What is a stop-and-go account?

Many people may not know about stop-and-go accounts, and many people may be experiencing stop-and-go accounts. So what is a stop-and-go account? What measures has it taken to implement this procedure, what process has it gone through, and what are its advantages or disadvantages?

Maybe you will think it's a good thing to stop charging interest when you see it, but on second thought, how can banks do such selfish things, so you'd better know its correct meaning first.

What is a stop-and-go account?

The official explanation is that the borrower failed to repay the loan principal and interest on schedule for personal reasons after obtaining the loan. Due to management needs, the bank suspends the accounting treatment of interest calculation on schedule, and suspends the balance and interest of the owed projects until later.

Usually it means that the loan has gone through the collection link, and the bank has to stop issuing loans because the dunning has no result. At this time, we should immediately check our loans, credit cards, etc. Whether it is repaid on time and whether it is in arrears. If so, we should know the number of overdue periods and the amount owed, how to make the best use of existing funds in a short time, deal with this matter in time and minimize losses.

Of course, the loss of interest shows that his personal credit information has been affected. If he wants to borrow more money now, it will be difficult to rob Peter to pay Paul. If it is not handled properly, it will inevitably affect his future loans and even buy a car or house. It's not worth the loss, it's better not to happen, and try not to stop paying for it.