If you owe 380,000 on a credit card, you can negotiate a repayment plan with the bank. The maximum period of the personalized installment repayment agreement shall not exceed 5 years.
According to Article 70 of the "Regulations on the Supervision and Administration of Credit Card Business of Commercial Banks", under special circumstances, if it is confirmed that the amount of credit card debt exceeds the cardholder's repayment ability and the cardholder still has the willingness to repay, The card-issuing bank can negotiate with the cardholder on an equal footing to reach a personalized installment repayment agreement. The maximum term of a personalized installment agreement shall not exceed 5 years. The content of the personalized installment repayment agreement should at least include:
(1) Arrears balance, structure, currency;
(2) Repayment cycle, method, currency, Date and repayment amount in each installment;
(3) Whether annual fees, interest and other fees will be charged during the repayment period;
(4) Cardholders will pay in personalized installments A commitment not to apply for a credit card from any bank before the relevant amounts in the loan agreement are fully settled;
(5) Rights, obligations and liability for breach of contract of both parties;
(6) Repayment Other matters related to payment.
If both parties reach an agreement and sign an installment repayment agreement, the card-issuing bank and its card-issuing business service agency shall stop collecting payments from the cardholder, unless the cardholder fails to fulfill the installment repayment agreement. If an oral repayment agreement is reached, the card-issuing bank must retain the recording materials. The recording data will be retained at least until the date of settlement of the debt.
Extended information:
Article 92 of the "Measures for the Supervision and Administration of Credit Card Business of Commercial Banks" Commercial banks shall implement classified management of credit card risk assets. The classification standards are as follows:
(1) Normal category: The cardholder can repay the amount payable in full before (and including) the due repayment date in accordance with the pre-agreed repayment rules.
(2) Category of concern: The cardholder fails to repay the amount payable in full on the due repayment date according to the pre-agreed repayment rules, and the number of overdue days is between 1 and 90 days (inclusive).
(3) Sub-category: The cardholder fails to repay the amount payable in full on the due repayment date according to the pre-agreed repayment rules, and the number of overdue days is 91-120 days (inclusive).
(4) Suspicious category: The cardholder fails to repay the amount payable in full on the due repayment date according to the pre-agreed repayment rules, and the number of overdue days is 121-180 days (inclusive).
(5) Loss category: The cardholder fails to repay the amount payable in full on the due repayment date according to the pre-agreed repayment rules, and the number of overdue days exceeds 180 days.
Commercial banks are encouraged to adopt a more prudent classification of credit card assets on the premise that the business system can support it, the classification operation is legal and compliant, and the classification method and data calculation method have been approved by the China Banking Regulatory Commission and its relevant agencies. standards, continue to pay attention to and regularly compare important risk management indicators related to reserve accrual, risk asset measurement and other aspects, and take corresponding risk control measures.
Baidu Encyclopedia - Measures for the Supervision and Administration of Credit Card Business of Commercial Banks