Most Russians today have credit obligations. Unfortunately, sometimes situations arise in life when there is no way to pay the loan. Moreover, these circumstances often do not depend on the will of the client. Delayed wages, layoffs, administrative leave … And sometimes it can be a divorce, fire, robbery. If for some cases insurance is provided, then for others - no. What to do?
First of all, don't panic or hide. "Ostrich politics" is useless. It is better to go straight to the bank and honestly explain that you cannot continue to pay the loan. Then there are three options: deferral, loan restructuring or refinancing. What is it?
Let's start with a deferral. It happens that the deterioration of your financial situation is temporary - a sudden reduction or administrative leave. If both you and the bank are sure that after a while everything will return to normal, you can write an application for a deferral. A deferral can be granted for a period from 3 months to a whole year. Naturally, at this time, neither interest nor any interest is charged.
Restructuring is, in other words, changing the terms of a loan to more lenient ones. For example, your salary has dropped. Then the bank simply extends the term of the loan, which reduces the amount of monthly payments. You can also negotiate a reduction in the interest rate. It all depends on the specific situation. Don't be afraid to talk to your manager about restructuring. It is more profitable for the bank to get at least some money and interest from you than not to get anything and "set" collectors on you.
Refinancing is a more complex instrument, it will require the participation of a third party. As a rule, another bank acts as a third party. If restructuring is not possible, you should look for a loan on more favorable terms in another bank. Then, with this borrowed loan, cover that loan and pay on it. The complexity of the situation is that it is not always possible to find a better loan. Moreover, if you have credit obligations, another bank may refuse to issue funds to you. You can also find such a way out: take another loan from the same bank and cover the previous one with it. For example, you took out a car loan and covered it with a consumer loan. The main thing is to compare interest rates and explain to managers what you want to do.
What you should NOT do is go to microfinance centers or microloan offices. Typically, they are contacted to cover a single monthly payment. But payment alone will not solve the problem. Moreover, you will have to give back to them next month.
If you are pressed by "collectors" and bankers, then it makes sense to turn to anti-collectors. Usually these are professional lawyers who specialize in such lending operations. They will help you achieve a more “lenient” loan repayment regime, and if something happens, they will represent you before the bank in court.
But remember - it is more profitable for banks to let you pay than to waste time and money on court and collectors. Therefore, even if you are late with several payments, it makes sense to come to the bank and find a solution to the situation. Most importantly, explain that you acknowledge the debt and are willing to pay. Then he will definitely meet you.
