It often happens that the loan needs to be recalculated. As a rule, this is due to early repayment of debt. However, it is important to carry out the recalculation procedure correctly. The banks themselves do not always voluntarily warn their borrower about such an opportunity.
It is necessary
- - application;
- - payment schedule.
Instructions
Step 1
To see if you can count on a recalculation, reread your loan agreement. It must contain the conditions for early repayment and recalculation of the entire loan amount at the same time.
Step 2
If both of these points are provided for in your document, there will be no problem. You just have to come to the bank, write an application and pay all the main debt. You won't have to pay interest anymore.
Step 3
It is most convenient to recalculate a loan with differentiated payments. Since it is with this form of monthly payments that you can quickly close the main debt and reduce the payment of interest. This is due to the fact that the debt is paid evenly, and interest is charged on the balance. This means that each subsequent payment is less than the previous ones.
Step 4
For annuity payments, i.e. equal in amount, by repaying the loan ahead of schedule, you will win only in the time of loan repayment. Even when recalculated. Indeed, with this form of payment, most of the first payments are interest and only at a minimum the principal debt. Therefore, by the time of early repayment, you manage to pay almost all the interest and practically do not close the main debt.
Step 5
If you repay the loan ahead of schedule not in full, but only in part, then in this case your debt should be recalculated. Write an application to the bank, its specialists will recalculate the actual balance of the debt and draw up a new schedule for payment of both interest and principal.
Step 6
In connection with the issuance of a loan, there is also such a nuance as various commissions and insurance. They also make up a pretty decent amount of debt. And it is these payments that banks do not consider it necessary to recount. If you are not satisfied with the recalculation of only the principal and interest, but you need the financial institution to return or deduct these one-time payments as payment for the principal debt, write a statement in 2 copies. Be sure to register it with the bank: let any employee, secretary, etc. do it. Leave one copy with the bank for review, the other for yourself.
Step 7
If the bank decides to deny you your request to recalculate all costs associated with the loan, ask to do so in writing, indicating the exact reason. Then feel free to go to court. Provide all papers relevant to the case - a payment schedule, documents confirming early repayment, an agreement where additional payments for services are spelled out. Remember that the more you provide evidence of your cleanliness and rightness, the more chances you have that the court will take your side.
