1. What should I do if I am seriously ill and cannot afford to pay off my credit card?

If you are unable to repay your credit card (debit card) due to a serious illness, you can choose to negotiate with the bank for repayment. The bank will verify the user's true situation and then reduce or waive credit card (debit card) installment fees or overdue interest, etc. However, the user must return the principal used, and only in rare cases will the bank reduce or reduce the principal repayment. The user will then negotiate with the bank on the repayment time and amount, and just pay off the debt within the negotiated time.

Therefore, it does not mean that you do not need to repay your credit card (debit card) if you have a serious illness. If you do not repay the loan, you will encounter bank collection, and it will also cause credit stains on your credit report.

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

The consequences of overdue credit card repayment are serious, so overdraft consumption should be moderate. Although the biggest feature of a credit card is its overdraft function, it actually constitutes a loan relationship between the customer and the bank. Failure to repay when due may not only cause legal disputes, but also bear high penalty interest, and most importantly, Forming a bad credit record will have a negative impact on future work and life.

1. Bear high penalties and interest.

After a credit card defaults, the penalty fees usually involved are recurring interest fees and late payment fees. Revolving credit is essentially a small, unsecured loan that accrues interest on a daily basis. If the full amount is not repaid on the final payment date, revolving credit interest will accrue on the next statement, and the interest will be charged from the date the consumption is recorded. Calculate interest.

2. Cause legal disputes.

Violent collection of credit cards has become a hot topic. Many bank credit card centers outsource credit card repayment collection to some so-called "debt collection companies". These companies are good and bad, and their debt collection methods are relatively rough, which brings great consequences to customers. Troubled.

3. Leave a “credit stain” in the national credit reporting system.

As long as you apply for a card or get a loan at a bank, your own "credit report" will be automatically generated in the system. The "stains" in this report cannot be ignored, and it will affect When applying for various types of loans, insurance, job hunting, studying abroad, etc., bad records are generally retained abroad for 7 years. Citizens’ overdue negative records will no longer remain with them for life. If they can repay their loans on time and in full for five consecutive years, their credit will be clean.

When credit card holders are unable to repay due to various objective reasons, they must not evade debt repayment, such as not answering collection calls from the issuing bank, missing people, etc. Credit card debtors need to promptly resolve debt repayments. Contact the card-issuing bank and ask the card-issuing bank to explain the specific situation. If the card-issuing bank accepts it, it will allow deferred repayment and other procedures.