The purpose of issuing a certificate of difficulty is to prove that the cardholder is a very low-income group and does not have enough money to repay at present. The certificate of difficulty should include your annual income, monthly income, family situation, reasons and degree of difficulty, etc. Banks generally need this certificate and there will be a standard. It is recommended to contact the bank for confirmation.
How to deal with the inability of credit card to repay:
1. Pay according to the minimum repayment amount. If it is only unable to pay off the debt at one time, the cardholder can pay back according to the minimum repayment amount of the bill first, and then pay off the debt when he is able to repay.
2. The bill can be divided into installments. If you are unable to repay the bill temporarily, you can pay a certain interest. Generally, the bill can be divided into six months, one year, etc., and the cardholder can divide it into installments according to his repayment ability.
3. negotiate with the bank. If you are unable to repay, you can negotiate with the bank to postpone the arrears.
The consequences of overdue credit card payment are as follows:
1. Bad credit record;
2. Interest: calculated at .5 ‰ per day;
3. Late payment fee: generally calculated as 5% of the unpaid part of the minimum repayment amount (depending on the regulations of each bank);
4. malicious overdraft of credit cards may also face criminal punishment;
5. Being blacklisted by the bank.
Legal basis:
Article 7 of the Measures for the Supervision and Administration of Credit Card Business of Commercial Banks
Under special circumstances, it is confirmed that the amount owed by a credit card exceeds the repayment ability of the cardholder > And the cardholder is still willing to repay, the issuing bank can negotiate with the cardholder on an equal footing and reach a personalized installment repayment agreement. The longest term of personalized installment repayment agreement shall not exceed 5 years.