It is worth applying for this service in advance, realizing that there is no way to pay the loan. But if there are already delays, many institutions are ready to restructure the loan. It is in their interests to get the money back in any way, while it is in yours to increase the repayment period and reduce the size of payments.

In this case, the debt is stretched over a long period (a year, two or more) in order to reduce the size as much as possible. monthly fee. You sign a new agreement with a financial institution, where you undertake to deposit money on time. This way you can avoid penalties. Often, during a restructuring, the lender is willing to write off part of the pre-assessed late fees.

Credit holidays

Restructuring is suitable for those who are able to make minimum payments. What to do if you have nothing to pay for the loan in principle? It is possible to contact the lender and defer payment. A serious justification for such a request is needed.

Must be real problem: you were fired, you needed expensive treatment, something happened to your property, etc. You will need documents confirming your words and the inability to pay.

If the application is approved, the borrower receives a certain time to decide financial problems, then resumes payments as before.

Insurance

In some cases, the insurance company assumes the client's debt obligations. This applies to illnesses and injuries that leave the client temporarily or permanently unable to work. You will need a medical report and proof that you did not cause the injury yourself and were not under the influence of alcohol.

Help from relatives

The most reliable way out if there is no money to pay the loan. With the help of reborrowed money, you can quickly return the entire amount with interest. After all, relatives do not need interest payments.

Refinancing

Having many loans, it is risky to take out a new one. But this is a good alternative to running around to all banking institutions with requests to defer payment or restructure the debt. This requires constant monitoring of each loan, changes in interest rates and other conditions. And not everyone the bank will go towards.

If you have nothing to repay a loan to each organization on its terms, it is easier to find one that is ready to issue a loan to repay the previous one. Similar operations are carried out by Sberbank, VTB Bank, Interprombank, Rosselkhozbank, etc. To approve the application, you will need all documentation related to previous loans, in particular, statements of the remaining unpaid amount, confirmation that previous payments were made. It is advisable to do this before delays occur, this will increase the chances of approval of the application. Unspoiled credit history will become a powerful argument.

As a result, the banking institution closes your old obligations ahead of schedule, and you receive a new agreement with just one credit institution.

Trial

What to do if you have nothing to pay for the loan and you are threatened with legal action? What the debtor fears most is the situation when there is a delay, penalties are growing exponentially, and the creditor intends to sue. In fact, it benefits you.

Having arrears, there is no point in frantically looking for funds and making a small payment towards the debt. Penalties will easily cover the amount paid, and the debt will remain the same.

You benefit from a lawsuit. It will allow you to stop sliding into the abyss of growing debt and begin to solve the problem. After the first meeting, the debt is fixed and does not grow, and penalties are no longer charged. Sometimes a significant portion of already accrued fines is written off.

The court, unlike financial organization, helps the borrower repay the debt in the most convenient way. Analyzing the client’s financial situation, he calculates the optimal amount of regular payments (for example, a certain percentage of salary) without additional interest.

If the situation is complex and there are no sources of income, bailiffs will seize part of the property to pay off the loan. When neither , nor sufficient amount of property is available, the court may order the banking institution to write off the money and close the case.

If you can’t pay the bank loan, don’t panic. There are many ways to solve the problem, starting from a dialogue with the creditor himself and ending with a lawsuit.

Today it is not so rare to find a situation where a person collects a lot of loans in different banks for different needs. And then he realizes that he has a lot of debts, but he has nothing to pay with. What should a borrower do in such a situation? We'll tell you further.

Debt: what is it?

Indebtedness is the presence of several credit obligations to different individuals and legal entities. In dry banking language, this term has a different name - ““.

It determines the ratio of the borrower's income to his liabilities. If there are too many debts, then this means that the burden on the person is too great, and new loan he won't get it.

It's not difficult to get caught up in debt. Trying to straighten out my unstable financial position, a person takes out a new loan to pay off an existing one. At the same time, unfortunately, new applications are approved either for or for, where the interest rates are completely unprofitable.

Then he thoughtlessly agrees to a “profitable” loan deal, wanting to cover his debts to other creditors... As a result, he remains indebted everywhere and completely insolvent.

You need to realize that the debt will not just disappear and the bank will not forget about you, and therefore you need to carefully read the advice from forums and video instructions from YouTube and start taking action.

