1. Stop payment means that when a credit card holder is unable to repay the credit card arrears due to special reasons, he can negotiate with the bank and apply for the bank to suspend the calculation of interest and leave the arrears for later processing. To put it simply, stopping payment means suspending interest, and the arrears are recorded first and then paid back;
2. Negotiation is generally divided into two situations, one is repayment by installments, with a maximum of 60 installments, and the other is one-time repayment through interest reduction and penalty interest.
The application process for suspending interest payment is as follows:
1. Call the official phone of the bank to make an appointment for repayment;
2. Negotiation:
(1) For banks, there will be special appointments for VIP customers alone, but most banks are reluctant to make an appointment for repayment.
(2) Once the reservation is successful, the cardholder can negotiate the repayment with the bank staff in detail.
3. negotiation. Express your strong willingness to repay, such as agreeing with the bank how long it will be repaid in the future;
4. After negotiation, a new repayment agreement can be signed with the bank. It must be noted that after negotiation, a new repayment agreement should be signed with the bank, for example, the new installment repayment amount and the beginning of the repayment cycle. During this period, cardholders can get time to stop and pay the bill, thus gaining more time to buffer the pressure of debt repayment;
If negotiation fails, you can sue the bank through legal channels and apply for stopping payment.
Legal basis: 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. The longest term of personalized installment repayment agreement shall not exceed 5 years.
The contents of personalized installment repayment agreement shall at least include:
(a) the balance, structure and currency of the arrears;
(2) the repayment period, method, currency, date and repayment amount of each installment;
(three) whether to charge annual fees, interest and other fees during the repayment period;
(4) The cardholder shall not apply for a credit card from any bank before all the funds related to the personalized installment repayment agreement are settled;
(five) the rights and obligations of both parties and the liability for breach of contract;
(6) Other matters related to repayment.
If both parties reach an agreement and sign an installment repayment agreement, the card-issuing bank and its card-issuing service institution shall stop the collection of the cardholder, except that the cardholder fails to perform the installment repayment agreement. If an oral repayment agreement is reached, the issuing bank must keep the recorded data. Records shall be kept at least until the date of settlement of arrears.