1. The application conditions for stopping interest payment are as follows: the user has confirmed that the credit card debt exceeds his repayment ability; Users have the willingness to repay; There needs to be a more appropriate reason. If the above three conditions are met, the user can apply for suspension of payment. It should be noted that the stop-loss account occurs after the deadline, and you cannot apply for a stop-loss account unless it is overdue.
2. For users, stopping interest payment can help users to repay in a planned way, and at the same time, the reduced interest can reduce the repayment pressure of users and let users pay off overdue debts as soon as possible.
Impact of overdue credit cards
1, resulting in overdue interest.
After the credit card is overdue, the bank will charge the cardholder overdue interest. The longer the overdue time, the more overdue fees will be generated, and the greater the repayment pressure of cardholders.
2, affecting personal credit.
After the credit card is overdue, the bank will upload the overdue record of the credit card holder to the central bank's credit information system. Personal credit information is called economic identity card. If the credit is overdue, it will have an impact on the later loan to buy a house and a car. It's not worth buying a house or a car because of a credit card.
3. Be sued by the bank
After the credit card is overdue, the bank will first take collection measures for the cardholder. If the collection fails many times and the overdue amount of credit card users is large, then the bank may choose to recover the arrears through judicial channels. It can be seen that overdue credit cards may also face lawsuits. If the cardholder has malicious overdraft behavior, he may also bear criminal responsibility for the overdue credit card.
I hope the above content can help you. Please consult a professional lawyer if you have any other questions.
Legal basis: Article 70 of the Measures for the Supervision and Administration of Credit Card Business of Commercial Banks stipulates that under special circumstances, if it is confirmed that the credit card debt exceeds the cardholder's repayment ability and the cardholder is still willing to repay, the issuing bank can negotiate with the cardholder on an equal footing and reach a personalized installment repayment agreement.