Overall overdue repayment order

Is it necessary to repay the principal first when the credit card is overdue?

Pay late fees first

The repayment sequence of credit cards is as follows:

1, the bill has been paid first, but the bill has not been paid yet.

2. On the same bill, the repayment order of normal account is: interest, installment fee, expenses, cash, easy loan, installment consumption and general consumption. (Quasi-credit card is not applicable to the above repayment sequence) Fees include: late payment fee, over-limit fee and overpayment.

The Notice on Matters Related to Credit Card Business (hereinafter referred to as the Notice) has been decided to come into force on 20 17 1 day. There are two points in the "Notice" that have attracted much attention from the society:

First, the management of the upper and lower limit of credit card overdraft interest rate. The lower limit of overdraft interest rate is 0.5 ‰ of the daily interest rate. 7 times, that is, the minimum overdraft interest can be discounted by 30%.

Second, the introduction of "liquidated damages" instead of "late payment fees", the card issuer should agree with the cardholder through agreement whether to collect liquidated damages, as well as related collection methods and standards.

Take China Merchants Bank as an example. At present, there is indeed a certain late payment fee for overdue repayment. The late payment fee is 5% of the unpaid part of the minimum repayment amount, starting from 10 yuan. That is to say, if the cardholder's monthly minimum repayment amount is 1000 yuan, but only 500 yuan is paid, and the minimum repayment amount is not enough, then the bank will charge 25 yuan a late fee.

Although banks are no longer forced to charge late fees, they still have to charge overdue cardholders a certain amount of liquidated damages, and the amount of liquidated damages will be "negotiable". Therefore, the cardholder should still abide by the credit agreement and repay the loan on time.

Extended data:

Consequences of overdue repayment:

1, bear a high penalty interest. After a credit card defaults, the penalty fees usually involved are revolving interest fees and late fees. The essence of revolving credit is a small, unsecured loan with daily interest. If the repayment is not made in full on the last repayment date, revolving credit interest will be generated on the next statement, and the interest needs to be calculated from the date when the consumption is recorded.

2, causing legal disputes, violent collection of credit cards has become a hot topic. Many bank credit card centers outsource credit card repayment collection to some so-called "debt collection companies". These companies are mixed, and their debt collection methods are crude, which brings great trouble to their customers.

According to the provisions of the Criminal Law, a credit card with a malicious overdraft of more than 5,000 yuan will not be repaid after three months of collection by the bank. If the circumstances are serious, criminal responsibility may also be investigated for fraud. For defaulting customers, after entering the judicial process, it will not only affect their reputation, but also lose more costs. In addition to paying off the arrears, it is even worse to bear the litigation costs.

3. Leave a "credit stain" in the national credit information system. In 2006, the central bank established a national unified enterprise and individual credit information basic database. As long as you get a card or borrow money from a bank, your own "credit report" will be automatically generated in the system.

The "stain" in this report can't be ignored. It will affect all kinds of applications for loans, insurance, job hunting and studying abroad. Bad records are generally kept abroad for 7 years.

20 12, 1 1, the new personal credit report of the central bank was launched, and the credit card and loans overdue situation before 2009 1 were no longer displayed, and the overdue records were retained for 5 years thereafter. This move means that the public's overdue negative record is no longer accompanied by a lifetime. If you can repay in full and on time within five years, your credit can be cleared.

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.

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.