1. What to do if you really can’t pay off your credit card

1. Liquidate mortgage assets

Although there are many people who have no money However, there are many realizable assets under your name, such as houses, cars, etc. You can consider mortgage-liquidating these assets to obtain fund repayment. Generally, they are not liquidated at the original price, so you will suffer a slight loss. It is suitable for people who owe a lot, cannot raise enough money, and are at risk of being punished.

2. Be honest with your family about borrowing money

If you can’t pay back the credit card debt by yourself, it’s better not to shoulder it. It’s better to be honest with your family and see if you can win over them. Help *** and repay the loan. If your family has no money, ask relatives and friends to borrow. Make an IOU and write down the repayment time, interest, etc. It is the best you can get. Don't complain if you can't borrow. No matter how close you are, no one will The obligation must be to borrow money.

3. Actively negotiate for repayment

Even if the credit card debt is not paid, don’t lose contact and run away. Don’t miss the collection call from the bank. Even if you don’t have the money, pay it back. Express your willingness to repay and see if you can negotiate the repayment. If the bank says it wants to sue, don't panic. It will be an opportunity for those who are temporarily unable to repay. It will be easier to negotiate through court mediation when the court is held.

2. What are the consequences of not repaying credit card debt?

1. From the overdue date, penalty interest will be calculated at a daily interest rate of 0.5% every day until the customer is fully Until it is paid off. The longer the overdue period, the more penalty interest will be generated, and the customer's repayment pressure will become greater and greater.

2. Overdue situations will be reported by the bank to the central bank's credit reporting system, leaving a bad record in the customer's personal credit report, thus causing damage to the customer's personal credit. And if you continue to default on repayment, I am afraid that serious bad information such as "three in a row and six in a row" will appear on your credit report.

3. The credit card is likely to be reduced by risk control, or even have its limit frozen, resulting in customers being unable to use the card for consumption in the future.

4. Due to the damaged credit, it is estimated that customers will be hindered in applying for new credit cards or loan businesses in the future. After all, whether it is credit card or loan approval, the handling bank (loan institution/platform) will Check the customer's credit report. Once there is a problem with the credit, they will naturally refuse to approve the card or loan.

If you cannot afford to pay off your credit card, you need to ask relatives at home for help. In this case, there will be an overdue record. Credit cards allow you to consume first and then repay, and you can use your overdraft limit to ease the financial pressure of cardholders. Credit cards are easy to carry, you can use points to exchange for exquisite gifts, and you can also repay in installments. Credit cards have a certain overdraft limit, which can be changed based on the cardholder's asset status and proof of income.