How to get a loan deferment
Banks overdue loans are not profitable
This is exactly what almost all representatives of banking institutions say when it comes to loans. The situation is such that in the event that payments on a loan have ceased, the bank will face serious expenses. They also mean payment for the services of collection organizations, and litigations, and the costly and time-consuming mechanism for the implementation of the collected collateral. In addition, the heads of credit departments are constantly “get a scolding” for overdue loans. Therefore, all bank employees are interested in a peaceful solution to any problem situation.
If, God forbid, you have no opportunity to pay a monthly payment, you understand that you are late with payment, or your business is experiencing unplanned financial difficulties, do not be afraid of bank sanctions, don’t take time, but come voluntarily and find, together with bank employees, the situation. If you take the path of least resistance and just start hiding, the future is not too bright. For late payments you will be charged fines, penalties, and the loan amount will grow exponentially. In addition, your nervous system will be constantly tested on the strength of bank employees, collectors, and, in the end, bailiffs. Therefore, it is necessary to do everything initially to avoid falling into the debt trap, from which it will be literally impossible to get out. And for those who got into a difficult financial situation, the way out of which is not even visible, there is no sense in hoping for the favor of the bank. In this case, the bank will require radical action from the borrower – the sale of collateral and full repayment of the entire loan amount.
My neighbor has long been mired in loans. Her son played in an online casino, and in order to cover his debts, she had to take loans from three banks. For several years she tried to pay off these sums, even sold the house inherited from her parents, but the sums were simply very heavy. A neighbor went to work abroad (illegally), is not going to return, while her banks and collectors are looking for her at home. A terrible story in which everyone can be. MirSovetov recommends seven times to think and really assess the solvency before you make a loan at the bank. And think in advance where you can get money in case of force majeure (dismissal, illness, etc.)
Loan agreement is our everything
Unfortunately, our people are not accustomed to carefully read the documents before signing. No exception and loan agreement. His points must be studied thoroughly, especially the conditions of the “credit vacation”. It is there that the options of the bank’s actions should be indicated in case of financial difficulties for the client. If there are no words about such moments in the contract – run away from such a lender!
I hope that readers have already realized the need for amicable resolution of the problems that have arisen. Before going to the bank, carefully review the loan agreement, calm down and act without emotion. Be sure to take with you all possible documents confirming the fact of your financial problems. For example, a birth certificate of a child, a sick-list or a certificate from an employment center. If to all this, you also have a positive credit history (the loan was paid on time, there are no debts), then you can fully rely on a certain bank loyalty. Let’s look at possible solutions.
If you can not make another payment and delay it for 3-5 days. Warn the bank about this, clearly specify the date of payment and be sure to pay on time. In this case, as a rule, no penalties threaten you. Many banks have so-called “promised payment” forms on their websites. Fill, send – and the bank knows that you are a little late.
Deferred payment (loan and interest) up to 30 days. This option is provided in many banks. It is fraught with a fine, but on the condition of documentary evidence of a good reason, the bank may make the fine insignificant. Such “mistakes” can be afforded no more than three times during the whole repayment of the loan.
Postponement of payment of the loan body for up to a year. Not all banks, it is provided, however, as an option, we consider it. This means that you pay the interest on the loan on a regular basis and in full, and the loan body does not repay the whole year. It threatens you with an increase in the amount paid due to an increase in the loan repayment term.
You may be offered to reduce the amount of the monthly payment by extending the loan repayment period. Overpayment, as you know, will turn out solid. But this is better than nothing.
You also have the right to ask the bank to review the schedule for making payments. For example, instead of monthly installments, agree quarterly. You will have more time to raise funds.