The negotiation with the bank is to stop paying interest. After the negotiation is successful, the original interest will not be recovered, but it will not be reduced. This interest still needs to be paid back. In addition, the cessation of interest is to divide the arrears into 60 installments for up to 5 years, and credit card repayment requires a handling fee, which may be misunderstood as the bank is still raising interest rates.
Friends who have used credit cards should know that as long as the credit card is overdue, they can no longer enjoy the interest-free period and will calculate the interest in full from the day of consumption. Even if the principal is only repaid after the deadline, these interests will still generate compound interest, and the longer the time, the greater the interest. Therefore, it is necessary to negotiate with the bank to repay only the principal.
Extended data:
Article 196 of the Criminal Law stipulates that whoever commits credit card fraud in a relatively large amount shall be sentenced to fixed-term imprisonment of 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.
So even if you are prepared to throw caution to the wind and want to pay your debts by going to jail, do you really need to pay back the money after going to jail? Lifelong recovery of arrears. In addition, the court will impose a fine, and the overdue interest payment fee incurred during the imprisonment period will be fully repaid. When you lose your personal freedom, you will pay a higher price. It is better to protect your credit than to gain fame and fortune.
Phoenix. Com- What if the credit card is overdue?