Rus Articles Journal

There is no money for repayment of debt on the credit... What exit?

Life - it is striped. Still yesterday the sun and " shone; roses scarlet blossomed and today you suddenly found out that in a family financial crisis. There is nothing to repay the loan

About that not to take it at all, it is possible not to begin conversation also. Already took, and it could not be repaid No matter, for what reasons - whether the supporter appeared behind a life board, or the bank lifted percent. Desperate situations do not happen. Let`s look for the decision together.

An exit the first - to agree with bank amicably. Some banks can go to such measure as to remake debt. That is to prolong a credit repayment period that will cause reduction of monthly payments. It is possible to go some other way - to delay payment to a two-three of months. It, of course, will increase the sums of the following payments. This option is convenient if you are sure that through two - three months your financial position is stabilized.

Sometimes banks are ready to forgive to the borrower of a penalty fee and penalties. The main thing that it returned the main amount of debt. On this way it is difficult to go too - it is necessary to be able to agree with bank. After the analysis of your situation such decision can be made. To prove the temporary difficulties, it is necessary to provide the documents confirming your insolvency. Temporary. Usually the bank goes on a meeting in case of the serious vital tests demanding financial investments. It can be death of the family member. Child`s birth. Long illness.

The bank needs to report about all this in time, but not after when to you collectors send the employees. Copies of the birth certificate or death, the reference from the attending physician, all supporting documents are put together with your application to a bank.

Debt restructuring involves a reef in the form of increase in total amount of the credit. It should be considered when calculating the financial opportunities.

In Russia there is yet no such law that it was possible to declare the natural person a bankrupt. But in fact you become such person if you cannot fulfill the obligations for payment a duty to bank. Safely declare to bank the not solvency.

In this case the bank will appeal to court at once. It is necessary to pay all the same. But you to yourself will save nerves - the link of collectors - the people who are beating out debts from creditors will drop out.

The court will consider your circumstances and will make the decision to delay payment or will make the new plan of its repayment. If you as debtor have no opportunities to pay off also through the term determined by court, most likely, will describe your property and will offer it for sale. Happens so that all your property will not be able to repay also a half of the loan. The bank will lag behind you, and here your credit history will be forever spoiled. You will automatically get to a black list of insolvent clients in all banks of the country.

For reference: there is a list of property which cannot be confiscated for debts. These those premises in which you live if it at you the only thing. The land plot which is not connected with business. Household goods and individual use, except luxury goods and jewelry, what will be confiscated first of all. Is not subject confiscations and that property which is connected with professional activity of the debtor. Working cattle and constructions for its contents. Food and seeds for crops. Fuel for heating of the dwelling and cooking. Automobiles and other property necessary for the debtor in connection with his disability. Prizes, memorable signs and awards which marked out the debtor.

So sometimes it is even favorable to declare himself a bankrupt. But the safest way to avoid all above-mentioned troubles - competently to count the financial opportunities. To put in calculation all possible risks before taking the credit. That is to manage to count them and to insure surely all sum of a loan. The paid insurance will be able to compensate completely an amount of debt a grief - the borrower.

Statistically every second Russian at least once took the credit in lives. And only 10% from them - malicious defaulters. These figures were actual before world financial crisis. Now the army of defaulters of the credits is replenished. Banks reluctantly give new Under high percent. The credit - the risky project. Consider all Pros and cons before again plunging into the abyss of financial burden.