The rapid growth of the lending market leads to the fact that people get used to living beyond their means. A real opportunity to immediately get into use something that is not quite affordable, makes many people take loans in huge amounts, without thinking that sooner or later they will have to give money.
Take strangers, and give our
Often, a sudden departure, illness, or simply irresponsibility prevents the borrower from fulfilling his loan obligations on time. But such forgetfulness is “cured” quite easily. Having paid an impressive penalty for late payments a couple of times, most likely you will establish your financial discipline. However, often everything is much more complicated. In an economic crisis, more and more people are losing their ability to pay. Whether this happens due to job loss or for other reasons is not so important.
Debt on loans. What to do? The crisis in life and in the wallet
After reading any loan agreement, you will definitely find there a point where you must certainly notify the bank of any changes in your life, whether it is a change of address, place of work or last name. Especially it concerns your solvency. The first thing you should do is go to the bank, and it is better to do this two to three weeks before the expected occurrence of debt. Try to agree on a deferral or change in the payment schedule. So you can show the bank that you are also worried about loan debts, learn how to fix the situation with the least losses for yourself.
Remember, all negotiations with the bank should only be in writing. Subsequently, you will be able to prove that you really appealed to the institution in order to resolve the issue peacefully. Be sure to attach documents to the application confirming that the reason that caused you to contact the bank is indeed valid. This can be a certificate from the place of work stating that you have been lowered your salary, a copy of the work book with a letter of resignation, a certificate from the employment center, an extract from honey. cards showing the diagnosis and checks for expensive procedures or drugs. Bank employees will conduct an audit and make an appropriate decision.
If you do not have the opportunity to visit a financial institution in person, send the documents in a letter, only necessarily registered and with a notification of receipt.
How much is the delay
We can say that for some time now the bank is even benefiting from the “forgetfulness” of customers, since for each day of delay in credit you will have to pay a fine. The size of the penalty may be from 0.01 to 3% per day or expressed in a fixed amount. There are times when a bank accrues interest not only on the loan itself, but also on fines and penalties that are not paid on time. Then the amount of debt increases daily almost exponentially.
In addition, almost every loan agreement contains a clause on which the bank can unilaterally demand early repayment of the loan due to violation of the terms of the agreement. And late payment is just such a violation.
Is it worth it to hide?
So, you have loan debts. What to do? There are many options for resolving the issue, but what definitely does not need to be done is to hide your financial difficulties from the bank. Do not think that they will forget about you and forgive the debt. If employees of a financial institution do not bother you with calls and letters, then the reasons for this may be different, but forgetfulness is definitely not one of them. Some banks simply do not have such a number of employees to quickly respond to the slightest delay, and for some structures this is a kind of business, so to speak, an additional line of income. After all, the longer you do not pay, the more you can ultimately demand, especially if you took a loan secured by any property.
After you have delayed several payments, the bank will put you on the “black list” and your credit history will be damaged. Even if you decide to repay an existing loan, you will have problems getting a new one. And if the amount of the loan debt exceeds 1.5 million rubles, the bank may require you to be recognized as a malicious non-payer. In this case, you face not only gigantic fines, but also a real prison term - up to two years in prison.
Let's agree! Restructuring
Accumulated loan debts? First of all, it is necessary to learn from the bank employees about the possibility of restructuring. In 90% of cases, they make concessions to their clients who find themselves in a difficult situation. This happens because, by law, a bank must create a fund from its own profit that covers outstanding loans. This means that it is the net profit of the institution that is decreasing, and not its assets. Therefore, any bank is vitally interested in making such a fund much less, because money should work.
The first thing to do is write a debt restructuring statement. After reviewing it, the bank will decide what to do next. The best solution for you will be to conclude a new agreement (or an additional agreement to an existing one) for a longer period while reducing the amount of monthly repayment.
Sometimes, especially if you can prove to the bank that your difficulties are temporary, you can be given a credit vacation. This means that the repayment of the main debt on the loan is suspended, and only interest will have to be paid. Fines and penalties in this case will not be charged either. Banks can provide such a service to their borrowers for a period of one week to a couple of months. If during this time your financial situation does not improve, you will have to look for another way out of the situation.
Another loan? Refinancing
If you didn’t succeed with the debt restructuring, and for some reason the bank refused you, you can try another option - a loan to pay off other loans. You can apply for a loan at the same institution or go to any other of your choice.
Such a service may be relevant, for example, for a mortgage or in the case when you have several loans. In this situation, a loan to repay other loans will help to avoid confusion with payments to different banks. After all, the maturity dates may not coincide, and the risk of overdue next payment increases many times. It may be advisable to take a new loan in an amount sufficient to fully repay all other loans, and carefully monitor the timely implementation of its obligations.