When people find themselves in such situations, popularly called a “debt hole,” not everyone knows that there is a completely legal way out of such a situation. But the first thing you should start with is to review all your loans and try to pay off at least the smallest ones.

What are the consequences of non-payment of loans?

Many people, realizing that they have nothing to pay their debts, simply go deep “underground”. In other words, they begin to hide from bank employees, diligently ignoring all calls, SMS and letters that come from the collection department. Often debtors hope that they will simply be forgotten about.

What's really going on? The bank does not forget about anyone, does not forgive anyone’s debts. Every day the amount of your debt will increase due to the amount, and the penalty amount may be wound or even exceed the amount of your debt.

The bank, having identified a problem debtor, first tries to resolve this issue on its own, through calls and letters. If this fails, there are two options here:

• the bank will go to court and, with help, will seek the return of its money. The result is a damaged credit history, frozen accounts, possible seizure of property, and a ban on traveling abroad.
• or the loan is resold to collectors who will not stand on ceremony with you in extracting money. If, before the court decision was made, you began to receive warnings in the form of dubious calls, threats and incomprehensible offers, you can contact the anti-collection service. After all, collectors are professionals too. Read more about the legality of such methods by collectors on this page

Important! When a person complains about a lack of funds to pay off loans, he must prove that he has done at least something to reduce debts. You shouldn’t wait until penalties start accruing and the creditor starts litigation.

What to do when there are several loans, but there is nothing to pay them off?

The first right step is to tell the creditor that you have nothing to pay. What is needed for that:

In addition, many borrowers resort to refinancing if they already have loans, but also need additional money for personal purposes. In this case, you can sign up for this service and receive money not only to close your existing loans, but also “free” funds.

You can use this service if you are experiencing temporary financial difficulties, but are not yet in arrears. In this situation, you can gain some time and also reduce your debt burden by increasing the term of the contract and lowering the interest rate.

Many companies offer a similar service for refinancing or consolidation; you can familiarize yourself with these offers. Important: it is not available to borrowers with damaged CI. In addition, you will not be able to refinance debts from microfinance companies.

You can use the bankruptcy law individual . According to its provisions, any citizen of Russia who has a debt of 500 thousand or more, as well as arrears of 3 months or more, can apply to the court to declare himself bankrupt.

Depending on the court decision, you can either be given a deferment, or reduce the amount of debt by writing off fines and penalties, or completely close the debt due to your lack of property and official employment. Details can be found in.

When going to court, you should not expect a miracle. If your poor financial situation is documented, then it will still not be possible to avoid payments completely. The only benefit is that the debt will not grow.

Most likely, the deferment period for payments will be determined, but not their cancellation. Debt restructuring may also be scheduled with a change in the payment schedule, where the repayment period may be extended in order to reduce the burden on the borrower’s budget.

Remember that the bankruptcy procedure is not free, you will need to pay state fee for going to court, services of a bankruptcy trustee, lawyer, etc. On average, expenses are at least 50,000 rubles.

You will still have to pay your debts. Therefore, before collecting a bunch of loans, correctly assess your financial stability and take into account other possible ways repayment.

If you want to know how to get a loan without refusal? Then follow this link. If you have a bad credit history and banks refuse you, then you definitely need to read this. If you just want to get a loan for favorable conditions then click here.
If you want to issue credit card, then follow this link. Look for other posts on this topic.

The current socio-economic situation in Russia, as well as throughout the world, leaves much to be desired, and it’s hardest for those who were unlucky during this period take a loan.

Job cuts and layoffs wages, rapid inflation and other factors make a person insolvent. But it’s no secret that this promises serious trouble. But is there really no way out in the case where there is simply nothing to pay off the loan? Eat. We will talk about this further.

There is nothing to pay the loan with. What to do?

So, there are several ways to avoid the dire consequences of your own insolvency, and the most effective are debt restructuring and insurance. But what is it?

Restructuring

Restructuring is a legal operation to reduce mandatory monthly payments and increasing the payment period. That is, if, for example, a person owes fifty thousand rubles and, according to the agreement, must pay them back in three months at 10%, then by filing a restructuring, he can pay off the debt in up to six months and with a reduced interest rate.

