1. What if the credit card owes 500,000 yuan and cannot be repaid?

1. Repay according to the minimum repayment amount.

If you can't repay in full in a short time, you can choose the minimum repayment amount. Generally speaking, as long as 10% of the bill amount of this period is paid in full, it will not be overdue, but the remaining unpaid amount will no longer enjoy the interest-free period, and interest will be paid in full from the date of consumption, with a daily interest rate of 0.5 ‰ and monthly compound interest. Therefore, the longer the overdue repayment time, the more interest.

2. modify the bill.

Modifying the billing date can extend the repayment period, which is equivalent to an extra interest-free period of one month. But this method does not apply to all banks, and the requirements of each credit card application platform are different. For example, China Merchants Bank can only make changes if it does not owe money. You'd better consult the issuing bank before doing this.

3. Negotiate with the bank.

When you don't pay back the credit card arrears, you can find a credit card application platform to negotiate repayment. After all, credit card non-repayment will not only affect personal credit, but also may be investigated for criminal responsibility. Because it can be characterized as malicious overdraft after being collected twice by the bank in March, the cardholder will negotiate with the bank before the deadline.

Second, can't overdue interest be reduced if you owe a credit card?

Yes, after the credit card is overdue, it can be reduced or exempted as long as it is not maliciously defaulted. It is a breach of contract not to repay after a credit card is overdrawn. The bank may require the cardholder to repay the principal, overdue interest, late payment fee and over-limit fee, etc. At the same time, the bank can apply to freeze the cardholder's card, list it as a prohibited customer (blacklist), and bring a lawsuit to the court for enforcement. For the purpose of illegal possession, the cardholder maliciously overdraws a certain amount, and the overdue amount exceeds 1 000. If the cardholder fails to return it after being urged twice by the issuing bank for more than 3 months, he is suspected of credit card fraud and will bear criminal responsibility.

Credit cards are generally overdue and should be repaid in time. After the credit card is overdue, the bank will send a text message and call for collection. Cardholders had better not resist. If a bank calls, answer the phone as soon as possible. Don't think that you can't answer the phone after the deadline, or change the number so that the bank can't contact you. In this way, the bank will only think that the cardholder is maliciously evading the debt and will call the cardholder's contact.

If the credit card is not paid back, the cardholder can borrow money from his family to solve the current urgent need, so at least he doesn't have to worry that the overdue will affect his personal credit information. You can also take the initiative to contact the issuing bank, truthfully explain your situation, and hope to negotiate with the bank to formulate personalized staging.