What to do if you cannot repay the money you owe to a credit card

The solutions to the problem of being unable to repay the money you owe to a credit card are as follows:

1. If you are temporarily unable to repay the debt, you can contact the creditor Negotiate installment repayment, deferred repayment or debt reduction;

2. If the other party does not agree to defer or reduce debt, the debtor must actively respond to the lawsuit and strive to achieve installment repayment in court. Or the purpose of repaying within a time limit;

3. If the other party does not agree to postpone or reduce the debt, the court will not support it and will repay all the debt within a time limit. If you are able to repay but refuse to pay, the creditor can apply for enforcement. However, compulsory execution will not lead to imprisonment, because civil liability does not involve criminal issues;

4. If the debtor really has no money to repay:

(1) The execution officer knows that the party concerned It is impossible to execute without money;

(2) If the party has money and refuses to return it, the person can be arrested, including judicial detention or criminal liability for refusing to fulfill an effective judgment;

5. The people follow legal procedures and clarify specific execution contents based on legally effective documents, forcing civil obligors to complete their obligations to ensure that the rights of obligees are realized.

Legal basis: Article 678 of the "People's Republic of China and Civil Code"

The borrower may apply to the lender for an extension before the expiration of the repayment period; loan If the person agrees, it can be extended.

Article 214 of the "Civil Procedure Law of the People's Republic of China"

For cases retried by the people in accordance with trial supervision procedures, the legally effective judgments and rulings are If the judgment or ruling is made by the first instance, it shall be tried in accordance with the procedures of the first instance, and the parties may appeal against the judgment or ruling made; if the judgment or ruling that becomes legally effective is made by the second instance, it shall be tried in accordance with the procedures of the second instance, and the judgment or ruling made by the party may be appealed. A ruling is a legally effective judgment or ruling; if the people at a higher level bring the case to trial in accordance with the trial supervision procedures, the case shall be heard in accordance with the second instance procedure, and the judgment or ruling made is a legally effective judgment or ruling.

When the people hear retrial cases, they should form a separate collegial panel.

What should I do if I cannot repay the money I owe to a credit card?

If you cannot repay the money you owe to a credit card, you can call the bank’s credit card customer service center. At this time, you can apply for an extension of repayment. Generally, banks will agree to it. Yes, but certain fees may be incurred when deferred repayment. After the bank agrees, it can effectively prevent your personal credit score from becoming bad, and you can repay the loan on time in the future.

Credit cards also provide users with installment repayments or minimum repayments when individuals are unable to repay. These two repayment methods can effectively reduce the monthly repayments, but they require a certain fee. Generally, you choose the number of installments based on your monthly income.

When using the minimum repayment amount, you generally only repay 10% of the current bill. Although the repayment amount is reduced, interest will be accrued on all consumption amounts in the current period from the date of borrowing. This repayment method There is a lot of interest paid, so users should use it with caution to avoid paying a lot of interest.

When an individual is unable to repay the loan on time, he or she can borrow money from friends around him to repay the loan. This can avoid the situation of not being able to repay the loan on time. However, in the future, the loan must be returned to the friend on time. This method of repayment also avoids It saves interest expenses, but it cannot be used frequently, otherwise it will cause resentment among friends.

Extended information:

The consequences of being unable to repay credit card debt:

1. If it is only temporarily repaid and can be repaid later, it will only accrue interest. And late payment fees only.

2. However, if you know that you have no ability to repay and repay the overdraft principal of more than 10,000 yuan, and still fail to repay the loan for more than 3 months after two calls from the bank, it is suspected of constituting a malicious overdraft and may be subject to criminal punishment. punishment.

What should I do if I can’t afford to pay off my credit card?

1. Realization of mortgage assets: Although many people have no money, they have many realizable assets in their names, such as houses, cars, etc. , you can consider mortgage-liquidating these assets to obtain fund repayment. Generally, they are not liquidated at the original price, so there will be a slight loss. It is suitable for people who owe a lot, cannot raise enough money, and are at risk of being punished.

2. Be honest with your family about borrowing money: If you can’t pay off the credit card debt by yourself, it’s better not to shoulder it. It’s better to be honest with your family and see if you can get their help to pay it back simultaneously. If your family members don't have money, ask relatives and friends to borrow money. Make an IOU and write down the repayment time, interest, etc., and borrow the best you can. Don't complain if you can't borrow. No matter how close you are, there is no obligation to borrow money.

3. Actively negotiate for repayment: Even if the credit card debt is not paid, do not lose contact and run away. Don’t miss the bank’s collection calls. If you have no money, you must also express your willingness to repay. See Can repayment be negotiated? If the bank says you want to go, don't panic. It will be an opportunity for those who are temporarily unable to repay. It will be easier to negotiate through mediation when the court is held.

4. Increase revenue and reduce expenditure to increase income: Reduce unnecessary expenses and stop buying impractical things. The key is to work hard to increase your income. In addition to doing your job well, you can also make money by opening Didi, delivering food, etc. Don’t be afraid of having more money, but be afraid of not having it. The more money you have, the easier it will be to get out of trouble.

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