Banking institutions do not have the right to refuse this operation, since debt restructuring is a government program aimed at improving economic situation the least protected social strata of the population. And, needless to say, it is much more profitable for banks to stretch out the debt and receive, albeit less and longer, their profits than to spend much more large amounts and your own precious time for trials, which can last for years.

Important: An application for this legal operation must be submitted through clerical department of a banking institution. After signing the paper, a new payment schedule is drawn up and the interest rate is calculated.

Insurance

Decor insurance- this is the creation of an economic shield, which at a difficult moment can support and prevent it from falling into.

An insurance contract is a legal document that implies a one-time financial contribution, which in the event of force majeure circumstances, such as loss of legal capacity or loss of employment, makes it possible to avoid liability for loan obligations.

Example: Vasily Petrovich managed to take out insurance when he worked as deputy director of Vneshstroy LLC; he insured himself in case he lost the ability to pay a loan for a new car. And so it happens that Vasily Petrovich comes under the blow of layoffs. He is replaced by another, more active employee.

In any other case, you would have to either return the car, losing all past deposits, or pay, finding the most incredible ways to do this. But, turning to your insurance company where the agreement was signed, the unemployed Vasily Petrovich can achieve either a certain financial compensation or debt reduction, depending on the conditions specified in the agreement.

How to get out of a debt hole

If your financial situation has led to a dead end, and you are half a step away from the debt trap, you should promptly find workaround options.

We must remember that you can find a way out of almost any situation, the main thing is not to sit idly by. Yes, when financial bankruptcy, if there is a need to pay off a loan, you just have to wait for the trial, but again, not forgetting not only about your responsibilities as a citizen of the Russian Federation, but also about your rights. And, if you conscientiously follow the basic rules, then the trial may not become a disaster, but, on the contrary, a lifeline that allows you to stay afloat until better times come.

Yes, the standard judicial tactic is to appoint instructions for mandatory payments and, in case of serious delay - determining the amount of penalties and fines. But, if you provide documents confirming complete insolvency, then you can achieve a deferment and the right to pay in small amounts over a long period of time (from six months to two years).

Example: Gennady Sidorovich took goods for sale and, without calculating his economic opportunities, became completely bankrupt. There is no way to pay off the debt, there is only one way out, to wait for a court decision.

By going to court in good faith and presenting confirmation of your insolvency, Gennady Petrovich achieved installments. By paying monthly small amounts payments that were within his power (1500-2000 rubles per month), he received time to resolve his financial issues. The payment period was set at 2.5 years, a considerable period.

It is worth remembering that violating a court order can lead to serious problems. Failure to appear in the courtroom, just like refusal to make monthly payments, will first lead to a fine, and then to the seizure of all income, property, and then housing. Also plays an important role Art. 159. 1 of the Criminal Code, regulating fraud issues: if the defaulter concealed some information regarding his financial capabilities, then this could result in a real prison sentence. Therefore, it is better not to joke with the court and be extremely careful and attentive.

Malicious evasion of debt (loan) payment is punishable by Art. 177 of the Criminal Code and may promise either enormous fines (up to 1,500 million rubles), or prison term.

Can't pay the mortgage

Unfortunately, today it is not possible to earn money for your own housing, much less receive a departmental one for work experience, as before. The only way to acquire your own living space is to take out a mortgage. This is a good way out when you have a stable income and a permanent job.

But this question, given the current precarious economic situation in the country, is questionable. What to do if the mortgage is not paid in full, and finances sing romances?

Here you can seek help from the following methods.

Compromise

You should not hide from the bank, but meet them halfway, telling them bluntly about your problem. In this case, you can come to a compromise solution that is beneficial for both parties. It is quite possible that the banking institution will allow avoid fines and penalties, and will also provide a deferred payment, which is already a real help. The main condition of this agreement is a valid reason for the client’s insolvency, a true reason.

Recrediting

Some credit obligors act as follows: choose a bank with better conditions loan interest rate and carry out the re-crediting procedure. But this method is effective only if you are sure that you will be solvent in the near future: refinancing will allow you to reduce interest rate debt payments, but will not protect against payment obligations.

Please note: Some banks charge a fee for the refinancing procedure, so before deciding to take this step, you need to study the conditions of the chosen banking institution.

Catch the bank for its mistakes

Often banks try to play on their clients’ lack of knowledge about their civil rights. So, some transfer the debts of payers, others increase the interest rate without warning or changes to the contract.

