The word "restructuring" is a borrowing from the English language, means a change in structure, order, structure. The term is general, therefore the processes denoted by this concept can be found in any kind of activity. For example, in Western financial practices there is such a thing as “restructuring a company”. In this case, the company is being rebuilt under the influence of internal or external factors, as the current state of affairs is recognized as ineffective.
For a company, restructuring is, first of all, an assessment of the current state and setting new goals that will need to be achieved. Initial analysis, as a rule, includes an assessment of the activities of the current leadership, current strategies, tax, legal analysis. Therefore, almost always a change in the structure of a company affects many more layers than just financial restructuring.
After the main problems are identified, experts develop a new strategy and design tasks. At this stage, possible achievements, risks, volumes of necessary resources are calculated. Sometimes several initiatives are prepared, from which management and owners choose the best option.
Restructuring is a complex process, the result of which should be the organization’s exit to a fundamentally new level. Somewhat different happens in the vastness of our homeland in the financial sphere. Today, many individuals and legal entities are faced with the fact that they cannot repay loans and interest on them in due time.
Debt restructuring is an agreement between the creditor and the borrower, which is usually supplemented by a number of documents (a copy of the loan agreement, a copy of the passport and work book, a certificate indicating the amounts paid and the amount of debt, extracts from the USRLE). A credit institution checks the solvency of the borrower, and if it is established that it is impossible to pay the loan under current conditions, another scheme for working together is selected for it.
Most often, financial institutions go to increase payment periods, change the payment repayment schedule, change the debt currency (for example, from euro to Russian rubles). In addition, the client may be offered a “credit vacation” when a deferral of repayment of the principal amount of the payment is given for a certain period. However, one should not deceive oneself here, since the bank will still receive the money owed to it, adding it to the total amount of debt after the end of the grace period.
Restructuring proposed by credit institutions is not a gift. Almost always, a temporary improvement will result in additional interest. Therefore, all the proposed schemes must be carefully disassembled and calculated independently. Mortgage payers who find themselves in a difficult financial situation can seek advice from ARIZHK (a special agency for the restructuring of loans in the field of mortgages), where they can advise schemes with a stabilization loan or contract.