Hello, I'm glad to get back to your question. First of all, if you fail to pay off your credit card balance, you will not be sued in the short term (within 6 months).
It will be difficult to tell after 6 months. If the time is delayed for more than 1 year, you will first receive a subpoena from the court for civil litigation. If it is still not returned, it will involve criminal litigation. According to the laws of our country, if negotiations for a debt of more than 10,000 yuan are fruitless and the lawsuit is still unrepaid, not only will the person be blacklisted, but he may also face imprisonment. Secondly, what should I do if I cannot repay the credit card in full?
Suppose your current financial situation is such that you cannot repay the loan in full, but you are still confused about whether to pay it back. It is recommended to use the following two methods to ensure the minimum repayment.
1 Bill installment. Banks stipulate that bill installments include 3, 6, 10, 12, 18, and 24 installments. Among them, the 12th and 18th installments have the lowest interest rates, generally 0.6%. During the special period of the epidemic, some banks offer installment discounts, mostly 30-20% off. between. You can determine the number of installments based on your financial situation. If you still can’t decide, we recommend choosing 24 installments.
Generally, the minimum repayment amount is 5-10%, usually 10%. The minimum repayment for a arrears of 30,000 yuan is 3,000 yuan. The remaining 27,000 yuan needs to be repaid in 24 installments, with a principal of 1,125 yuan in each installment. , the interest is 167.4 yuan, totaling about 1292.4 yuan.
Therefore, the first repayment amount = 3001292.4=4292.4 yuan. You just have to figure out how to make the payment.
2 Minimum repayment. The minimum repayment limit of banks is 5-10%, and Industrial Bank should be 10%, which is a minimum repayment of 3,000 yuan. The repayment must be completed before the repayment date, and can be deferred for up to 1-3 days. At this time, no credit will be recorded and no penalty will be paid. The specific grace time needs to be confirmed with the bank's customer service.
The minimum repayment is suitable for cardholders who can receive funds in a short period of time, because choosing the minimum repayment is equivalent to giving up the interest-free period of the credit card. Overdraft interest will be charged from the day you swipe your card to make a purchase. The interest rate of 0.5% per day is still very considerable.
It is not recommended to use the minimum repayment option unless absolutely necessary. Finally, what should I do if the minimum repayment cannot be guaranteed?
Suppose you choose installment, but the first minimum repayment amount is 4292.4 yuan, but you still cannot guarantee it. What should you do at this time?
1 Find a bank credit loan. In special times, everyone is in difficult situations. I also couldn't pay my bank credit card, so I finally found a loan from a small bank. At present, the loan interest rates of many small banks are not high. You can get a credit loan with proof of income and property. Your Industrial Bank has a limit of 30,000, and I believe your annual income is not low. You can try this way to solve the current dilemma first.
2 Find an insurance company for a loan. If you have a policy and the cash value of the policy is sufficient, you can consider seeking a loan from the insurance company where the policy is located. You can use the cash value mortgage loan of the policy. The interest rate is very low, and the principal and interest are repaid upon maturity, which is very convenient.
3Jiebei/Weili loan turnover. It is not recommended to find third-party small loan companies. Their interest rates are too high and will seriously drag down your financial situation. It is recommended to use WeChat and Alipay to borrow money for turnover.
4 Find relatives and friends for turnover. When everyone is in trouble, it is only then that the relationship between family and friends can be seen. Write an IOU to relatives and friends, clarify the repayment time, ensure that you will pay back the loan, and give some interest appropriately. If you have a good relationship and do not want interest, give some small gifts.
The above are all done out of necessity. After all, once the loan is taken out, the interest will continue to increase, making the family's financial situation overwhelmed. Summary:
If you do not repay the money you owe to the bank, you will continue to receive harassing calls from third-party debt collection agencies in the short term. Even your family and friends will not be spared. Not only will your credit be damaged, it will last for a long time. Interest is like a snowball and can crush your family.
So, I want to say that credit card bills cannot be ignored. According to the above method, as long as you get through the minimum repayment amount, the rest is to increase revenue and reduce expenditure.
If you want to repay your debt, this is the only way and there is no other way.