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CashBerry is a financial company, providing an online loan consultation service that is fully automated, disbursed within the day.

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The conditions for applying for a loan at Cashberry

4 easy steps to register for a loan

Filling in the registration form
Provide a phone number and fill in personal information. Register and send request for a loan.
Getting approval and Signing an Agreement
The approval results will be anounce via phone call. Only need to log in to Personal account and sign an Agreement.
Receive money
After the application is approved, our partner will transfer the money to your account.
Make repayment to our partner according to the instructions.
with flexible terms at CashBerry
  • Term:
    Term: min 92 days, max 183 days
  • Loan limit:
    Loan limit: 100 000 - 5 000 000 VND
  • Interest rate:
    Interest rate: 10,95 - 14,6 %/per annum
Get loan
  • Term:
    Term: min 92 days, max 183 days
  • Loan limit:
    Loan limit: 100 000 - 5 000 000 VND
  • Interest rate:
    Interest rate: 10,95 - 14,6 %/per annum

More and more people are using credit cards and overspending, failing to pay. Is there a way to deal with and limit overdue credit card debt?

Currently, credit card loans are increasingly popular because of the simplicity of the procedure and convenient payment method. However, this type of loan has many potential risks, especially when the borrower has overdue credit card debt .

When using credit cards from banks/financial institutions, you should always pay attention to agreements on debt payment time. However, even though there is a clear deadline, for a number of reasons (both subjective and objective) you make late payment, leading to overdue credit card debt .

Of course, overdue debt will cause you to suffer many consequences, the most serious is the risk of being entangled with the law. So is there a way to take control of yourself and your personal finances when using a credit card?

What is past due credit card debt ?

Today, credit cards are no longer a strange concept to many people. The popularity of credit loans is understandable because in addition to often lower interest rates than other forms of loans, users also have direct control over the card in the long run.

And this only happens when you don't have past due credit card debt . That is, an individual uses a card to pay expenses or withdraw cash directly but does not pay enough debt when it is due, leading to the formation of bad credit debt .

The cause of credit card overdue debt is often due to overspending. With this "magic" card in hand, you have the advantage of borrowing money to spend first and then pay the principal and interest later. From there, you can easily rely on and comfortably swipe your card without considering your solvency or repayment term.

Although banks/financial institutions have tried to extend the maximum debt from 45 to 55 days, no interest will be charged. But when you haven't paid the minimum loan, plus the penalty interest rate, the percentage of repayment is even lower. As a result, you are listed as bad debt on CIC credit system, leading to a serious decrease in loan approval rate in the future.

Young people have difficulty paying their overdue credit card debts

Young people have difficulty paying their overdue credit card debts

How does the bank handle overdue credit card debt ?

One, apply penalty fees

If you don't pay your loans and credit card interest on time, you will be subject to various penalty fees. Detail:

Overdue penalty fee / Late payment fee (determined by each bank), usually 4% of the late payment amount of that customer. The minimum regulation level is 50,000 VND depending on the bank.

Credit card interest rate , calculated when the credit card holder makes late payment of the outstanding balance of the previous month. In this interest rate range, banks can apply up to 30%.

Penalty fee for using over the credit limit , a fee to be paid when you spend too much and higher than the limit in the month (about 5% of the excess amount).

Second, proceed to collect credit debts

If you forget to pay your debt on time, the bank will take different measures such as texting, calling, emailing, contacting relatives to remind you to repay the debt. This process will go on until you've completed your debt. And if the two sides still do not have an agreed exchange, the bank will take stronger measures to get the money back.

●     With loans under 10 million VND

These loans need to be paid immediately to the bank. Otherwise, the credit history will appear bad debts, stored at CIC Credit Center. After 6 months, if you still have not paid off your debt, your credit card will be permanently blocked. Moreover, during the overdue period, the amount you spend will be charged with the aforementioned fees, the amount to be paid will be much more.

However, these bad debts, overdue debts will be erased by CIC if you repay them in full. And it won't affect your future borrowing.

●     With loans over 10 million VND

For overdue debts without collateral such as credit cards, banks will base on debt groups to implement different debt recovery measures.

The mild level is contacting you or a loved one in advance to remind you of past due debts. However, if the debt has not been recovered or the individual is not willing to pay the debt, leaving the overdue debt to group 5, the banks will proceed to complete the lawsuit file to the competent authority.

So, can overdue credit card debt be prosecuted ? The answer yes or no depends on your attitude and willingness to pay the debt. Because, paying credit card debt is a civil responsibility. Credit card debtors can only be held criminally responsible for the crime of credit abuse and appropriation, if the bank confirms that you have shown signs of absconding or deceiving to not pay the debt.

Paying credit card debt is a civil responsibility

Paying credit card debt is a civil responsibility

Guide to repay credit card overdue

Individuals with a history of bad debt on the CIC credit information site will find it very difficult to get a loan in the next time. In order for a bank/financial institution to agree to support, you must erase your past history of bad debt and overdue debt.

The steps to be taken to write off bad debts and overdue debts are:

●     Step 1 : Check the status of your debt group by ways such as Online CIC Check, Personal CIC Check directly at the National Credit Information Center or at the bank where you have overdue credit card debt .

●     Step 2 : Pay all outstanding debts, including interest and penalty fees incurred during the overdue period.

●     Step 3 : Wait for the CIC system to update the credit card history again, ensuring that the overdue debts have been fully paid.

Learn how to take control to avoid overdue credit card debt

When you are insolvent, in addition to the heavy financial pressure and the possibility of being bothered for a long time, you also have to suffer many other consequences in the future.

For example, for online cash loans at CashBerry . If you pay late or don't pay, in addition to the high penalty fee, CashBerry will automatically record the customer's credit history for the next loan.

Take control of yourself to use credit cards effectively

Take control of yourself to use credit cards effectively

Therefore, you should learn how to control your credit card bill so that overdue debt and bad debt do not happen.

- Consider reasonable spending, pay card debt within the time allowed to limit penalty fees.

- Try to pay off outstanding balances as soon as possible.

- Do not withdraw cash many times to avoid fees when withdrawing cash to pay.

- Limit opening multiple credit cards, so as not to reduce your credit score and usage limit for each card.

- Should learn and understand card usage information as well as how to calculate bank interest.

- Regularly monitor credit activities of the card, including transaction history, balance fluctuations to promptly detect bank errors.

- Think twice before buying certain products or services with a credit card. Make a reasonable spending plan, based on your ability to pay each month to ensure that there will be no late payment of the debt.

Credit card loans will be a real "paradise" if you know how to control yourself during the shopping process and "close" the application. However, there are still many cases of difficulties when doing the procedures for opening credit cards at banks. At this time, 24/7 online lending service at CashBerry Finance Company will be the most appropriate choice.

Just visit the website, leave your ID/CCCD information to verify that you have an instant loan of up to 10,000,000 VND in less than 10 minutes.

For any questions about the loan application process, you can contact the hotline 1900 63 83 85 or send a message to Fanpage CashBerry - Everyone's financial friend for answers!

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