What to do if you are unable to repay your credit card overdraft

If you are unable to repay the money you owe on your credit card, it is recommended that the customer negotiate amicably with the bank to extend the repayment period, and you can also try to apply for an interest suspension. If the repayment date has not yet arrived, the customer can also quickly apply for bill installments before the repayment date arrives, or pay the minimum repayment amount of the bill first. This can alleviate the repayment pressure and avoid overdue payments. And if you really don’t have any money, you can try to borrow money from your relatives and friends to pay off your credit card, and then pay it back to your relatives and friends when you have money later. If you need a lawyer to intervene, you can consult a professional lawyer on Hualv.com’s creditor’s rights and debts.

When a cardholder's credit card debt exceeds 50,000 yuan and there is a malicious overdraft, the cardholder may go to jail. But if the above conditions are not met, there are only three results.

1. If the judgment is to repay the debt, the cardholder can only borrow money from everywhere to repay the debt, otherwise the bank will freeze the credit card in the name of the cardholder and auction other assets to repay the debt.

2. The cardholder is judged to be repayable, but the cardholder is still unable to repay. At this time, the bank and the cardholder association will negotiate a repayment agreement, how much to repay each month, how many installments to repay, etc.

3. After the judgment, if the cardholder is still unable to repay and is unwilling to negotiate with the bank, the cardholder will be included in the list of dishonest persons and all subsequent high-consumption behaviors of the cardholder will be restricted.

What should I do if I owe money on my credit card?

The solutions to credit card debt that has not been paid for many years are:

1. Borrow money from relatives and friends to temporarily make up for the loopholes. If it is just a temporary situation, you will soon have enough money. funds; then you can borrow some money from relatives and friends, and then return it to them when the funds are in place.

2. Apply for deferred repayment. When emergencies occur, such as illness, hospitalization, unemployment, etc., you can contact the bank’s customer service. Just tell customer service your true situation and then apply for a deferral of repayment.

3. Apply for interest-free installment repayment. When the situation is serious and repayment is relatively more difficult, you can contact the bank’s customer service. Provide relevant materials to apply for suspension of interest payments and repayment in installments.

4. Negotiate with the bank to reduce credit card debt. If negotiation fails, you can use judicial authorities to reduce credit card debt.

What should I do if my credit card overdraft is not enough?

; 1. Repay the minimum repayment amount. Every bank will set a minimum repayment amount for credit card holders. As long as the card holder If a person can repay this minimum amount, then the bank will neither charge late fees nor affect personal credit. Generally speaking, this minimum payment is 10% of the bill amount. That is to say, if you spent 10,000 yuan last month and don’t have enough money this month due to unemployment or other reasons, you only need to pay back more than 1,000 yuan. However, it should be noted that if you choose the minimum repayment amount, although you will not be charged a late fee, you will be charged an interest of 0.05% per day. This interest is also a lot, so the borrower is best to repay all his bills as soon as possible. Minimum payment amount. 2. Take the initiative to negotiate with the bank. If the cardholder cannot even pay the minimum repayment amount of 10%, then do not choose to run away, that is, change the address and mobile phone so that the bank cannot be contacted. This is the worst way to deal with it. . You must know that from the day you apply for a credit card, your personal information and credit status will be recorded in the central bank's credit information system. No matter where you go in the future, unless you never deal with banks in this life, you will no longer pay water, electricity and media under your real name. No more fees, no more buying mobile phone cards, handling landline calls, and other things that require real names, otherwise the bank will find you, and your credit record will be blackened. It will be difficult and even possible to get approval for bank loans and credit cards in the future. It will affect your future employment. Once the minimum repayment amount cannot be paid, the best way is for the cardholder to contact the card-issuing bank immediately to explain his situation, saying that he does not owe the debt maliciously, but that he cannot pay it off immediately due to temporary changes in the economic situation. To apply for deferred repayment, generally speaking, as long as the cardholder takes the initiative to contact the bank, the bank will usually design a repayment method for the cardholder that is acceptable to both parties.

For example, defer the repayment of the outstanding amount for 1 to 2 months, discount the interest, or repay an amount acceptable to the cardholder every month. After all, once the cardholder cannot repay, the money will be considered a bad debt for the bank. Therefore, banks will be happy to save every cardholder who wants to repay but is temporarily unable to do so. If citizens need to use a credit card, they should strictly follow the regulations on credit cards of our country and the relevant card-issuing banks. If there is an overdraft, they should repay it in time. If it constitutes a credit card overdraft and overdue repayment, it must be It will have an adverse impact on the user's credit report and other aspects.

What to do if you don’t pay back the money you owe on your credit card

How to deal with the money you owe on your credit card: take the initiative to explain the situation to the bank and negotiate. If you are unable to repay the money for a period of time due to special circumstances such as work, you can proactively call the bank to explain the reasons and prove that the non-payment is not malicious. If the cardholder maliciously overdrafts to a certain amount for the purpose of illegal possession and fails to repay the amount overdue, it constitutes a credit card crime and he will also bear criminal liability. 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. 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 should I do if my credit card overdraft has expired and I still cannot pay it back?

The handling of a credit card overdraft that cannot be paid when it expires is the unpaid part of the minimum repayment amount and the part that exceeds the credit limit. 5 charges late fees and over-limit fees. A credit card, also called a credit card, is a credit certificate issued by a commercial bank or credit card company to consumers with qualified credit. It takes the form of a card with the name of the issuing bank, validity period, number, cardholder name and other contents printed on the front, and a magnetic stripe and signature strip on the back.

Legal Basis

Article 22 of the "Notice of the People's Bank of China on Issuance"

The card-issuing bank has a minimum unpaid balance for credit card holders If the repayment amount and the credit limit are exceeded, late payment fees and over-limit fees shall be charged based on 5% of the unpaid portion of the minimum repayment amount and the portion exceeding the credit limit respectively.

That’s it for the introduction of what to do if your credit card overdraft is not repaid.