1. How to deal with overdue credit cards

Generally speaking, once the cardholder is unable to repay the loan on time due to unemployment, illness or other accidents, in the end, Before the repayment period arrives, it is best to proactively call the bank's credit card center to explain your financial situation, declare that you have not intentionally overdue, and apply for installment repayment or suspension of interest payments.

If the cardholder has a good credit record before, the bank will usually agree to the application and negotiate with the cardholder a repayment plan that is acceptable to both parties, such as a deferment period, interest discount, and monthly repayment amount. wait. In this way, if the repayment agreement is reached with the consent of the bank, it will not be recorded as a bad record. However, it should be noted that it should be ensured that the repayment can be made in time as agreed. Once it is overdue again, the bank will not agree and hold the card. The people negotiated the repayment.

2. What are the consequences of an overdue credit card?

1. Overdue repayment will result in credit card arrears interest, which is charged at 0.05 of the daily interest rate, and the annual interest rate is 18, which is very high. . In addition, the bank will also charge liquidated damages, usually 5% of the overdue amount.

It should be noted that liquidated damages are charged on a monthly basis, but they are not charged only when one month is overdue. Even if one day is overdue, one month's liquidated damages will be charged.

2. The most troublesome thing is overdue due to poor personal credit record. Overdue credit card repayments generally cannot be overdue three times in a row or six times in total. Once it exceeds, personal credit will be very bad. Whether applying for a credit card or a loan, it is difficult for cardholders to successfully apply. And once a personal bad credit record is generated, it will take five years to completely delete it.

3. Will you be sued if your credit card is overdue?

You may be sued because it is more than three months overdue and the cardholder still has not paid off the debt after two effective collections by the bank. If so, the bank has the right to apply to the court to sue the cardholder for repayment. If a credit card is sued for a late payment, the court will order the cardholder to make repayment.

So don’t blindly avoid collection, because if the credit card is overdue for a long time, the bank may really sue the cardholder. Moreover, if you avoid collection, you may be suspected of malicious overdraft. If the overdue amount exceeds 50,000 yuan, you may be imprisoned.

In short, the above is all about how to deal with overdue credit cards. I still recommend that everyone actively communicate with the bank before the credit card is overdue. Don’t wait until it is overdue before thinking about repayment. This is very difficult. The negotiation was successful.

If you are sued for overdue payment, please consult a legal advisor below for one-on-one online communication to resolve the case.