under special circumstances, if it is confirmed that the amount owed by the credit card exceeds the cardholder's repayment ability 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, that is, it can be divided into 6 installments at most. However, as for how many installments can be divided, it depends on the result of negotiation between the cardholder and the bank. When negotiating repayment, the cardholder and the bank should agree on the balance of arrears, currency, repayment cycle and method, except whether the principal is charged annual fees, interest and other fees.

however, it should be noted that although the credit card is unable to repay the arrears after it is overdue, it is indeed possible to negotiate repayment with the bank, but the bank may not necessarily negotiate with you.

There are three reasons:

First, no matter whether the credit card is overdue or not, the sooner you take the initiative to communicate with the bank and tell your own difficulties, it shows that you are active and have a strong willingness to repay, not passive and want to play the fool. The sooner the negotiation is successful, the more adverse consequences can be avoided.

second, at present, after most banks have agreed to the installment plan, they will generally not reduce the high liquidated damages and interest incurred in the past overdue period, such as China Merchants Bank, China Guangfa Bank, China CITIC Bank and state-owned banks. The latest successful installment cases of these banks are rarely reduced.

After all, banks are profit-making organizations. The overdue debts are divided into three to five years, and the installments are also interest-free. Even the losses caused by inflation are borne by banks. If the previous penalty interest is reduced, the banks will only lose more.

Third, although the proportion of credit card prosecutions is not high, the base of overdue customers is quite large, and no one can guarantee that they will not be prosecuted. Coupled with the continuous rectification of illegal collection by the state, banks entrust third-party companies to collect money, and the repayment rate is declining, so banks can only recover the arrears by improving legal proceedings in the end, in order to effectively reduce the bad debt rate.