What should I do if my credit card (debit card) installment payment is overdue?

If the credit card (debit card) installment payment is overdue, the user must pay off the overdue balance as soon as possible, and then after paying off all the debt, the bank can issue a non-malicious overdue certificate. Because the user already has a bad credit record in his credit report, he may not be able to pass the review if he applies for a credit loan later. However, having a malicious overdue certificate can help the user pass the review.

Therefore, after the credit card (debit card) is overdue, the user only needs to pay off the debt as soon as possible. Since the overdue date is caused by the user himself, the overdue record cannot be deleted through appeal.

How to deal with an overdue loan?

What to do if a loan is overdue and unable to repay:

1. Make the minimum repayment: Credit card can be used For minimum repayments, as long as the cardholder repays the minimum repayment amount required by the bank on the repayment date, it will be regarded as normal repayment;

2. Apply for negotiated installments. For users whose credit cards are overdue, the China Banking and Insurance Regulatory Commission will give them the right to apply for personalized installments. Therefore, users can apply to the corresponding bank to repay the current overdue balance in installments. When the repayment pressure is reduced, subsequent repayments will be easier. It should be noted that if a personalized installment plan is reached, no overdue payment will occur again.

3. Apply for deferred repayment: If the user cannot pay off the credit card on the day of repayment, but will be able to turn over his own funds soon, he can directly contact the bank customer service and apply for a short-term credit card repayment extension;

4. First find family members for turnover: If the user's funds are really difficult to turn over, then you can first find relatives and friends for turnover, and first resolve the debt owed to the bank to avoid the risk of overdue credit card repayments.

What will happen if the installment payment is overdue?

Overdue installment payment will have the following consequences: the loan will be collected from the user; overdue records and overdue interest will be generated; overdue records will be It will affect your personal credit report; if it is overdue, you will not be able to apply for other credit services; if you do not repay the loan for a long time, relatives and friends may receive collection calls; the lending institution may be a user.

Therefore, the impact of overdue payments after installments is relatively large. Users must repay on time on the repayment date to avoid overdue payments, and repay as soon as possible after overdue payments to reduce the negative impact of overdue records.

1. Late payment fees and penalty interest will be incurred. If the time is too long, the installment business will be terminated. Previous consumption will be treated as overdue repayment, which will result in late payment fees and penalty interest, and negative information such as overdue repayment will be recorded in the personal credit report.

2. Negative information such as late repayment is not permanently recorded in an individual’s credit report. my country’s current credit record retention period is five years. After paying off a credit card, anyone can start over and build a credit history all over again.

3. Whether it constitutes a criminal offense and whether you will be imprisoned depends not only on the time of arrears, but also on the principal amount of the credit card arrears.

4. If the principal amount of the debt exceeds RMB 10,000 and is still not repaid for more than 3 months after two collections by the card-issuing bank, it shall be deemed as a "malicious overdraft" under the criminal law and suspected of credit card crimes. , shall be sentenced to not more than five years or criminal detention according to law, and shall also be fined not less than 20,000 yuan but not more than 200,000 yuan.

5. If the amount of malicious overdraft is relatively large and all the overdraft interest has been repaid before the public security organ files the case, and the circumstances are obviously minor, criminal liability may not be pursued in accordance with the law.

Extended information: Overdue repayment refers to the situation of exceeding the final repayment period stipulated by the bank and failing to deposit the consumed amount into the designated account in time and in full. Overdue payments will accrue interest and affect your credit score, and in serious cases, you may be jailed. Generally speaking, each bank will charge a certain amount of interest for overdue repayment. Each bank is different, but it is generally an interest of 0.5%. However, the interest accrual date is calculated from the date of consumption, not the date after the final repayment date.

It is recommended that if the entire limit is not met, you can pay the minimum repayment amount first, which will not affect your credit limit. At the same time, there will be a buffer period so that the bank can understand the flow of funds in your account in a timely manner and will not freeze the account.

What will be the consequences if my Pratt & Whitney installment payment is overdue and how to deal with it

The consequences of overdue payment:

1. Bear high penalty interest;

2. Create legal consequences;

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

The suggestions are as follows:

1. It must be made up immediately, and an additional penalty interest will be paid. It is recommended to pay more, so that the bad records can be temporarily cleared. If the debt is overdue for more than one month, then the next repayment should be made with 2 months of monthly payments at once, as well as the penalty interest for the previous month;

2. If there is no further delay, , one year later, the computer will eliminate this bad record;

3. The repayment is delayed, but the repayment period will not be delayed, and the bad record will only be left permanently;

4. Remember to pay off the previous monthly payment and penalty interest before the next month’s repayment period.

First of all, the bank will send people to constantly press for loans, and you will have to bear high penalty rates.

Secondly, if the bank is concerned, it is very likely that it will apply to preserve various personal assets, such as real estate, cars, deposits, stocks, etc.

Third, if the loan principal and loan collection fees cannot be returned after the assets are liquidated, the bank may apply for execution of salary income (basic living expenses will be deducted).

Fourth, unless you take a loan intentionally or provide false information, you will generally not go to jail.

Fifth, if you cannot exchange the money within a certain period of time, you will be blacklisted by the credit system. It will be impossible to get another loan and it will be difficult to apply for a credit card.

Warm reminder:

Loan is a contractual act, please abide by the rules to avoid leaving bad records on future credit reports.

Consequences of overdue payment:

1. If there is no repayment, the bank will notify you by phone or text message and remind you to repay on time, and penalty interest will be incurred.

2. If the loan is not repaid for three consecutive times, the bank account manager will initiate collection, and the borrower will also be charged penalty interest.

3. If the number of overdue repayments reaches six or more times, the bank will use legal means to protect its own rights and interests, and the property may be frozen during this period.

4. If the negotiation between the bank and the borrower fails, the bank will auction the mortgaged property through legal procedures.

This ends the introduction on what to do if an installment loan is overdue and what to do if an installment loan is overdue. Did you find the information you need?