The debt burden of Russians is steadily increasing. Moreover, not only the amount increases, but also the number of loans issued to one borrower. Arrears are growing proportionally, and some borrowers do not have enough income to pay off monthly payments.
In an unpleasant situation, when there is not enough income to pay off loans, almost anyone can find themselves. The reasons can be very different - this is an incorrect assessment of one's own material capabilities, as well as a deterioration in the financial situation. Many borrowers take out loans with a stable income, but then for some reason (for example, illness, layoffs, replenishment in the family), their financial status may deteriorate, and the debt burden will remain unchanged.
What to do in a similar situation? There are several options. The most unreasonable among them is not to pay on the loan, to avoid calls from bank employees or collectors. After all, when it comes to court (and in 99% of cases it will) such an unscrupulous borrower can be found guilty of fraud and sentenced to up to 2 years or to a large fine.
Loan restructuring
If material difficulties arise, it is better to inform the bank as soon as possible (preferably before a delay occurs) about the difficulties that have arisen and ask for debt restructuring. The restructuring assumes an increase in the loan term while reducing the amount of the monthly payment. Of course, in this case, the overpayment on the loan will be greater than in the original version. However, the restructuring will make it possible to fulfill its obligations to the bank with the least loss.
To register a loan restructuring, the borrower must apply to the bank with a corresponding application. He should also attach documents confirming the occurrence of financial difficulties (resignation order, birth certificate of a child, certificate of illness, etc.). Banks consider such applications of the borrower on an individual basis, taking into account his credit history and the reason for insolvency. Sometimes the bank can provide a deferred payment for a certain period.
Even if the bank refused, the statement will be confirmation for the court that there is no fraud in the actions of the borrower and he made efforts to return the debt.
Refinancing
Refinancing - registration of new loans to repay old ones. Many are wary of this option, tk. perceive it as a kind of pyramid. Meanwhile, if you approach refinancing wisely, then it can become a very profitable way out of a difficult situation.
Today, many banks allow refinancing of several loans at once. In some cases, the borrower can get more favorable terms for themselves - both in terms of a lower interest rate and a longer loan term.
Refinancing is issued on the basis of an application with the attachment of a loan agreement and a certificate of the balance of the principal debt.