For many responsible payers, such turns of events are tantamount to disaster, but in vain. After all, this is not the payer, but the bank violates the legislation of the Russian Federation, and therefore must be held accountable to the fullest extent of the law. Therefore, advice: Always read all contracts and other legal documents carefully, paying attention to all the pitfalls, dubious points, rights and obligations of the parties.

Example: Commercial Bank transferred the debts of citizen Ivanov to collectors, who are now... What can Ivanov do? He has every right to go to court for violating the law “On the Protection of Personal Data” and, thus, citizen Ivanov not only creates protection for himself from debt collectors, but also gets the opportunity to reduce the debt, in proportion to the requirements for payment of moral compensation for the inconvenience caused.

Refinancing

Another solution credit issue can be refinancing. This operation allows you to reduce the interest rate and choose a more convenient loan repayment program. In addition, it is possible to combine several loans into one.

And now to this method became more clear, let's give an example.

Ivan Petrovich owes on an old loan. But then he finds out that the conditions in another bank are more favorable. What is he doing? Ivan Petrovich takes his passport and goes to more profitable bank, re-issuing your loan to him. The bank, in turn, repays the loan in the old banking institution and sets the interest rate.

With the right approach, this procedure can save you thousands. The main condition for refinancing is a thorough study of all the pitfalls of banking programs, the nuances of applying for a loan, as well as the possibility of renewing your loan. Now you know the ways to get out of the impasse regarding debt obligations.

How “grated rolls” are made

In the heat of the moment and in a panic, it’s not surprising to “break the woods.” What should beginners know who find themselves for the first time in a situation where there is simply nothing to pay off a loan with? In the video below, an experienced video blogger shares his experience.

I can't pay my loans. What to do? Banks do not make concessions!!! What to do if you are unemployed and need to pay off a loan?

Citizens have most often turned to our lawyers with such questions since 2016. Today we will give you some practical tips that will help you get out of difficult times. financial situation and finally decide for yourself whether to pay off the loan or look for another way out. If you need to analyze your particular case in more detail, our online duty lawyer is always ready to answer all your questions.

Legal ways not to pay a loan:

Undesirable ways not to pay a loan:

Consequences:

When problems arise with money, and you have a loan behind you that is not easy to repay and on which interest is always accruing, the most important thing is not to panic and, if possible, develop a strategy on how to get out of a difficult life situation and determine what amount you actually need you can pay monthly. There are no unsolvable problems. If there is absolutely no way to repay the loan, then even in this case you can find a way out, for example, through the court to achieve bankruptcy recognition or agree on debt restructuring, which can significantly reduce the burden on your own budget.

According to Russian legislation, deliberate evasion of repayment accounts payable leads to criminal punishment (Article 177 of the Criminal Code of the Russian Federation). That is, a simple desire not to pay the bank is not enough to refuse to repay the loan. There must be a legal basis for this; simply put, if the creditor has no funds at all, there are no valuables that could be sold and thereby raise money for the bank. In this case, it is indeed possible to either completely cancel the loan, or achieve a review of relations with the bank, and conclude an agreement that is more convenient for the lender in specific circumstances.

Legal ways to avoid paying a loan

There are several legal ways not to pay a loan, which the vast majority of lawyers and financial advisors advise to use. Let's talk about them.

We carry out the bankruptcy procedure

Since 2015, in Russia, all individuals have the opportunity to prove their insolvency through bankruptcy proceedings through an arbitration court. Although judicial practice on this issue is only just being developed, many people have already applied for such help and proved their inability to repay the loan or loans. For a person to be declared bankrupt, it is important that the total amount of his debt exceeds half a million rubles.

If the court's decision is positive, all the citizen's property is subject to sale. All proceeds go to pay compensation to creditors who filed monetary claims against the borrower. At the end of the procedure, all debts, regardless of their amount, are canceled, thus, a person declared bankrupt is released from the obligation to pay loans, including those that were not examined in court.

What restrictions does the bankrupt receive in return:

• within five years, a citizen will not be able to take out a loan from any financial institution, since he will be obliged to warn creditors about the procedure;
• re-cancellation of debts becomes impossible within five years;
• a bankrupt citizen is prohibited from engaging in management activities in organizations and companies registered as a legal entity for three years.

