This year is a special year, catching up with the epidemic and making many people who used to have jobs unemployed. Although the epidemic has gradually stabilized, many people are still unemployed.

When I lost my job, my income was cut off at once, but the money owed by my credit card was paid back quickly. What should I do?

As we all know, credit cards do not pay back. Once overdue, they will not only face penalty interest, but also leave a bad record in the credit report.

What should you do if you can't repay your credit card at this time? Don't worry, there is actually another trick that can help you, and that is "stop paying the bill".

Next, let's learn what it means to stop paying interest, what are the conditions and what are the consequences.

0 1

What is a stop-and-go account?

Suspension of interest refers to the lender's failure to repay the principal and interest on schedule for some reason. After consultation, the bank suspends interest calculation on schedule, and the principal and interest owed are temporarily suspended for subsequent treatment.

But this must be used under special circumstances.

According to Article 70 of the Measures for the Supervision and Administration of Credit Card Business of Commercial Banks:

Under special circumstances, if it is confirmed that the amount owed by the credit card exceeds the cardholder's repayment ability and the cardholder is still willing to repay, the issuing bank can negotiate with the cardholder on an equal footing and reach a personalized installment repayment agreement.

In other words, as long as this condition is met, you can apply for the exam.

But in fact, there are still relatively few people who meet this condition, which means we still have to do everything possible to pay back the money first.

02

Application conditions for suspension of interest payment

Next, let's take a look at what are the conditions for a stop-loss order, and whether you are really suitable for a stop-loss order:

Too much debt: obviously beyond the repayment ability: for example, you owe a credit card of 654.38+ million now, but the actual salary last month was only 5000, which is obviously beyond your repayment ability, and you can't pay it back even if you want.

The debtor communicates with the bank in advance: after the debtor owes money, he needs to communicate with the bank in time and tell the bank customer service that he is not maliciously overdue, but that something really happened recently and he can't afford to pay back the money.

The reasons for not paying back the money should be reasonable: when paying back the money, the reasons for not paying back the money must be reasonable, such as sudden unemployment, bankruptcy, being cheated, etc. And you need a letter of confirmation.

Only when these three conditions are met can we apply to the bank to stop paying interest and get the approval of the bank to realize "stopping paying interest".

03

Don't pay the bill, okay?

In fact, credit card repayment is a very helpless way, and it is best not to use it unless it is absolutely necessary.

Because when using a stop-and-go account, it actually has a certain impact on individuals.

Although there is no need to pay back the money temporarily after the order is stopped, it is also a breach of contract, and there will be records after the deadline, and the pass rate of applying for bank loans and credit cards will be greatly reduced in the future.

After all, you give the bank the impression that you may not be able to pay back the money in the future.

It may be difficult to apply for cash withdrawal by credit card in the future, and it is necessary to repay the loan on time according to the agreement after stopping interest payment. If it is overdue, the consequences will be equally unimaginable.

In short, don't stop paying bills unless you have to. You should make a reasonable budget at ordinary times, live within your means, and try to find a job as soon as possible after you have no job. This is the root of solving the problem.