What to do if the credit card cannot be repaid

If the credit card is not repaid, you can apply to the bank for minimum repayment or deferred repayment. If the overdraft amount reaches more than 10,000 yuan for the purpose of illegal possession, and the card-issuing bank still fails to return it after two collections for more than 3 months, it is suspected of malicious overdraft. Cardholders can explain to the bank their willingness to repay, the fact that they are temporarily unable to pay off their credit card debts, and their future repayment plans, and banks will generally grant relief.

According to Article 7 of the "Regulations on the Supervision and Administration of Credit Card Business of Commercial Banks": A credit card refers to a credit card that records cardholder account information, has bank credit lines and overdraft functions, and provides cardholders with relevant banking services. All types of media.

Credit cards stipulated in the relevant laws of our country ("Interpretation of the Standing Committee of the National People's Congress on Relevant Credit Card Regulations") refer to credit cards issued by commercial banks or other financial institutions with the functions of consumption payment, credit loans, transfer settlement , deposit and withdrawal of cash and other full or partial functions of electronic payment cards [1-2]. On December 1, 2017, the "English Translation and Writing Standards in the Public Service Field" was officially implemented, stipulating that the standard English name of credit cards is CreditCard.

Credit card consumption is a non-cash transaction payment method. There is no need to pay cash when consumption, and repayment will be made on the billing date (BillingDate).

Credit cards are divided into credit cards and quasi-credit cards. Credit cards refer to credit cards in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; quasi-credit card It refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund as required. When the reserve account balance is insufficient to pay, the cardholder can overdraw within the specified credit limit. The so-called credit card generally refers to a credit card only.

Starting from January 1, 2021, the credit card overdraft interest rate will be determined independently by the card issuer and the cardholder through independent negotiation, and the upper and lower limit management of credit card overdraft interest rates will be cancelled. The daily interest rate is 0.7 times 5/10,000).

On May 25, 2021, the Supreme People’s Court issued and implemented the “Regulations of the Supreme People’s Court on Several Issues Concerning the Trial of Bank Card Civil Cases.”

What to do if you don’t pay back the money you owe on your credit card

How to deal with the money you owe on your credit card: take the initiative to explain the situation to the bank and negotiate. If you are unable to repay the money for a period of time due to special circumstances such as work, you can proactively call the bank to explain the reasons and prove that the non-payment is not malicious. If the cardholder maliciously overdrafts a certain amount for the purpose of illegal possession and fails to repay the amount overdue, it constitutes a credit card crime and he will also bear criminal liability. Article 196 of the "Criminal Law": Credit card crimes. Whoever commits credit card activities under any of the following circumstances and the amount is relatively large shall be sentenced to not more than five years or criminal detention, and shall also be fined not less than 20,000 yuan but not more than 200,000 yuan; If the amount is extremely huge or there are other particularly serious circumstances, the sentence shall be not less than five years but not more than ten years, and a fine of not less than 50,000 yuan but not more than 500,000 yuan; A fine of not less than RMB 500,000 but not more than RMB 500,000 or confiscation of property may be imposed: (1) Using a forged credit card, or using a credit card fraudulently obtained with false identification; (2) Using an expired credit card; (3) Pretending to use another person’s credit card ; (4) Malicious overdraft. The term "malicious overdraft" as mentioned in the preceding paragraph refers to the cardholder's behavior of overdrafting beyond the prescribed limit or within the prescribed period for the purpose of illegal possession and failing to return the card after being called upon by the card-issuing bank. Anyone who uses a credit card at the same time shall be convicted and punished in accordance with the provisions of Article 264 of this Law.

What to do if the credit card balance is not repaid

1. If it is only 1 to 2 days overdue, repay it quickly and call the bank customer service to explain the situation. When requesting cancellation of overdue records, almost all banks have time tolerance services, and generally the credit report will not be submitted for a short period of time. If it doesn't work, the worst thing is to apply for installment or minimum repayment, and don't overdue it. 2. If an overdue record occurs, the card cannot be canceled, otherwise the overdue record will not be eliminated.

Article 108 of the General Principles of the People's Republic of China and Civil Law: Debt Repayment Debts must be repaid. If the debt is temporarily unable to repay, the debtor may repay it in installments with the consent of the creditor or the people's ruling. Those who are able to repay but refuse to repay shall have the people's judgment to compel repayment.

What should I do if I owe money on my credit card?

The solutions to credit card debt that has not been paid for many years are:

1. Borrow money from relatives and friends to temporarily make up for the loopholes. If it is just a temporary situation, you will soon have enough money. funds; then you can borrow some money from relatives and friends, and then return it to them when the funds are available.

2. Apply for deferred repayment. When emergencies occur, such as illness, hospitalization, unemployment, etc., you can contact the bank’s customer service. Just tell customer service your true situation and then apply for a deferral of repayment.

3. Apply for interest-free installment repayment. When the situation is serious and repayment is relatively more difficult, you can contact the bank’s customer service. Provide relevant materials to apply for suspension of interest payments and repayment in installments.

4. Negotiate with the bank to reduce credit card debt. If negotiation fails, you can use judicial authorities to reduce credit card debt.

This ends the introduction on what to do if the credit card is not paid back and what to do if the credit card is not paid back for more than 10,000 yuan. I wonder if you found the information you need?