Should I pay the principal first if it is overdue for 90 days?

China Bank Credit Card Overdue Repayment Form

1. If it is overdue 1 to 90 days (inclusive), it shall be repaid in the order of interest receivable first and then principal, as follows: Note the repayment order (loan): last interest-last expense-current interest-last expense-current withdrawal-current consumption;

2. If the payment is overdue for more than 9 1 day, the repayment shall be made in the order of repayment of principal first, then interest or various expenses, as follows: Note the repayment order (loan): cash withdrawal in the previous period-consumption in the previous period-cash withdrawal in the current period-consumption in the current period-interest in the previous period-interest in the current period.

The above contents are for your reference. Please refer to the actual business regulations.

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What is the repayment order of overdue loans?

What about loans overdue? What is the repayment order of overdue loans? Under normal circumstances, whether loans overdue is a non-performing loan is determined according to the overdue period. According to the information I collected, Article 13 of the Accounting System for Financial Enterprises clearly stipulates that loans with principal or interest overdue for more than 90 days and loans with production and operation stopped and projects stopped are non-performing loans.

Then the corresponding overdue loan repayment order also has these two situations:

The order of withholding loans overdue repayment is to repay the interest first, then the principal, that is, the lender is short-term overdue, and then the interest is repaid first, then the principal is repaid.

In this case, the repayment order of overdue loans is to repay the principal first and then the interest. That is to say, when the bank receives the repayment from the lender, it first reduces the principal, and after the loan principal is fully paid off, the excess received is used as the current interest income. But once it reaches this point, it is not only difficult for lenders to borrow money in the future after leaving a bad credit record, but also it is hopeless to apply for a credit card and even impossible to immigrate.

I warmly remind: once the loan is unexpectedly overdue, what the lender should do is to make up for the repayment quickly, because if time is tight, it can make up for the loss as much as possible. After all, personal credit record is a treasure, and the consequences can be imagined if you don't pay attention.

Should banks deduct the principal or interest first to recover overdue loans?

According to the provisions of the Accounting System for Financial Enterprises, the repayment order of loans is not determined by overdue or not, but by whether loans should be accrued or not. Loans should be accrued, with interest paid first and interest paid later. Non-accrual loans should be paid first and interest paid later.

Criteria for determining non-accrual loans:

According to the term, the loan principal or interest is overdue for more than 90 days and has not been recovered; Although the loan is not due or overdue for no more than 90 days, the production and operation have stopped and the project has stopped construction.

1. How to calculate the interest in loans overdue?

1. loans overdue interest refers to the interest fee charged by the lending institution when the loan business applied by the borrower fails to repay the arrears in time after the repayment period.

2. The calculation of overdue loan interest depends on the default interest rate after loans overdue. Banks or lending institutions have different provisions on the default interest rate, so the interest rate in loans overdue is also different.

3. According to the Reply of the Supreme People's Court on the Criteria for Calculating the Default Penalty for Late Payment, the penalty interest generally rises by 30%~50% on the basis of the original loan interest rate, but the specific provisions shall be subject to the contract terms at the time of lending.

The specific calculation formula is as follows:

Loans overdue interest rate = normal lending rate of the central bank *( 1+ floating point)

Loans overdue interest = loan principal * overdue interest rate * actual overdue days.

For borrowers in loans overdue, interest will be charged at the default interest rate from the overdue date until the principal and interest are paid off. If the interest cannot be paid on time, compound interest will be calculated at the penalty interest rate.

2. What are the conditions for stopping bank loans?

1. The amount owed exceeds the cardholder's repayment ability. Cardholders must be able to prove that they are really unable to repay on time because of lack of financial strength.

2. Good willingness to repay. Cardholders should take the initiative to communicate with the bank after the deadline to ensure smooth communication.

3. Give appropriate reasons. Explain to the bank in detail the reasons why the repayment cannot be made on time.

Whether the cessation can be successfully handled in the end depends on the audit results of the bank.

How long before the credit card expires? Find out the repayment order

After many friends' credit cards are overdue, they are used to paying the principal first and then the interest, but the overdue time is different and the credit card repayment order is different. Some will deduct the principal first, while others will deduct the interest first. So, how long does it take to deduct the principal of the credit card? Let's have a look.

In many banks' credit card collection contracts, there are provisions on the order of repayment after overdue. Most of them are divided into two repayment orders: deducting interest first and then deducting principal, with 90 days overdue as the dividing line:

1. If the overdue period is less than 90 days, it shall be repaid in the order of interest receivable or various expenses first and principal later;

2. If the overdue period is 90 days, that is, the overdue period exceeds 9 1 day, the principal shall be repaid first, and then the interest or various expenses shall be paid.

Therefore, if the overdue time exceeds 90 days, the principal will be deducted first.

It should be noted here that if the credit card is overdue for more than 3 months and fails to pay off the arrears, it is seriously overdue, and the bank will increase its collection efforts. In addition to text messages and phone calls, they may also come to the door. If the principal arrears reach 50,000 yuan, you should be prepared to be sued. The bank may take the cardholder to court on the grounds of malicious overdraft and is likely to be sentenced.

If the repayment cannot be made within the time limit, it is suggested to reach a personalized installment agreement with the bank as soon as possible, stop the interest and pay off the arrears in five years. After handling, each installment will be repaid on time as agreed, without generating interest, and there is no need to worry about being collected by the bank.

The above is the introduction of "how long will the principal be deducted first when the credit card is overdue?" I hope it will help everyone.