Applying to stop payment is to contact the bank actively after the deadline to explain your situation. I want to handle this business, but most banks will ignore everyone and tell them that there is no such business. At this time, everyone must insist on calling again every two days. If you still don't get a satisfactory answer, you will make a complaint. The content of the complaint is basically the same as what you told the bank. After the complaint, the bank will usually contact you within a few days. However, the overall answer is still the same. At this time, everyone should show their attitude and make it clear that they will persist. Many banks may not be able to stand this compromise, but some banks will stick to it. You can keep complaining. Finally, there are many things after the bank compromised. The first is the negotiation details and other issues. It usually takes a long time, and everyone needs enough patience, usually several months or even half a year.
It should be noted that even if the application for suspension is successful, the credit card has already generated overdue records, resulting in poor personal credit information and inability to handle other credit business in the future. What does it mean to stop paying off the credit card? In fact, after the credit card is overdue, the cardholder can negotiate with the bank so that the arrears will no longer generate cyclic interest. However, the original interest will not be eliminated, and it will still be hung on the cardholder's account together with the principal in arrears. Cardholders need to negotiate with the bank on how to repay the principal and interest owed. If the cardholder feels that the amount owed by the credit card has exceeded his repayment ability, he can contact the bank to apply for stopping interest payment. If the bank agrees, the cardholder can negotiate a new repayment plan with the bank and then pay off the card debt according to the new repayment plan.
Legal basis:
The basis for stopping interest payments is Article 70 of the Measures for the Supervision and Administration of Credit Cards of Commercial Banks.
Measures for the supervision and administration of credit cards of commercial banks
Article 70 stipulates that under special circumstances, if it is confirmed that the amount owed by a credit card exceeds the cardholder's repayment ability and the cardholder is still willing to repay, the issuing bank may reach a personalized installment repayment agreement with the cardholder through equal consultation, and the longest term of the personalized installment repayment agreement shall not exceed 5 years.
The contents of personalized installment repayment agreement shall at least include:
(a) the balance, structure and currency of the arrears;
(2) the repayment period, method, currency, date and repayment amount of each installment;
(three) whether to charge annual fees, interest and other fees during the repayment period;
(4) Before the cardholder has fully settled the relevant funds of the personalized installment repayment agreement.