By signing a loan agreement with a bank, people hope that they will be able to pay off debts regularly. But financial stability does not only depend on hopes and desires. If the situation has changed dramatically, sources of income have decreased or disappeared altogether, one question remains: what to do with a bank loan?
Instructions
Step 1
There are several possible courses of action. Each of them has its positive and negative sides. You can pay off the debt and interest ahead of schedule by taking a loan from another bank on more attractive terms. But if in the future there is no prospect of leveling the financial situation, a loan in a second bank will also hang over you like a sword of Damocles.
Step 2
It's easier to try to negotiate with the bank. Do not hide from employees, come to a meeting, discuss possible ways to repay the loan. The bank can restructure the debt, extend the repayment period, reduce the interest rate, not apply (or cancel existing) penalties for delays. Remember that the bank is better off getting something from you than nothing at all.
Step 3
If the agreement fails, the bank does not want to make concessions, the issue remains in court. The procedure itself is not pleasant, it takes time and nerves, and in the overwhelming majority of cases, the courts rule in favor of the plaintiff (that is, the bank). But perhaps this path will be the only way for you to get a break.
Step 4
During the trial, interest and fines on the loan are not charged. After the decision is made by the court, the amount indicated in the writ of execution is final. Ask the court to reduce the amount of your debt, the court has the right to do this. Refer to your financial insolvency, show income certificates, that you have children or other persons dependent on you, to prove that you are not able to pay the entire amount of the debt.
Step 5
After the judgment is rendered, you will have to communicate with the bailiffs. Of course, they have the right to describe, seize and sell your property to cover the debt, but if nothing is formalized on you, the only thing left for them is to impose a foreclosure in a certain percentage on your sources of income. Taking into account Russian realities, the official salary of people is always less than the actual salary, therefore, if 25-50 percent is withheld from it, money for living will still remain.
Step 6
You can also wait patiently for the expiration of the limitation period, after which the bank is not entitled to go to court with a claim against you. This period is three years after the last payment made (call, meeting with bank employees). The main condition for the expiration of the limitation period is the absence during this period of any contacts between the bank (or the collectors to whom your debt was transferred) and you. And one more (unlikely) option is the bankruptcy of the bank. No creditor, no debt.
