Rus Articles Journal

What does nonpayment of the credit threaten the borrower with?

At registration of the credit agreement not everyone reflects that money for payment of a debt at some moment can not be enough. And information on penalties in the contract is checked for a moment. And in the conditions of unstable economy nobody can guarantee constant solvency of credited. So with what nonpayment of the credit threatens the borrower?

The delay in payment or nonpayment of the credit threatens with penalties. They in each bank issuing the credit can significantly differ. In one place to you will charge for each day of delay the certain fixed penalty sum, sometimes absolutely small, within 200 - 300 rubles, in another - days of delay can cost 1 - 3% of the credit sum.

What threatens the borrower here most of all? Some banks state requirements according to which those who delayed the next payment, are obliged to return all credit ahead of schedule in contracts. Here even as!

If the debt within three months is not extinguished, then the bank begins to work much more rigidly. These sanctions depend on on what conditions the credit, with pledge was taken or without. In the first case responsibility for the unpaid credit can be considered in court, i.e. the creditor files a lawsuit the claim with the requirement of realization of mortgage property. Keep in mind that in this case the bank, having compensated the expenses with delivery and service of the credit, has to return to the borrower the sum which remained from sale of property.

What consequences for the unpaid credit threaten the borrower who received from bank the requested sum without pledge? With the unsecured credit the situation is even more difficult. By a court decision for repayment of a credit debt any valuable property of the debtor can be sold. We know that the main value is an apartment presently. Therefore there is one “but“. So, if the apartment is the only dwelling a grief - the borrower, then the law forbids to select it. The last does not mean that the debtor can calm down and forget about not repaid debt. The bank has also other ways to return the money.

The bank can sell not returned credit to firm - a collector. This organization specializes in “knocking-out“ of debts.

The scheme of return of the unpaid credit at collectors consists usually of three stages. The first - precautionary and rather easy. It consists in constant calls to the debtor home and for work, and also sending to it the SMS - messages and even letters with a reminder on need of return of money. At this stage of action of collectors are rather correct: the reasons of nonpayment of the credit become clear, discussion of options and new terms of its repayment is offered.

If the debtor evades from these offers, then he is threatened by numerous obtaining letters with the warning of seizure of property and not palatable calls with direct threats. It as you guessed, the second stage. The third stage of work of firms - collectors consists in regular visits of his employees for work and home to the debtor with the same requirements, but already oral.

Here it is worth mentioning also so-called “black“ collectors, and in fact bandits at whom in an arsenal of means of knocking-out of money at the debtor it is possible to find also a package on the head, and the hot iron on a breast.

If the bank decides to work on a problem of nonpayment of the credit by the borrower independently, then in three months from the date of payment delay he has the right to appeal to court.

After a judgment, it is natural not in favor of the borrower, the judicial performer describes his property and monitors further full return of a debt. At the same time legal costs also carry to the debtor. If its income and property do not meet the available debts, then all claims are transferred further to the borrower`s guarantor.

Thus, nonpayment of the credit threatens the borrower with serious sanctions. Of course, it can change phone numbers, the place of work and even the residence and thus to disappear from collectors. He can also submit the counterclaim and have legal proceedings with bank, and then for many years pay a certain percent from the salary. But in all these cases the reputation of the careless borrower will suffer. With the spoiled credit history he should not address for the loan more. Any bank to it will not borrow money any more, or will offer strongly overestimated percent on the credit.

How to arrive to the debtor if he is not able to extinguish an installment on the credit?

Situations in life happen different. The main thing here - not to run away from the arisen financial problem. It all the same should be solved and tightened sooner or later with it does not follow as debts together with penalty fee and penalties will only collect. So if there were financial difficulties and nonpayment even of the first contribution for the credit threatens, it is the best of all to address to bank with an explanation for the arisen situation. And the bank, in turn, will regard such actions as the proof of responsibility and honesty of the borrower and can offer the new schedule for repayment of credit debt.

The debt, of course, should be repaid completely, but in that case the borrower will be exempted from a penalty fee, and his credit history will remain pure.