The desire of many people to get everything at once and now through lending is understandable and justified. However, debts should be paid - this is the law. You cannot be insured against life changes, and it may happen that the borrower is unable to continue to pay monthly installments.
Debt recovery activities of banks
If the borrower does not repay the debt, the bank has the opportunity to regulate this issue through restructuring. At the same time, the obligation to pay is not removed from the debtor, but he is given the opportunity to change the payment schedule, reduce the amount of the monthly installment - there are several options depending on the individual situation. The bank may refuse to restructure if it does not see a real possibility of payments from the debtor.
If an application for restructuring is not submitted, the bank can involve its own security services in the collection, whose responsibilities include pre-trial settlement of the problem. If no consensus is reached, the bank is left with two ways out - going to court or, if the loan was issued with collateral, the bank will try to recover the debt from the guarantor or from the sale of the collateral.
As a rule, they turn to the court for the enforced recovery of large sums. The percentage of winnings in such cases approaches 100% in favor of the bank, and the legal costs are borne by the losing party.
Arrears in court are deducted from the salary when the employer receives the executive person. In accordance with the law, the amount withheld cannot exceed 50% of the salary, including bonuses and vacation pay, but excluding social benefits and benefits.
Both restructuring and litigation spoil the credit history, which will be difficult to recover. In addition, if there is a debt on the loan, the debtor may not be released abroad even if he has a ticket, voucher and visa, although this clause of the law is currently at the stage of correction.
The third way of enforcement is the assignment of claims to third parties, that is, collection agencies.
The powers of collection agencies to recover debts on loans
Collection agencies are contacted for bad debts overdue for more than six months, or the amount of which is not significant for the bank. In this case, it is more profitable for the bank to get rid of the debt even for next to nothing, and the selling value of retail debt sometimes does not exceed 1% of the total amount.
Collection agencies are not credit institutions. Their activities are still regulated by separate clauses of the Civil Code of the Russian Federation, the Law on Banks and Banking Activities, the Law on Consumer Rights and some others.
In fact, modern collection companies acquire debt claims literally at their own peril and risk, since they have only general legal capacity. This means that their only instrument for realizing the acquired rights of claim is to go to court on an equal basis with civil organizations, which is extremely rare.
