1. What should I do if my credit card is overdue, negotiation cannot be done and I have no money?
If my credit card is overdue, negotiation with the bank fails, and I have no money to pay back, the customer can Try to borrow money from relatives and friends around you to repay the credit card. First collect enough funds to pay off the credit card debt, and then find a way to repay the money to relatives and friends when the funds are sufficient. At least discuss the repayment period with relatives and friends, and no interest will be charged.
General customers can also try to contact the bank customer service again for negotiation, explain clearly that they really do not have the ability to repay, and then apply for extending the repayment period, repaying the debt in installments, and they can try to apply for an interest suspension and hanging account. .
2. What will happen if you are sued for an overdue credit card?
1. The bank’s continuous reminders
When a borrower overdue repayment, the bank’s credit card customer service The center will first make multiple phone calls; if the payment is still outstanding, the bank will entrust a third party to collect the money, usually through continuous phone calls, text messages, or even door-to-door collection; after repeated calls for payment but not repayment, the bank will The court prosecutes.
2. Being sued by the bank and unable to apply for a loan
The cardholder will be added to the credit blacklist and unable to apply for a loan. The court will collect collection. After receiving the court summons, after investigation and Persuade and urge repayment, but if the cardholder refuses to repay, the court can take enforcement action; subsequently, the court will liquidate the cardholder's assets to repay the card debt and freeze the relevant property.
3. Malicious default will result in imprisonment and fines
If your credit card is overdue for three months, it can be considered a malicious overdraft penalty. However, if you communicate with the bank in advance and prove your repayment, If you have a repayment ability and a repayment plan, you will generally not face criminal liability. However, the court ruled that cardholders who still do not return will be dealt with in accordance with the "Criminal Law". In serious cases, they may face consequences of three years in prison and fines. In particularly serious cases, they may face longer term imprisonment of three to seven years and fines. fine.
3. How to calculate credit card installment interest
1. There is no interest after credit card installment, only the installment fee is charged.
2. Credit card installment fee = installment balance multiplied by the installment rate.
3. The credit card installment fee rate is generally related to the number of installments. The longer the installment number, the higher the fee rate.
If the credit card cannot be repaid when it is due, you can negotiate with the bank. If you are sure that negotiation cannot be done, you can only borrow money to repay the money, so as to ensure that you will not bear the overdue payment. If you are unable to afford the loan when applying for a credit card, you must not overdraw the credit card to avoid any impact on your life and work.