1. How does the bank collect debts if the credit card is not repaid?

There are several collection methods for non-repayment of the credit card:

In the first few days after the cardholder is overdue, credit card collection is often based on SMS collection. Generally speaking, text message collection mainly serves as a reminder. After all, in real life, there are indeed cases where people forget to repay.

2. Telephone collection

Telephone collection is the most commonly used collection method. If it is overdue for a long time, it may affect normal life through phone bombardment.

3. Door-to-door collection

If the card is overdue for a long time, you may encounter door-to-door collection. Collection personnel may go directly to the cardholder's home or office to collect the card.

4. Third-party collection

When its own collection fails, the bank may package and sell the non-performing credit card assets at a low price, and a third-party professional collection company will collect them. If the bank entrusts the collection business to a third party, the collection method will be much tougher.

5. Use legal channels to collect debts

Taking legal channels to collect debts is often troublesome and the process is more complicated. Therefore, only a small number of banks will choose to take the debtor to court and request the court for enforcement. If the debtor still refuses to repay after the court issues a judgment, the court may freeze the debtor's property for auction, or it may include him on the list of dishonest persons.

2. What to do if your credit card is overdue?

1. 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.

2. Use the installment function. If you are under pressure to repay, you can directly apply for bill installment. Generally, banks provide the function of 3, 6, 9, 12, 18, and 24 installments. You can choose the number of installments according to your repayment ability, which can ease the repayment. Stress will not affect your credit.

3. 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.

4. 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.

If you can’t pay off your credit card, you can pay the minimum payment. Every bank will have a minimum loan repayment feature. As long as the minimum payment is paid, the bank will not charge late fees and it will not affect your personal credit. However, the minimum interest rate is charged, which is 0.05% per day. So only the minimum interest needs to be paid. Use the segmentation function. If you are under repayment pressure, you can directly apply for bill installment.