Debts on loans: what to do? Loan for repayment of other loans

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 take loans for huge amounts without thinking about the fact that sooner or later the money will have to be given.

Let's take strangers, and we give ours

Often a sudden departure, illness or simply irresponsibility prevents the borrower from meeting its credit obligations on time. But such forgetfulness is "treated" quite easily. Having paid a couple of times an impressive fine for late payments, most likely, you will adjust your financial discipline. However, often everything is much more complicated. In an economic crisis, more people are losing their ability to pay. Whether this is due to job loss or other reasons is not so important.

Debts on loans. What to do? The crisis in life and in the wallet

After reading any loan agreement, you will certainly find there an item on which you must notify the bank about any changes in your life, be it a change of address, job or surname. Especially it concerns your solvency. The first thing you should do is go to the bank, and do it better two or three weeks before the alleged debt. Try to agree on a delay or change the payment schedule. So you can show the bank that you are also worried about debts on loans, learn how to fix the situation with the least losses for yourself.

Remember, all negotiations with the bank should be conducted only in writing. Subsequently, you will be able to prove that you really applied to the institution in order to solve the issue by peace. To the application, please attach the documents proving that the reason that made you apply to the bank is really respectful. This can be a certificate from the place of work that you have been reduced wages, a copy of the work record book with a record of dismissal, a certificate from the employment center, an extract from the medical file. A card showing the diagnosis and checks for expensive procedures or medications. The bank's employees will check and make the appropriate decision.

If you do not have the opportunity to visit the financial institution in person, send the documents by letter, only by all means required and with a notification of receipt.

How much is the delay

We can say that until recently, the bank is even profitable "forgetfulness" of customers, as for every day of delay the loan will have to pay a fine. The penalty amount can be from 0.01 to 3% per day or expressed in a fixed amount. There are cases when the bank accrues interest not only on the loan itself, but also on fines and penalties that were not paid on time. Then the amount of debt increases daily almost in geometric progression.

In addition, virtually every loan agreement contains a clause under which the bank can unilaterally demand an early repayment of the loan because of violation of the terms of the agreement. And the delay in payment is just such a violation.

Is it worth it to hide?

So, you have debts on loans. What to do? There are many options for resolving the issue, but what exactly you do not need to do is hide your financial difficulties from the bank. Do not think that they will forget about you and forgive your debt. If the employees of the financial institution do not pester you with calls and letters, the reasons for this may be different, but forgetfulness is definitely not one of them. Some banks simply do not have so many employees to react quickly to the slightest delay, and for individual structures it 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 eventually demand, especially if you took a loan on bail of any property.

After you miss several payments, the bank will write you to the "black list", and the credit history will be spoiled. Even if you decide the issue with repayment of the current loan, when you get a new one, you will have problems. And in the event that the amount of debt on the loan exceeds 1.5 million rubles, the bank may demand that you be recognized as a malicious defaulter. In this case, you are threatened not only by huge fines, but also by a real prison sentence - up to two years of imprisonment.

Let's agree! Restructuring

Accumulated debts on loans? You need to learn from the bank's employees about the possibility of restructuring in the first place. In 90% of cases, they make concessions to their clients who are in a difficult situation. This is because, according to the law, the bank should create a fund out of its own profit, which covers unpaid loans. This means that the net profit of the institution is reduced, not its assets. Therefore, any bank is vitally interested in having such a fund much less, because money must work.

The first thing you need to do is write an application for debt restructuring. After its consideration, the bank will decide on what to do with you further. The best solution for you will be the conclusion of a new agreement (or an additional agreement to an existing one) for a longer period with a simultaneous decrease in the amount of monthly repayment.

Sometimes, especially if you can prove to the bank that the difficulties are temporary, you can be given a credit holiday. This means that repayment of the principal debt on the loan is suspended, and only interest will be paid. Fines and penalties in this case, too, will not accrue. Such a service banks can provide 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 have failed with the restructuring of the debt, and for some reason the bank refused, you can try another option - a loan to pay off other loans. You can apply for lending in the same institution or apply to any other one of your choice.

Such a service may be relevant, for example, for a mortgage or 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 may not coincide, and the risk of delaying the next payment increases many times. Perhaps it is advisable to take a new loan in an amount sufficient to fully pay off all other loans, and closely monitor the timely fulfillment of its obligations.

