Hello, 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 credit card debt 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. The longest term of personalized installment repayment agreement is no more than 5 years!

1. What is a suspended account?

The suspension of interest arising from the suspension of bank account means that the borrower fails to repay the principal and interest of the loan on schedule for some reason, and the bank suspends the accounting treatment of interest on schedule, leaving the balance of the loan owed and the interest book lying down for later treatment. If the borrower fails to repay the loan according to the agreed repayment date after obtaining the loan, the loan and interest will not be repaid in a short time due to internal or external factors or reasons of the bank. For the needs of management or treatment, the loan balance is not treated with interest, but the loan principal balance and the previously unpaid interest are still recorded in the original borrower's name.

2. What are the conditions for applying for suspension of payment?

According to the provisions of Article 70 of the Regulations on the Supervision and Administration of Credit Cards, you can apply to stop payment if you meet the following four points:

Condition 1: the cardholder has the willingness to repay;

Condition 2: the cardholder has the ability to repay by installments;

Condition 3: the cardholder is overdue and cannot repay the arrears in one lump sum;

Condition 4: the cardholder wants to return to the normal living environment, stop the collection, and does not want to be executed;

After the credit card is overdue, it is essential to pay high liquidated damages and penalty interest. Many people like to pay back a little if they have money, but if they can't pay off with the principal, the penalty interest will be deducted from the returned money first, and the principal will hardly be reduced. As a result, the debt problem has been unresolved for a long time.

After the credit card is overdue, the cardholder should not blindly pay back the money. The bank's stop-and-pay plan can help us. If it is confirmed that the credit card debt exceeds the cardholder's repayment ability, the cardholder is still willing to repay, and the cardholder can negotiate with the bank on an equal footing to reach a personalized installment repayment agreement.