What to do if you cannot repay the money you owe to a credit card

If you cannot repay the money you owe to a credit card, you can apply to the bank for minimum repayment or deferred repayment. The law stipulates that anyone who maliciously overdrafts more than 10,000 yuan shall be prosecuted and shall bear corresponding criminal liability. "Malicious overdraft" refers to the cardholder's overdraft exceeding the prescribed limit or prescribed period for the purpose of illegal possession, and the card-issuing bank still fails to return the card for more than three months after being called upon twice. However, if the amount of a malicious overdraft is more than 10,000 yuan but less than 100,000 yuan, 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.

① There can be no more than 6 overdue payments in the last 2 years, and no non-repayment for more than 90 consecutive days. Most banks will not refuse a loan because it is less than 90 days overdue. However, each bank has different specific regulations. There are also banks with strict requirements. They will make it clear that if there is an overdue loan in the past six months, no loan will be given no matter how long the overdue loan is.

② Therefore, if the overdue loan does not exceed 90 days and does not exceed 6 times within 2 years, the possibility of applying for a bank loan is relatively high. However, some banks may reduce loan amounts, increase loan interest rates, or shorten loan terms to reduce risks. Of course, users can also improve their loan approval rate in some ways. For example, if you deposit certain assets in a bank, the bank will be more tolerant towards customers who have assets in the bank and a history of financial management and investment. The second step is to provide proof of your other assets, such as securities, real estate, etc. You can also find a guarantor for guarantee, provided that the guarantor has certain assets and repayment ability.

③ There is another situation where overdue occurs without my knowledge, such as if the credit card is maliciously stolen or the certificate is used by others to apply for a credit card or loan. In this case, you can contact the bank and relevant departments. After issuing certain certificates, you can eliminate your overdue record. However, as people pay more attention to private information and technology advances, the probability of this happening is smaller.

How to solve the problem of being unable to repay the credit card owed to the bank

The inability to repay the credit card owed to the bank:

1. If you are unable to repay the credit card owed to the bank, you can communicate with the bank and Apply for deferred payment or installment payment.

2. If the cardholder cannot repay on time due to unemployment, illness, etc., he or she can proactively contact the bank to which the credit card belongs, explain his or her situation, indicate that the debt is not malicious, and apply for delayed repayment and Interest discounts.

Repayment methods:

In order to provide cardholders with a convenient card-using experience, various banks have many ways to repay credit cards, mainly including the following:

1. Bind the card for automatic repayment

Enable the automatic repayment function of the credit card through the bank counter or customer service phone, bind the savings card in your name, and the system will automatically deduct the payment when it expires Repayment.

2. Mobile banking APP repayment

Register and log in to the official APP of the issuing bank’s credit card. After binding the card, you can make the repayment. If you pay with your own bank’s savings card, you can repay the money. Restore the quota in real time.

3. Online banking repayment

Credit card repayments can also be made through the online banking of the card-issuing bank, and personal online banking needs to be activated.

What to do if we are unable to repay the credit card debt

1. If we are really unable to repay the credit card debt, we can proactively contact the bank to inquire about the amount of debt and interest and explain the current situation to the bank. It's not that I don't want to repay the debt, but I really feel powerless, so I expressed my intention to repay the bank to avoid being charged.

2. After actively communicating with the bank, apply to the bank for personalized installment payment, and make reasonable installments based on your economic status and income expectations.

When you are unable to repay your credit card debt, you must not wait for the bank to collect the debt, but take active measures and proactively communicate with the bank.

According to the provisions of Article 70 of the "Regulations on the Supervision and Administration of Credit Card Business of Commercial Banks": Under special circumstances, it is confirmed that the amount of credit card debt exceeds the cardholder's repayment ability and the cardholder is still willing to repay. Yes, the card-issuing bank can negotiate with the cardholder on an equal footing to reach a personalized installment repayment agreement. The maximum period of a personalized installment agreement shall not exceed 5 years. Therefore, under normal circumstances, banks will handle it according to the actual situation.

What should I do if I cannot repay the money I owe to a credit card?

If you cannot repay the money you owe to a credit card, you can call the bank’s credit card customer service center. At this time, you can apply for an extension of repayment. Generally, banks will agree to it. Yes, but certain fees may be incurred when deferred repayment. After the bank agrees, it can effectively prevent personal credit from becoming bad, and you can repay the loan on time in the future.

Credit cards also provide users with installment repayments or minimum repayments when individuals are unable to repay. These two repayment methods can effectively reduce the monthly repayments, but they require a certain fee. Generally, you choose the number of installments based on your monthly income.

When using the minimum repayment amount, you generally only repay 10% of the current bill. Although the repayment amount is reduced, interest will be accrued on all consumption amounts in the current period starting from the borrowing date. This repayment method There is a lot of interest paid, so users should use it with caution to avoid paying a lot of interest.

When an individual is unable to repay the loan on time, he or she can borrow money from friends around him to repay the loan on time. This can avoid the situation of not being able to repay the loan on time. However, in the future, the loan must be returned to the friend on time. This method of repayment also avoids It saves the interest payment, but it cannot be used frequently, otherwise it will cause resentment among friends.

Extended information:

The consequences of being unable to repay credit card debt:

1. If it is only temporarily repaid, but can be repaid later, it will only accrue interest. And late payment fees only.

2. However, if you know that you have no ability to repay and repay the overdraft principal of more than 10,000 yuan, and still fail to repay for more than 3 months after being called by the bank twice, it is suspected of constituting a malicious overdraft and may be subject to criminal punishment. punishment.

This concludes the introduction to the latest regulations on what to do if you owe a credit card and cannot repay it. I wonder if you found the information you need?