1. What to do if you cannot repay the debts on several credit cards

If you cannot repay the debts on your credit cards, you can deal with them in the following ways:

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1. Make use of the time tolerance service of credit cards

Although credit cards have interest-free periods, they also set the final repayment date for each bill. Due to various reasons, the credit card is overdue because the money is not paid on the final repayment date. Most banks have a very user-friendly service - time tolerance service. Simply put, it means that the final repayment date of the credit card can be postponed for a few days. For example, if the last payment date is the 5th, you can postpone the payment until the 8th, which will not be considered overdue.

2. Modify the billing date of your credit card

If you know in advance that you will be under pressure to repay your credit card, you can call the credit card center before the credit card is billed and apply to modify the billing date. In this way, the current bill can be postponed for another month, and the entire repayment date will be postponed for one month, which will buy you one month to raise funds.

3. Make installments or make minimum repayments on your credit card

If all other methods fail, you can only make installments or make minimum repayments on your credit card bill. . This method is to pay more bank interest or handling fees to minimize credit card repayments and avoid overdue payments that will affect your credit record.

2. What are the consequences of overdue credit cards?

1. Bank collection. In modern society, more and more people are applying for loans and credit cards. If you are unable to repay the loan in time due to unemployment, job change, illness or accident, you can contact the bank in time to explain your financial situation and issue relevant certificates if necessary. Then pay off part of the debt appropriately, and then strive for delayed repayment and interest discounts.

2. New loan plan. The main purpose of the bank is to collect interest and handling fees. Therefore, if the user has good credit before and has no defaults, he can negotiate with the bank. Generally, the bank will agree to postpone the repayment. At this time, you can agree with the bank on a repayment plan that is acceptable to both parties, such as delay period, interest discount, monthly repayment amount, etc.

3. Non-performing small loans. Loans that are overdue for more than 90 days are considered non-performing loans. The longer they are overdue, the more troublesome they become. The overdue time and amount will be recorded on the credit report. Therefore, everyone can only choose to pay off the debt as soon as possible. Otherwise, if you want to go to a financial institution to apply for credit business in the future, it will be difficult to get another line.

4. Repair personal credit. Loans that are overdue for more than 90 days will still have negative records in the future even if they are fully settled. Only after 5 years, this bad record will be completely consumed, and subsequent banks will be able to view this record during approval. Therefore, the credit approval rate of this type of user group will be much lower than others.

3. How to repair overdue credit

1. If the credit overdue time is not very long, you can explain the situation to the lending institution, such as missed repayment time, equipment reasons, etc., and strive for a loan The institution is looking to see if it can help cancel overdue repayment records.

2. If the credit is overdue for a long time, then the individual must take the credit overdue seriously, ensure that the subsequent repayments are made in full and on time, and maintain a good personal credit record. When the credit record exceeds twenty-four After several months, the new record will overwrite the original overdue record.

Cardholders must find ways to repay their debts on time. For example: Cardholders can contact their family and friends and borrow money to pay off all their debts if they are able. Cardholders can also take the initiative to contact the bank to explain the reasons why they cannot use the credit card, hoping that the bank can agree to extend the repayment or delay the repayment.