However, if the cardholder fails to repay the arrears within the time limit, the bank will not respond to repeated reminders or even contact anyone, resulting in more and more overdue penalty interest, which will eventually lead to more and more arrears, and the bank may still sue. After all, if the overdue time exceeds three months, the bank has the right to sue.
It is suggested that cardholders pay off their debts quickly, otherwise the delay will be too long and the amount to be repaid will only increase day by day. Bad information will also be left in the personal credit report, which will damage personal credit, and the credit card is likely to be frozen by the bank and cannot be used again. If you can't finish it at once, you can pay it back first. When the bank sees that the cardholder keeps repaying the money and can recover the money, it will naturally not sue.
Extended data:
How to talk about the relief of overdue credit cards;
If you want to reduce the interest after the credit card is overdue, you can apply to the issuing bank to stop payment. If the application is successful, the arrears will no longer generate interest and will naturally decrease. However, it should be noted that the interest generated by the previous arrears will not be exempted, and it is better to put it on the bill together with the principal. The customer needs to pay it off on time.
And even if the customer directly applies for interest-free, the bank will probably not agree. If the customer fails to pay for a while, he can try to extend the repayment period and repay the arrears in installments while applying for suspension of interest payment. In this regard, the bank will consider it as appropriate.
As long as the customer does not intentionally repay, but does not have the repayment ability, the bank may agree, and then the customer can repay in installments according to the repayment plan newly negotiated with the bank.
Of course, it is best for customers to avoid overdue situations and develop a good habit of repaying on time. If you find that you can't pay off the bill in full, you can actually apply for bill installment before the repayment date, or pay off the minimum repayment amount of the bill first.
What if the credit card is overdue?
If the negotiation of interest reduction and exemption after the credit card expires is unsuccessful, the customer can actually do nothing. After all, banks charge penalty interest at a daily interest rate of five ten thousandths. Within the normal interest rate range, there is no violation, so it is very difficult to directly exempt interest.
However, customers can try to apply for suspension of payment. If the application is successful, although the interest generated before can not be exempted, at least the interest will not be accrued after the arrears, which can also reduce the repayment burden of customers.
Of course, it is best for customers to pay off their debts as soon as possible. The sooner they pay back, the less overdue penalty interest will naturally arise. Even if it's not clear for a while, try to pay it back. If the total overdue amount drops, the interest will be less.
Of course, customers who can't pay off in the short term should take the initiative to contact the bank's customer service to negotiate, try to apply for an extension of the repayment period and repay the arrears in installments. Banks understand that customers have the willingness to take the initiative to repay and will not easily sue customers. Generally, the bank has the right to sue if it is overdue for more than three months. Therefore, customers should never evade payment directly after the deadline.