What should I do if I can’t pay back the money I owe on my credit card?

If you have a credit card debt and cannot pay it back, you can refer to the following methods:

Use the minimum repayment function

Each bank will have a minimum repayment amount Function, as long as you pay the minimum repayment amount, the bank will not charge late fees, nor will it affect your personal credit. Generally speaking, the minimum repayment amount is 10% of the total bill amount. For example, if you spent 10,000 yuan on your bill this month, The minimum repayment is only 1000010%=1000 yuan.

However, interest will be charged for repaying the minimum, which is 50% of the interest per day. Therefore, you only need to repay the minimum. Although the pressure will be reduced, compound interest will occur, which will be relatively troublesome, and you can only For temporary delay.

The direct impact is to create a bad credit record in the People's Bank of China's credit reporting system, which will affect your future credit business such as loans and credit card applications.

Secondly, the bank will call for payment;

Finally, if the payment is not received for a long time, it may even violate the criminal law.

For the sake of your personal credit, it is recommended that you try to repay the loan as soon as possible.

Article 196 of the "Criminal Law of the People's Republic of China and the People's Republic of China" Whoever engages in credit card activities under one of the following circumstances and the amount is relatively large shall be sentenced to not more than five years or criminal detention, and shall also be fined 20,000 yuan A fine of not less than 200,000 yuan but not more than 200,000 yuan; if the amount is huge or there are other serious circumstances, a fine of not less than five years but not more than 10 years, and a fine of not less than 50,000 yuan but not more than 500,000 yuan; if the amount is particularly huge or there are other particularly serious circumstances, a fine of not less than 50,000 yuan but not more than 500,000 yuan. More than ten years or more, and shall be fined not less than 50,000 yuan but not more than 500,000 yuan, or property confiscated:

(1) Using a forged credit card, or using a credit card fraudulently obtained with false identification;< /p>

(2) Using an expired credit card;

(3) Pretending to use another person’s credit card;

(4) Malicious overdraft. The term "malicious overdraft" as mentioned in the preceding paragraph refers to the cardholder's behavior of overdrafting beyond the prescribed limit or within the prescribed period for the purpose of illegal possession and failing to return the card after being called upon by the card-issuing bank. Anyone who uses a credit card at the same time shall be convicted and punished in accordance with the provisions of Article 264 of this Law.

What to do if you owe too much on your credit card and cannot repay it

You can negotiate with the bank and apply for minimum repayment or installment payment. The two parties have negotiated, so that they will perform their obligations and will not bear any responsibility. If they refuse to pay, they will definitely be punished. Even if you are unable to repay your credit card, you still need to find a way to repay it. Cardholders can apply for minimum repayment or repay in installments. If the cardholder cannot repay on time due to unemployment, illness, etc., he or she can proactively contact the bank to which the credit card belongs, explain his or her situation, indicate that the debt is not malicious, and apply for delayed repayment and interest discounts. The standard for registering a credit card case is 50,000 yuan for a malicious overdraft on a credit card. If the amount is larger than 50,000 yuan, Article 196 of the "Criminal Law" shall apply. The larger amount shall be punished by a sentence of not more than five years or criminal detention, and a fine of not less than 20,000 yuan and 200,000 yuan. A fine of less than RMB 10,000. Article 196 of the "Criminal Law": Credit card crimes. If the crime involves one of the following circumstances, whoever engages in credit card activities and the amount is relatively large shall be sentenced to not more than five years or criminal detention, and shall also be fined not less than 20,000 yuan but not more than 200,000 yuan; If the amount is extremely huge or there are other particularly serious circumstances, the sentence shall be not less than five years but not more than ten years, and a fine of not less than 50,000 yuan but not more than 500,000 yuan; A fine of not less than RMB 500,000 but not more than RMB 500,000 or confiscation of property may be imposed: (1) Using a forged credit card, or using a credit card fraudulently obtained with false identification; (2) Using an expired credit card; (3) Pretending to use another person’s credit card ; (4) Malicious overdraft.

Legal basis: Article 196 of the "Criminal Law" Credit card crime. If the crime falls under any of the following circumstances and the amount is relatively large, the person shall be sentenced to not more than five years or criminal detention and shall also be fined 20,000 yuan. A fine of not less than RMB 200,000 but not more than RMB 200,000 shall be imposed; if the amount is huge or there are other serious circumstances, the penalty shall be not less than five years but not more than ten years, and a fine of not less than RMB 50,000 but not more than RMB 500,000; What should you do if you owe a credit card and you can't repay it? You can apply for the minimum repayment service. If you can't repay the minimum repayment, it is recommended that you negotiate with the bank and apply for an extension of repayment. Generally, the reason is legitimate and the bank will give you You are lenient, but if the bank does not agree, then ask your friends to borrow money to repay. After paying off the money owed to the credit card, you can find a way to raise money to repay your friends in the future.