What to do if you can’t afford to pay off your credit card

1. Borrow money from relatives and friends to temporarily make up for the loophole. If it is just a temporary situation, you will have enough funds soon; then you can borrow some money from relatives and friends, and then return it to them when the funds are available.

2. Apply for deferment of repayment. When unexpected situations occur, such as illness, hospitalization, unemployment, etc., you can contact the bank customer service. Just tell customer service your true situation and then apply for a deferral of repayment.

3. Apply for suspension of interest payment and installment repayment. When the situation is serious and repayment is relatively difficult, you can contact the bank customer service. Provide relevant materials to apply for suspension of interest payments and repayment in installments.

4. Use the minimum repayment function. Every bank has a minimum repayment function. As long as the minimum repayment is paid, the bank will not charge late fees and will not affect your personal credit. However, interest will be charged for repaying the minimum, which is 50% interest per day. Therefore, as long as you repay the minimum, although the pressure will be reduced, compound interest will occur, which will be relatively troublesome, and it can only be used as a temporary delay.

5. Change the billing date to extend the repayment period. The billing time cannot be changed casually. Generally speaking, it can only be changed once every six months. Some banks change it once a year, and some banks can only change it once.

6. Take the initiative to explain the situation to the bank and negotiate. If you are indeed unable to repay for a period of time due to special circumstances such as work, you can take the initiative to call the bank and explain the reason. Prove that you are not malicious in refusing to repay, but there is indeed a reason. Discuss whether you can delay the repayment. Do not ignore the bank by changing your phone number. , this way my personal credit is gone, unless I will never deal with banks again.

What to do if the credit card cannot be paid and how to solve it

If the credit card cannot be paid, the best solution is to negotiate with the bank for repayment. The content of negotiated repayment can include deferred repayment, interest exemption, etc. After receiving the negotiation application, the bank will review it based on the user's specific situation. After the review is passed, the user can successfully negotiate. If the review fails, the user must pay off the overdue balance as soon as possible.

Only if the payment is overdue, the user can negotiate with the bank. Therefore, it is best for the user to repay the loan on time before it is overdue.

1. Various situations of overdue credit cards:

1. The credit card is overdue but has been repaid later

Many people will encounter this situation. In this case, it basically only affects the personal credit system. Your overdue status will be recorded in the credit reporting system.

If the overdue time is not long, it will basically not affect the use of the card.

2. If your credit card is overdue, negotiate repayment with the credit card center

When your credit card is overdue, you will usually receive a call from a collection officer to remind you to repay the credit card. Currently, credit cards can be repaid in installments. If there is a ++++ problem, you can negotiate the repayment with the credit card center. This situation is the same as the first one. It will affect your personal credit report, but it will not cause particularly serious consequences. as a result of.

3. Credit card center++, ++ mediation or enforcement

Some people in life are unable to pay off their credit cards because they are deeply in debt. At this time, the bank will file a lawsuit and pass the summons to the overdue user through ++. During the course of the lawsuit, the bank may also apply for property preservation, freeze the borrower's bank account, and seize vehicles and other real estate.

4. ++The evidence is not repaid and the amount is huge

In this case, the bank may charge you with ++crimes. ++According to Article ++ of the Criminal Law 196 credit card ++ crime for sentencing.

2. The worst consequences of not paying back your credit card are:

1. Going to the credit bureau: There is no doubt about this. If the user’s credit card repayment is overdue, the credit bureau will naturally be listed, resulting in Personal credit defaults will leave a stain on the credit report.

2. Penalty interest: Like a loan, if you use a credit card overdue, you will be charged penalty interest. Generally speaking, it is charged at the rate of 10,000 yuan per day, and the compound interest calculation method is used. Over time, it will be a very large amount. Big expenditure.

3. Collection: In addition to the collection department of the bank, it is also likely to be outsourced to a third-party collection company. Various collection methods and frequent collection frequencies are a problem for the debtor himself and his relatives and friends. A huge "test".

