1. How to negotiate with the bank if your credit card cannot be repaid

1. Call the bank’s credit card center to apply for negotiated repayment

Generally, customer service staff deliberately avoid this issue, or directly tell you that they do not have this business and require professional negotiation skills to respond. The processing speed of each bank is different, so you need to wait patiently. During this period, the bank will contact you by phone frequently to check the amount owed and negotiate repayment terms, such as whether to waive liquidated damages and interest. Be sure to pay attention when you answer the call, do not refuse the call or avoid it, otherwise the bank will think that you have no willingness to repay the loan and will try to escape from the debt, which will put you in an unfavorable situation.

2. Submit information as required by the bank

The key to negotiating overdue credit cards is to prove that you are indeed unable to repay the loan in full at once. You will usually be asked to show various Proof to prove that you really do not have the ability to repay the loan in full, such as unemployment, serious illness at home or yourself, business bankruptcy, etc. are all examples of this. When communicating with the bank, don't think that you are inferior because you owe money. Don't be humble or arrogant. If you have any difficulties, just tell them directly. Obtain relevant written certificates in a timely manner as required by the bank and submit them to the bank.

3. Wait for the bank’s review and approval and sign a repayment agreement

After submitting the information, the bank will decide whether to approve it based on your own situation. After approval, the bank will send you the payment via telephone recording, electronic or Sign a repayment agreement in paper form. The agreement will clearly state the number of installments and the amount of the installments negotiated in advance, and then the installment repayment will begin.

2. What are the consequences of not repaying the credit card

(1) High interest and liquidated damages

1. If the credit card is not repaid, the cardholder will not be able to repay the debt. If you continue to enjoy the interest-free period of your credit card, interest of 0.5% per day will be calculated from the day of consumption, and compound interest will be calculated on a monthly basis. A debt of tens of thousands of yuan will accrue thousands of yuan in interest within a few days. The longer the period, the higher the interest.

2. If the credit card interest-free period is exceeded and the payment is not made in time, the bank will charge liquidated damages from the credit card holder.

(2) Personal credit stains

1. As long as you have applied for a credit card or a loan, you will know how important your personal credit record is. Once your credit record is stained, Basically it will be very difficult to apply for a credit card;

2. This is not the most troublesome thing. The worst thing is that if you want to buy a house in the future and your credit is stained, the loan limit of the mortgage loan will be lower than that of others. It is higher than others. If your application is seriously overdue or even if you want to pay more interest, the bank will not lend.

(3) Credit card suspended

1. If the credit card is not repaid, the bank will take back the revolving credit granted to the cardholder, and the credit card will be suspended.

2. For multiple defaults on repayments or long-term defaults on large amounts, the bank will consider the cardholder to have a higher risk of repayment, and will stop using the credit card and ask the holder for payment. If the cardholder still fails to repay the credit card debt after being pursued by the bank, the bank may apply to auction the cardholder's other fixed assets.

Credit cards have a limited repayment time. If customers fail to repay on time, they will have overdue records and their personal credit will be damaged. In the future, whether they apply for loans or other aspects of their lives, they will be adversely affected. , so customers should develop the habit of repaying on time. If they have difficulty repaying, they should contact the bank in a timely manner to negotiate a solution that suits the interests of both parties.