Is it true that after the credit card is overdue, the principal will be repaid after receiving the bank's relief policy?

What is a stop-and-go account? How to apply?

Today, let's talk about how to apply for a stop payment account after the credit card is overdue. First, correct the keywords. The correct name of the stop payment account should be personalized installment repayment. "Stop and pay" is just a folk name, but bankers don't recognize this term.

According to Article 70 of the Regulation on the Supervision and Administration of Credit Cards of Commercial Banks, if it is confirmed that the amount owed by credit cards exceeds the repayment ability under special circumstances 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 term of personalized installment repayment agreement shall not exceed 5 years.

When the debtor meets the following three basic conditions, he can apply for personalized installment payment.

There is no real estate under the name of 1. It has been proved that the amount owed obviously exceeds the debtor's repayment ability. At present, the debt is too high and the income is too low. You can show your income certificate.

2. On the premise that the debtor has the willingness to repay, he will take the initiative to negotiate and communicate with the bank after the deadline. Generally 1-3 months overdue, the application is the best. After more than three months, the bank will be outsourced to a collection company, which will make it a bit difficult to apply again, but as long as it is not sued, there is still a chance.

3. If there are reasonable reasons, for example, due to external factors, such as unemployment, illness, company bankruptcy, etc. Banks will also agree to personalized installment payment. This personalized installment is not a short-term repayment, but it still needs to be repaid, and it must be repaid as scheduled according to the agreement. Generally divided into 24 months to 60 months.

How to apply for personalized staging?

1, you must have a complete thinking plan before applying, and you must clearly know the purpose of your credit card, which credit card is overdue, how much overdue, and how long overdue;

2. What is the monthly fixed income, how much you can repay, and how much installment payment will not affect your normal life.

Analyze which bank you want to repay first, and explain the situation to the bank in advance to repay the principal first.

Article 57 of the Measures for the Administration of Credit Cards of Commercial Banks clearly stipulates that when the card-issuing bank receives the repayment from the cardholder, if it is overdue by 1~90 days (including 90 days), it shall repay the interest or various expenses first and then the principal; If it is overdue for more than 90 days, the principal shall be repaid first, and then the interest shall be repaid. You must understand this first.

After the above work is completed, take the initiative to call the bank customer service to apply. After the call, ask the customer service number and record it. Also take the initiative to tell the other party that you are recording the phone, and be sincere. You must make it clear that you are in difficulty and have no one-time repayment ability, but you can guarantee timely repayment after personalized installment and have the ability to continue repayment. Generally speaking, the first few applications are difficult to succeed. If you continue to call in a few days, once you convince the customer service staff to help you submit your application, you will not be far from success. If you don't hear from the bank for a day or two, you will continue to call the last customer service to continue communication. If someone asks you for money, it's equivalent to cutting your flesh. If you ask the bank to reduce the amount, it is equivalent to cutting meat. Therefore, applying for personalized installment bank will not be so easy to compromise. You must persevere.

It is natural that the debt must be repaid. Let our debtors protect their legitimate rights and interests by reasonable and legal repayment. Finally, I wish you all an early exit from the debt quagmire.