Eligible cardholders, after completing personal authentication, customer service will apply for stopping hunger or paying interest for users, and then cardholders only need to wait for the system to pass the examination.
According to Article 70 of the Measures for the Supervision and Administration of Credit Cards of Commercial Banks issued by China Banking Regulatory Commission, under special circumstances, if it is confirmed that the credit card arrears exceed the cardholder's repayment ability and the cardholder still has the willingness to repay, the issuing bank can negotiate with the cardholder on an equal footing and reach a personalized installment repayment agreement, the longest of which is no more than 5 years, that is, 60 installments.
The steps to apply for suspension of overdue credit cards are as follows:
1. Notify the bank to apply for credit card negotiation and installment;
2. Submit the materials required by the bank;
3. Wait for the bank to review before calling;
4. Sign a negotiation agreement and start repayment.
According to the law, if the credit card holder fails to repay the minimum repayment amount for more than three months in a row, the bank has the right to bring a lawsuit to the court. However, under normal circumstances, if the cardholder is overdue, the bank will not bring a lawsuit to the court. The bank will contact the cardholder first to urge him to repay. If the cardholder fails to repay the loan within the time limit or cannot contact the cardholder after collection, the bank will bring a lawsuit to the court.
Conditions required for credit card suspension:
Confirm that the credit card debt exceeds the cardholder's repayment ability. For example, if you owe 6,543,800 yuan, your monthly salary is only 5,000 yuan, which obviously exceeds your repayment ability. Cardholders should have the willingness to repay, contact the bank in time to explain the reasons after the deadline, and negotiate with the bank to solve the problem. The cardholder's failure to pay off the debt in time should have proper reasons, such as unemployment or illness.
Credit card suspension will affect credit reporting. If the user repays on time after applying for credit card suspension, it will leave a record on the credit report. If the user's application for suspension of payment is overdue, it will directly affect the credit investigation. Most banks can only stop paying interest if their credit cards are overdue. It is particularly difficult to apply for a stop payment account because banks are generally reluctant to negotiate. Credit card is the main profit aspect of banks, and installment or minimum repayment amount and penalty interest through credit card are the main profit means of bank credit card business. Once the negotiation stops and the account is suspended, the bank's income will decrease, and the risk of debtor's refusal to repay will increase. In addition to the strong disapproval of the bank, even if the application is successful, it will have a great impact on the applicant. If the applicant cannot be overdue after the account is suspended, then he is also a faithless customer in the eyes of the bank, and the business of handling credit cards and bank loans will be rejected.
To sum up, the suspension of interest payment means that the cardholder fails to repay the credit card arrears or loans as scheduled due to special circumstances. After consultation with the bank, the bank will suspend interest payment as scheduled and leave the arrears for future treatment.
Interim Measures for the Administration of Personal Loans
Article 14
The loan investigation includes but is not limited to the following contents: (1) Basic information of the borrower; (2) The income of the borrower; (3) the purpose of the loan; (4) The source, ability and method of repayment of the borrower; (5) Guarantor's willingness to guarantee, ability to guarantee, value of collateral (pledge) and liquidity.
Article 15
The loan investigation should be based on on-the-spot investigation, supplemented by indirect investigation, and adopt ways and methods such as on-the-spot verification, telephone inquiry and information consultation.