"Credit holidays" service: rules of registration, application, documents and responses

Unfortunately, in recent years, an increasing number of people who can not reasonably assess their own financial capabilities, become debtors of banking institutions. The worst thing a person can do in this situation is to aggravate an already difficult situation, accumulating debts. Those who can not immediately pay the entire amount can apply to the bank and write an application for a "credit vacation". In most cases, lenders make concessions to borrowers, because it is also not profitable for them to collect debtors, charging fines and not receiving any payments.

What is a "credit holiday"?

This is a kind of payment deferral, which allows a client of a banking institution that does not have money at the moment to temporarily take a break from the excessive financial burden. This period is provided for the person to be able to solve all his problems related to the change of residence, treatment or the search for a permanent source of income.

In what cases is the deferral of payments?

In the conditions of a progressive economic recession, an increasing number of people, who received a high salary a few years ago, remain without work. Many of them have a mortgage or some other debt to the bank, which has become an unbearable burden. In order not to accumulate astronomical amounts for an unpaid loan, you can contact the bank and find out how to get a "credit vacation". In most cases, financial institutions meet people who find themselves in a difficult life situation. So, the possibility of delay is prescribed in most mortgage contracts. In some cases, the borrower can even choose which of the schemes currently available suits him more than others - partial or full.

Having received a positive response, it is not naive to expect that the bank will forgive the debt. The fact of receiving a deferment, as a rule, leads to a significant increase in the cost of the loan. Often, after the credit holiday has come to an end, the bank makes a recalculation of payments with an increase in their size. Such a service can be provided to borrowers who meet several requirements. First of all, the debtor applying for deferral of payments should not have delinquencies, and not only in this institution. The second condition for the borrower is the presence of an un-structured debt, until the full repayment of which there are at least three mandatory payments.

In what cases does the bank have the right to refuse to grant a deferral?

The reason for refusing to issue a "credit vacation" may be the delay in the mandatory monthly installment. Also, financial organizations have the right not to satisfy the request of a person who does not have financial difficulties, health problems and who has not lost his job. In the design of "credit holidays" can be denied and in the event that from the date of receipt of the loan was less than three months.

Algorithm for receiving a deferred payment

The service "credit holidays" can be provided after documenting the fact that the borrower is experiencing financial difficulties and is temporarily unable to pay the bills. But in exceptional cases banks give a deferral of payments simply at the request of a person. However, this service is not gratuitous. People who are interested in how to make "credit holidays" should take certain actions.

The first thing you need to do is contact the bank and notify the bank about your problems. After this, it is necessary to produce evidence to prove the applicant's difficult financial situation. As a documentary evidence can be used a photocopy of the work record book or a certificate from the hospital. Employees of the bank are required to familiarize the applicant with the conditions under which "credit holidays" are provided. Before signing a new contract, you should make sure that it does not provide for an increase in the interest rate, the imposition of fines or interest for the duration of the deferral. Only after that you can proceed to write an application for a "credit holiday" in the name of the bank manager. After consideration of the application, the person who received a positive response should appear in the bank for signing the relevant papers and receiving a new schedule for making payments.

"Credit Holidays" in Sberbank: how to apply?

In this financial institution, a debt restructuring service is provided with a reduction in the monthly installment amount. In order to exercise its right, it is necessary to apply to the representatives of the bank with the appropriate application. Anyone who wants to get a "credit holiday" in Sberbank should provide documentary evidence of problems and difficulties. In some cases, the client may be offered an extension of the contract with an increase in the interest rate. A person who claims to defer payments should have an impeccable history. "Credit holidays" can be granted for up to 12 months. And the contract itself is extended for two years, that is, the amount of the monthly contribution is reduced.

In which cases is it inappropriate to make a deferral?

If a borrower who has nothing to pay bills has a mortgage loan, then getting a deferment will only exacerbate an already difficult situation. In this case, it is better to soberly assess the situation and try to sell the property, burdened with a loan. After the realization of the pledge, the debtor will not only get rid of excessive debts, but also return some of his own money. Postponing to the last and not paying the debt, a person will still be forced to sell collateral. Only this will be accompanied by lengthy legal proceedings, as a result of which the borrower will lose most of its funds, as the amount of debt will be penalized for late payment of monthly payments.

Advantages of the service and feedback about it

Many borrowers are interested in "credit holidays" in Sberbank. How to draw up such a delay and what it gives, we considered. It should be understood that this service allows a person not to bring the case to lengthy, and sometimes even humiliating, trials and gives him time to solve his problems. The testimonies of clients who took advantage of the "credit holidays" were divided into two diametrically opposite camps. One part of people is grateful to the banks, which allowed them to temporarily not make excessive contributions and improve their financial situation. Others, on the contrary, only aggravated an already difficult situation, substantially increasing the amount of debt. Therefore, it is up to the borrower to decide whether to use this service or not. At the same time, it is very important to really assess your material possibilities and to realize that this is nothing more than a delay, giving a chance to find a way out of the situation.

Is it worth using "credit holidays"?

It should be understood that any delays in repayment of the loan lead to an increase in the overpayment. During the grace period, the principal amount of debt is not reduced by a penny, therefore, interest is not reduced. The longer "holidays" last, the more the cost of credit will increase. Therefore, it is desirable to use this service only in exceptional cases.

Without repaying the debt and not making a deferment, a person may face another, even greater problem. He will be penalized. Moreover, in recent times there have become frequent cases when banks transfer distressed loans to collector offices whose employees begin to literally harass the debtor with visits and threatening calls. And as soon as the length of the delay exceeds 90 days, the banking institution has the right to initiate a judicial-claim activity. After receiving a relevant court decision, an insolvent borrower may lose collateral.