1. What to do if you cannot pay off your credit card debt at once

1. Use the minimum payment function

Credit card bill There will be a minimum repayment amount, and the cardholder can repay according to the minimum repayment amount, but the unpaid principal will accrue a certain amount of interest.

2. Make installment repayment

If the credit card cannot be paid off at once, you can apply to the bank for installment repayment. You can call the customer service phone to handle it, or you can do it yourself on the bank APP. To apply, you need to divide the installments into the longest period to reduce the pressure of repayment, so as to avoid not being able to pay it off after maturity, causing overdue repayment and affecting personal credit.

3. Apply for an extension of repayment

If you have already made installment repayments and are no longer able to repay, explain the situation to the bank in advance, apply for an extension, and move the repayment time to a later date. Extend it a bit. If it affects the approval process, the repayment time can be postponed, so that you can have time to collect money to repay the loan.

4. Borrow money from relatives and friends to repay the loan

Cardholders can borrow money from relatives, friends, etc. to repay the credit card debt, and then repay the money to relatives and friends when they have money on hand. .

2. What to do if you are sued for an overdue credit card

If you are sued for an overdue credit card, you should proactively contact the bank to see if the case can be mediated privately. If the bank agrees that the card should be drawn and the balance repaid as soon as possible, and if the cardholder is indeed in financial difficulty, he or she can communicate with the bank to negotiate an extension of repayment. Usually, the bank just wants to recover the arrears as soon as possible, and does not really want to take the cardholder to court, so the cardholder guarantees that he can repay the loan as agreed and take action, which is generally acceptable. If the cardholder takes no action, it may be considered a malicious overdraft. Malicious overdraft refers to the cardholder's behavior of overdrafting beyond the prescribed limit or within the prescribed period for the purpose of illegal possession, and still refuses to return the card after being called upon by the card-issuing bank.

After the credit card is overdue, the bank will send text messages and phone calls to collect collection. It is best for cardholders not to resist. When the bank calls, it will be answered as soon as possible. Don’t think that you can not answer the call if you have no money after the due date. If you change the phone number or change the number so that the bank cannot be contacted, the bank will only think that the cardholder is maliciously avoiding debts and will call the cardholder's contact person. When a credit card is overdue, penalty interest and liquidated damages will accrue. The cardholder must add the principal owed and the interest incurred to calculate the actual amount owed, and then determine how to repay based on his income and debt situation. If the cardholder is overdue for no more than 3 months, the cardholder should repay the money as soon as possible if he can easily pay it back by himself, instead of borrowing money from family members, relatives and friends to repay the card.

If you are unable to repay your credit card debt in one go, you need to negotiate with the bank that issued the card for repayment in installments. The use of credit cards can satisfy cardholders' desire to consume in advance, promote product sales, and stimulate social demand. Credit cards are a high-tech product that can reduce the trouble of cardholders carrying cash, provide settlement services, and help enhance card holding people's sense of security.