1. What to do if you owe several credit cards and you can’t pay it off

(1) You can choose to negotiate repayment with the bank of the credit card. If you are unable to repay the loan due to special reasons, such as disability, unemployment, major illness, etc., you can submit the information for the bank to review. After the review is passed, you can generally negotiate for repayment.

(2) Take the initiative to contact the card-issuing bank for negotiation and apply for a suspension of interest rates to see if the repayment period can be extended and repaid in installments. The bank will consider it as appropriate.

(3) Borrow money from relatives and friends and repay it, write down an IOU, promise to repay the money within a certain period of time, and then repay the borrowed money to the loan first, and then the funds will be sufficient. , and then pay back the money to relatives and friends to avoid any impact on your credit report.

2. What to do if the credit card repayment is overdue

1. Continue to use it

After it is overdue, the best way is to continue to use this card and use a new one. The normal repayment record covers the original negative record. Generally, a new credit record will be generated after 24 months, so that personal credit, etc. will not be affected after the record is refreshed.

If you are overdue for a long time, your credit card will accrue interest and there will be high late payment fees. If you run away, the bank will think that you have maliciously overdrafted and will call the police.

2. Apply for delayed repayment

If you are unable to repay on time due to unemployment or illness, before the final repayment deadline arrives, state your financial situation and declare that you do not owe money maliciously. , you can apply for delayed repayment and interest discounts.

3. Repay in full and on time

If you forget to repay due to usual carelessness, you must repay in full as soon as possible after discovering that it is overdue, preferably in full, because the full amount is After repaying the amount, you have the best chance of winning by calling the bank to explain that the debt is not malicious and requesting that the overdue record be eliminated.

If the perpetrator fails to repay the overdue credit card, it will not necessarily lead to jail time. It also depends on the actual situation. Only when the overdue amount is large, more than three months overdue, and the repayment has not been repaid despite two bank collections, will it constitute a crime, that is, credit card fraud

If the credit card debt is not paid, the cardholder can proactively contact the bank where the card was issued, indicate his current situation, explain that he did not intentionally fail to repay, and negotiate with the bank to formulate personalized installments. If the bank agrees to re-establish the repayment plan, the cardholder must repay the loan on time within the specified time and no more overdue payments will occur.