debt relationship.

The specific handling methods are as follows:

1. If the credit card is not repaid, the cardholder should take the initiative to contact the card issuer, explain the current facts and reasons for the repayment, and strive to obtain the card issuance The grace period of the bank;

2. If the credit card cannot be repaid, if you have fixed assets, you can provide fixed assets as security to try to re-formulate the repayment plan;

3. If the credit card is really not enough and the card issuer does not extend the processing, the cardholder cannot adopt a passive approach. They can find someone else to repay the balance and pay off the credit card debt first to avoid being sued by the card issuer.

The main features of credit cards:

1. Credit cards are one of the fastest growing financial services today. They are an electronic currency that can replace traditional cash flow within a certain range;

2. Credit cards have both payment and credit functions. Cardholders can use it to purchase goods or enjoy services, and can also obtain certain loans from card issuers by using credit cards;

3. Credit cards are high-tech products that integrate financial services and computer technology.

4. Credit cards can reduce the use of cash;

5. Credit cards can provide settlement services, facilitate shopping and consumption, and enhance a sense of security;

6. Credit cards It can simplify the collection procedures and save social labor;

7. Credit cards can promote product sales and meet social needs.

Credit card applications need to meet the following conditions:

1. First, citizens who are over 18 years old and have civil capacity are required.

2. It is required to have a stable income and provide proof of income, firstly to prove the ability to repay, and secondly to use it as a reference for setting the credit card limit. If you have successfully applied for a credit card, you can use the card to apply for a card, and the process will be much easier.

3. The personal credit report must be good and have no bad records.

4. Whether you can successfully apply for a credit card is also related to your occupation. For example, security, self-employed, farmers, etc. are more difficult to successfully apply for. However, the editor learned that some banks have launched "Benefit Cards" for farmers.

5. Generally speaking, a stable job is a necessary condition for successfully applying for a credit card. Of course, this is not absolute. For example, many universities now have card processing services specifically for college students. This is to apply for a credit card unconditionally. College students only need to bring their personal documents and student ID cards to the bank to apply for it.

6. Foreign and overseas personnel and active-duty military officers who receive the card in their own name should provide a temporary household registration issued by the local public security department or a certificate issued by the relevant department, and must provide a guarantee unit that meets the guarantee conditions or have a local household registration. , a guarantor working locally.

Main types

According to different card issuers, they can be divided into bank cards and non-bank cards

Bank cards. This is a credit card issued by a bank. Cardholders can shop at the card-issuing bank's special merchants, and can also withdraw cash at any time at any branch of the card-issuing bank or at places with ATMs.

Non-bank card. Such cards can be specifically divided into retail credit cards and travel and entertainment cards. Retail credit cards are credit cards issued by commercial institutions, such as department stores, petroleum companies, etc., which are specially used for shopping in designated stores or refueling at gasoline stations, etc., and are settled regularly. Travel and entertainment cards are credit cards issued by the service industry, such as airlines, travel companies, etc., and are used for purchasing tickets, meals, accommodation, entertainment, etc.

I have a credit card but I don’t know what to do with it. That’s it for now.