4. ++: There is a difference in the severity of the overdue situation. If it is just a general overdue payment and is repaid after collection, then it is not a big problem. It only takes a while to collect the credit, but If it is overdue for more than 3 months, the bank is likely to carry out ++. At that time, it will be listed as a breach of trust and will be enforced, and it will be very troublesome to limit high consumption.

What should I do if I owe money on my credit card?

The solutions to credit card debt that has not been paid for many years are:

1. Borrow money from relatives and friends to temporarily make up for the loopholes. If it is just a temporary situation, you will soon have enough money. funds; then you can borrow some money from relatives and friends, and then return it to them when the funds are in place.

2. Apply for deferred repayment. When emergencies occur, such as illness, hospitalization, unemployment, etc., you can contact the bank’s customer service. Just tell customer service your true situation and then apply for a deferral of repayment.

3. Apply for interest-free installment repayment. When the situation is serious and repayment is relatively more difficult, you can contact the bank’s customer service. Provide relevant materials to apply for suspension of interest payments and repayment in installments.

4. Negotiate with the bank to reduce or reduce credit card debt. If negotiation fails, you can use judicial authorities to reduce or reduce credit card debt.

What should I do if I can’t afford to pay off my credit card?

If you can't afford to pay off your credit card, you can negotiate with the card issuer to repay it in installments.

According to Article 70 of the "Regulations on the Supervision and Administration of Credit Card Business of Commercial Banks", under special circumstances, if it is confirmed that the amount of credit card debt exceeds the cardholder's repayment ability and the cardholder still has the willingness to repay, The card-issuing bank can negotiate with the cardholder on an equal footing to reach a personalized installment repayment agreement. The maximum period of a personalized installment agreement shall not exceed 5 years. The contents of the personalized installment repayment agreement should at least include:

(1) Arrears balance, structure, currency;

(2) Repayment cycle, method, currency, Date and repayment amount in each installment;

(3) Whether annual fees, interest and other fees will be charged during the repayment period;

(4) Cardholders will pay in personalized installments A commitment not to apply for a credit card from any bank before the relevant amounts of the loan agreement are fully settled;

(5) Rights, obligations and liability for breach of contract of both parties;

(6) Repayment Other matters related to payment.

If both parties reach an agreement and sign an installment repayment agreement, the card-issuing bank and its card-issuing business service agency shall stop collecting payments from the cardholder, unless the cardholder fails to fulfill the installment repayment agreement. If an oral repayment agreement is reached, the card-issuing bank must retain the recording materials. The recording data will be retained at least until the date of settlement of the debt.

Extended information:

Article 92 of the "Measures for the Supervision and Administration of Credit Card Business of Commercial Banks" Commercial banks shall implement classified management of credit card risk assets. The classification standards are as follows:

(1) Normal category: The cardholder can repay the amount payable in full before (and including) the due repayment date in accordance with the pre-agreed repayment rules.

(2) Category of concern: The cardholder fails to repay the amount payable in full on the due repayment date according to the pre-agreed repayment rules, and the number of overdue days is between 1 and 90 days (inclusive).

(3) Sub-category: The cardholder fails to repay the amount payable in full on the due repayment date according to the pre-agreed repayment rules, and the number of overdue days is 91-120 days (inclusive).

(4) Suspicious category: The cardholder fails to repay the amount payable in full on the due repayment date according to the pre-agreed repayment rules, and the number of overdue days is 121-180 days (inclusive).

(5) Loss category: The cardholder fails to repay the amount payable in full on the due repayment date according to the pre-agreed repayment rules, and the number of overdue days exceeds 180 days.

Commercial banks are encouraged to adopt a more prudent classification of credit card assets on the premise that the business system can support it, the classification operation is legal and compliant, and the classification method and data calculation method have been approved by the China Banking Regulatory Commission and its relevant agencies. standards, continue to pay attention to and regularly compare important risk management indicators related to reserve accrual, risk asset measurement and other aspects, and take corresponding risk control measures.

Baidu Encyclopedia - Measures for the Supervision and Management of Credit Card Business of Commercial Banks

This is the end of the introduction on how to deal with credit card debt.