1. What to do if you can’t repay your credit card and bank loan

If you can’t repay your credit card or loan, you must take the initiative to contact the bank and loan to express that you can’t repay it. If it is not a malicious default, negotiate a repayment plan with the bank and lending institution. Credit card holders who cannot afford to repay their credit card debt can apply to the bank for installment repayment, or only pay the minimum repayment amount of the current bill, so that they do not have to pay so much money at once and reduce the repayment pressure. If you can't repay the loan, you can apply for an extension from the lending institution and then find a way to raise funds to repay it. If you maliciously overdraw your credit card, you are suspected of credit card fraud. Malicious overdraft refers to the cardholder's behavior of overdrafting beyond the prescribed limit or within the prescribed period for the purpose of illegal possession, and still refuses to return the card after being called upon by the card-issuing bank.

If personal credit cards and credit loans are not repaid, you should actively communicate and coordinate with the bank. You can pay in installments or reduce payments. If credit card fraud is involved, relevant legal action must be pursued. Responsibilities will be determined based on actual circumstances.

2. What are the consequences of overdue payment?

1. Overdue interest will be charged

No matter what kind of online loan you apply for, once the repayment is overdue, , in addition to notifying the borrower of timely repayment as soon as possible, the lending institution will also charge penalty interest (some products also have liquidated damages) in accordance with corresponding standards.

2. Overdue records will be recorded in the credit report

Although applications for Huabei, Jiebei, and Baitiao mainly refer to the Zhima credit score and third-party credit score of the party concerned. Only those with qualified credit scores are eligible to apply. However, once it is overdue, it may be reported to the central bank's credit reporting system, such as Alipay. Although many online loans have not yet been connected to the credit reporting system, they may be connected to the credit reporting system soon.

3. Will be subject to various collections

If the borrower fails to repay the loan, the lending institution will go through collection procedures in order to recover the arrears. Common ones include text message collection, phone collection, Door-to-door collection. Not only will your own life be affected by that time, but if you leave an emergency contact or your address book is read, your relatives and friends will also be harassed by various collection calls.

4. Will be blacklisted by the bank

People who have been blacklisted by the bank will not be able to take flights, high-speed rail, accommodation, etc.; what is more serious is that their children will not be able to attend key schools. School; there will be more punishments in the future, and it can be said that life will be difficult.

If the credit card cannot be repaid, the cardholder can borrow money from family and friends to pay off the credit card debt first, and then pay it back to the family and friends when they are able. If the bank loan cannot be repaid, the cardholder can proactively contact the bank, truthfully inform the bank of his or her personal situation, indicate the reasons why he or she cannot repay, and apply to the bank for an extension or postponement of repayment.