Attracting a guarantor

You have debts on loans: what to do? Find a reliable guarantor. This is another way to solve the issue that a credit inspector can offer you. Until you regroup your funds and begin to fulfill your obligations in full, the guarantor will act as guarantor of your solvency. Of course, you will have to prove the solvency of the guarantor himself, for this you need a complete package of documents, usually the same as for the borrower. However, remember that if you still can not pay with the bank, all the burden of responsibility will lie on the guarantor.

There is a hunt: collectors and anti-collectors

If the amount of your debt exceeds ten dollars, and from the communication with the employees of the bank you evade, your debt can be transferred to the collection company. Sometimes such structures completely redeem your debt to the bank on a loan, but more often collectors work with it on terms of outsourcing. That is, they render a one-time service in each specific case. Communication with such companies is usually much more unpleasant than talking with employees of the bank. Although they are obliged to act within the legal framework, in practice this is not always the case.

By law, the collector must first contact you on the phone and try to convince you to repay the debt voluntarily. Next in the course is a mailing list. The collector must notify you in writing that the bank has instructed him to recover from you the current debt on the loan, indicate the amount of debt and maturity. If this call was ignored by you, the employees of the collection company will try to meet with you personally. For this they can come to your home or work. If no action has produced a positive result, the collection company may apply to the court for a claim for debt collection.

If this happens, you can try to resort to the services of anti-collectors. These are such legal organizations whose essence is the protection of borrowers from collectors or banks. Also, the anti-collector can help reduce the amount of the penalty and achieve a recalculation of the penalty on the loan.

To court?

If the agreement with the bank amicably still fails, then sooner or later the trial will move to court. It is not worth to be afraid of this, debt cancellation under loans is unlikely to happen, but for the period of the trial the loan amount will be frozen. This means that fines, penalties and penalties will cease to accrue, and the total amount will cease to increase steadily. That is why banks often go to court only in the most extreme case. In fact, while this has not happened, the amount of your debt continues to increase, which means that the probable profit of the bank also grows. Sometimes it comes to the fact that the total amount of fines and penalties far exceeds the debt itself. If you know for sure that you will not be able to repay the loan in the near future, but you can not reach an agreement with the bank - feel free to apply to the court yourself. The court, of course, will decide that the loan you return, but, having secured the support of an experienced lawyer, you can achieve the most acceptable terms for repayment.

Practical advice

Do not expect too much that after the expiration of the statute of limitations (in 3 years), you will be forgotten. This position can play with you a cruel joke. After 3 years, the bank will not be able to apply to the court with suit, but you yourself. So, of course, he will not be able to collect debts from you. But no one will prevent him from selling your debt to the collectors. And these gentlemen will be able to spoil your life for a very long time, because they do not have a limitation period. And how many collectors can take from you, God knows.

Credit will be forced to pay: due to what

If you took a loan against a car, apartment or other property, then first of all the forced collection will be due to the sale of this property. If the amount is insufficient, then the bailiffs will look at the money in national or foreign currency, and it is in such a sequence. Then the rest of the debtor's property will go into action, if any. Lastly, your salary will suffer, only the official one and not more than 50%.

And that you will not be able to pick up

They are not subject to seizure on account of repayment of loan debt:

• Food products for an amount equal to the subsistence level for all family members;
• Objects of everyday life and household goods - clothes, shoes, necessary furniture, etc., except for luxury goods, which can include a washing machine, microwave oven, food processor, juicer, TV, etc.;
• Objects that are needed to carry out professional activities, for example, if you are a violinist, the violin will remain with you;
• Things belonging to a disabled person - crutches, wheelchair (even very expensive);
• Pets, livestock, poultry, if they are divorced for personal use;
• Awards, prizes, state awards, medals;
• Social benefits, payments and compensation, for example, for the loss of a bread-winner.

By the way, an apartment for credit debts will leave you only if it is not the only dwelling suitable for the permanent residence of a family, or it is a mortgage on a mortgage. The same applies to 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, so that this does not happen in the future, everyone decides for himself. However, observing simple rules, you can try to protect yourself from such situations.

1. Before taking a loan, think about how you will give.
2. Do not take a few loans at once. The amount of payments in the end can be prohibitive.
3. Read the loan agreement, especially the places written in small print. Then the fines and commissions will not become a surprise for you.
4. If the loan amount is large enough, try to insure it, in the future it can come in handy.
5. In the event of any unforeseen situation, immediately contact the bank and try to resolve the matter peacefully.

Stick to these rules, and you will forget about the problems, at least until you take a new loan.