Tips for borrowers. Do I have to pay a loan if the bank has burst?

In the global economic crisis, we almost every day learn about the bankruptcy of a financial institution. Many borrowers, learning that their bank has suddenly ceased to exist, naively believe that they now do not need to return the funds. However, their joy is somewhat premature. After reading this article, you will learn what to do if the bank has burst, whether it is necessary to pay the loan and to whom.

What is bankruptcy?

First of all, it should be understood that this process is not unexpected. This phenomenon does not occur in an instant. Those who are interested in whether to pay a loan, if the bank has burst, it will be useful to know that bankruptcy is considered a kind of indicator of the insolvency of a financial institution and the ineffectiveness of its methods of work. And the banks themselves are beginning to understand what awaits them, long before his clients learn about it. The management of the institution prefers to keep quiet about the problems, making attempts to rehabilitate the weak points of the bank entrusted to it. In some cases, such actions give a certain result, leading to the improvement of the financial organization. But sometimes it happens that the efforts of highly qualified specialists do not lead to the desired results and management has to initiate a complicated bankruptcy procedure, which often stretches for a fairly long period.

What is the status of a loan after bankruptcy?

Borrowers who care what to do, if the bank has burst (whether to pay a loan in such cases), it should be understood that this institution is just one of the links in financial relationships. All the money lent out of debt did not appear from the air, so in any case they will have to be returned. Bankruptcy of the bank does not remove borrowers from their responsibilities. Therefore, you will have to fulfill your obligations.

Who and when is obliged to notify the borrower about what happened?

All borrowers who are considering whether to pay a loan, if the bank goes bankrupt, sooner or later receive a written notification from a representative of the company involved in the liquidation of the "burst" institution. So the client is informed that the right of claim was transferred to another creditor. The official document must contain information on changes in the order of repayment of the existing debt.

In some cases, the borrower may be invited to renew the contract. Before putting your own autograph under a new document, you need to carefully read the conditions prescribed in it. Those who are interested in whether to pay a loan, if the bank has burst, should clearly understand that they have the right to disagree on new less favorable terms. Sometimes a new lender starts demanding early repayment of debts in exchange for a low interest rate and writing off all fines. The borrower has every right to refuse, but if there is such an opportunity, it is better to pay off the debt in one payment.

Actions of the borrower who learned about the bankruptcy of the bank

Having received an official notification on the liquidation of a financial institution in which a loan is opened, the borrower must take several simple steps that will avoid possible troubles. First of all, do not sit and think about whether you need to pay a loan if the bank has burst. As soon as possible, contact the central office of a bankrupt institution. It is there that you can usually find representatives of the so-called temporary administration. After presenting your loan agreement, you need to find out the new details, which should now be transferred monthly payments. It is not necessary to repay the loan on the old requisites. This is fraught with huge problems, because your money can simply hang in the system.

If, for some reason, you have not been provided with new details, and the deadline for making the next payment is inexorably approaching, you should transfer the money to the previous account and be sure to keep the receipt. In the future it will help to prove the fact of making a payment.

Conclusion

Now you know exactly whether you need to pay a loan if the bank has burst. Do not waste time hoping that they will forget about you or forgive your debts. Still no one managed to avoid payments on a loan taken in a bankrupt bank. In any case, you will have to return the amount taken. And the monthly payment should consist not only of the main debt, but also of interest accrued on it. This is very important, since bankruptcy is a phenomenon in which all penalties prescribed in the contract are suspended. But they are renewed right after the rights to claim the debt will be transferred to the new creditor. Therefore, in order to avoid possible problems, it is necessary to make mandatory payments in full and on time.