We attract a guarantor
You have loan debts: what to do? Find a reliable guarantor. This is another way that a loan officer can offer you a solution. Until you regroup your money and begin to fulfill your obligations in full, the guarantor will act as a guarantor of your solvency. Of course, you will have to prove the solvency of the guarantor, for this you will need a full package of documents, usually the same as for the borrower. However, remember that if you still can not pay the bank, the entire burden of responsibility will fall on the guarantor.
There is a hunt: collectors and anti-collectors
If the amount of your debt exceeds ten dollars, and you shy away from communicating with bank employees, your debt may be transferred to a collection company. Sometimes such structures completely redeem your debt to the bank on a loan, but most often collectors work with it on an outsourced basis. That is, they provide a one-time service in each case. Communication with such companies is usually much more unpleasant than talking with bank employees. Although they are required to act within the legal framework, in practice this does not always happen.
By law, the collector must first contact you by telephone and try to convince you to repay the debt voluntarily. Next up is the mailing list. The collector must notify you in writing that the bank has instructed him to collect the current loan debt from you, indicate the amount of the debt and the repayment period. If this call was also ignored by you, employees of the collection company will try to meet with you personally. To do this, they can come to your home or work. If no actions have brought a positive result, the collection company may file a lawsuit with the court for the enforcement of
debt collection.If this happens, you can try to resort to the services of anti-collectors. These are such legal organizations, the essence of which is to protect borrowers from collectors or banks. Also, an anti-collector can help reduce the amount of the fine and achieve recounting of the loan penalty.
To court?
If an agreement with the bank is not amicably amicable, sooner or later, the proceedings will move to court. You should not be afraid of this, debt write-offs are unlikely to be written off, but the loan amount will be frozen during the trial. This means that fines, penalties and forfeits will no longer be charged and the total amount will cease to increase steadily. That is why banks most often go to court only in the most extreme case. After all, until this happens, the amount of your debt continues to increase, which means that the probable profit of the bank is also growing. Sometimes it comes to the fact that the total amount of fines and penalties significantly exceeds the debt itself. If you know for sure that it will not be possible to repay the loan in the near future, and you cannot reach an agreement with the bank, feel free to contact the court yourself. The court, of course, will decide that you will return the loan, but, with the support of an experienced lawyer, you can achieve the most suitable repayment conditions for yourself.
Practical advice
Do not rely too much on the fact that after the expiration of the limitation period (after 3 years) they will forget about you. This position can play a trick on you. After 3 years, not only the bank, but you yourself will not be able to sue. So, of course, he will not be able to collect the debt from you. But no one will stop him from selling your debt to collectors. And these gentlemen will be able to spoil your life for a very long time, because they have no statute of limitations. And how many collectors can take from you, only God knows.
The loan will be forced to pay: due to what
If you took a loan secured by a car, apartment or other property, then the first and foremost enforcement will be through the sale of this property. If the amount is insufficient, then the eyes of the bailiffs will turn to cash in national or foreign currency, and in this order. Then the rest of the debtor's property, if any, will be used. Lastly, your salary will suffer, only official and not more than 50%.
And what they can’t take
The following shall not be subject to withdrawal for repayment of loan debt:
- foodstuffs equal to the cost of living for all family members;
- household and household goods - clothes, shoes, necessary furniture, etc., except for luxury goods, which may include a washing machine, microwave, food processor, juicer, TV, etc .;
- items that are needed to carry out professional activities, for example, if you are a violinist, the violin will remain with you;
- things that belong to a disabled person - crutches, a wheelchair (even very expensive);
- domestic animals, livestock, poultry, if they are bred for personal needs;
- awards, prizes, state prizes, medals;
- social benefits, payments and compensation, for example, loss of a breadwinner.
By the way, an apartment for debts on a loan will leave you only if it is not the only housing suitable for permanent residence of a family, or is a mortgage deposit. The same goes for a private house and land.
How to avoid this in the future
It is very unpleasant when there are debts on loans. What to do to prevent this from happening again, everyone decides for himself. However, observing simple rules, you can try to protect yourself from such situations.
- Before you take a loan, think about how you will give.
- Do not take multiple loans at once. The amount of payments in the end may be unbearable.
- Read the loan agreement, especially the places written in small print. Then fines and commissions will not come as a surprise to you.
- If the loan amount is large enough, try to insure it, in the future it may come in handy.
- If any unforeseen situation arises, immediately contact the bank and try to resolve the issue peacefully.
Stick to these rules and you will forget about the problems, at least until you take a new loan.