We are seeking debt restructuring

During review arbitration court bankruptcy case, the court may decide to activate the debt restructuring procedure. In this case, the borrower is assigned a financial manager, who will have the opportunity to challenge all transactions of an individual for three years without charging fines and penalties for delays, and negotiate with creditors.

Restructuring can also be achieved out of court. To do this, the borrower must make a written request to the bank to defer loan payments or carry out debt restructuring. The reason for such an appeal may be any financial difficulties that have arisen, for example, if a person has lost his job and does not have additional sources income. The reason for the revision must be documented. The bank may agree to review the agreement. During restructuring, the loan term increases and, accordingly, the monthly payment amount decreases (naturally, the total amount of interest on the loan increases and, in general, hits the wallet even more, but the procedure allows you to avoid the accrual of fines and penalties). When a payment is deferred, the borrower does not pay the body of the loan, but only repays the accrued interest. Both of these options are suitable only if the borrower has short-term financial difficulties, and he is confident that he will soon have the funds necessary to make all payments.

If you do not know how to write a letter to the bank about the inability to pay a loan, debt restructuring and deferred payment, then we suggest that you familiarize yourself with samples of these documents:

We repay the loan through an insurance company

This option will be valid if, when compiling loan agreement the borrower took out insurance in case of financial difficulties associated with loss of ability to work or work. If this is the case, a person has the right to contact the company with a demand to repay his debt in accordance with the terms of the insurance.

Not everyone insurance organizations immediately agree to comply with the requirements. However, you should not give up: you need to go to court, where, if all the evidence is available, they will most likely make a decision in favor of the borrower.

For security reasons, you must first agree with the bank on a deferred payment so that the loan penalty does not accumulate. However, you can also demand payment of a penalty that arose during the trial from the insurance company.

We challenge the provisions of the loan agreement

In some cases, citizens manage to get rid of overwhelming debts by challenging the legality of the loan agreement. A person needs to file a claim in court at the place of registration of the lender, motivating his appeal by the fact that when drawing up the agreement, the rights of the borrower were seriously violated, namely, that the agreement was concluded on conditions that were extremely unfavorable for him.

This method is quite difficult to implement. You should start litigation only after consultation with a professional lawyer and with confidence that the truth is on your side and is supported by numerous facts. If the court case ends not in favor of the borrower, this threatens him with even greater financial difficulties.

What you shouldn’t do if you can’t repay the loan

Sometimes people are given extremely “bad advice” on how to avoid paying their loan. They are fraught with big problems and lead, for example, to criminal punishment or to the fact that debt hole It's getting deeper.

Loan refinancing

In principle, a person can pay off a debt by taking out a loan from another financial institution on more favorable terms. Sometimes, indeed, this option is quite viable, but as practice and numerous testimonies from people show, refinancing only confuses a person and does not help him cope with problems at all. You can do this only after calculating everything and comparing the possible risks and benefits, because, in fact, such a procedure practically does not change anything: only the other side changes. In addition, not every bank is ready to provide funds to a person with outstanding loan in another banking institution, and if ready, this may indicate a bad reputation of the institution.

Disappearance of the borrower

According to the laws in force in Russia, three years after the borrower has completed the last transaction through the bank, the organization will no longer be able to demand that he repay the loan even through the court, since by this time the statute of limitations will expire.

Many people use this. Just at one moment they leave home, leave their family and work. Of course, in this case the person can no longer count on receiving official work, he becomes, one might say, an outcast who has abandoned everything native. Most importantly, bank employees or collection agencies begin to demand debts from family members of the borrower, sometimes this goes very far, so this path should not be chosen by a person who more or less values ​​the well-being of loved ones.

Other illegal ways to solve the problem

To avoid any monetary loss due to court decisions and claims bailiffs, borrowers may take illegal actions. Of course, in some cases they can get away with it, but the Law provides for criminal penalties for such violations. Criminal acts include:

• sale of property that is pledged (the action not only falls under the article, but is generally meaningless, since the transaction is declared invalid in any case);
• deliberate withdrawal of assets (refers to deliberate avoidance of debt repayment);
• transferring property to relatives, friends, acquaintances (can also be linked to deliberate evasion).

Any bank always provides for the presence of a certain number of borrowers who can be classified as difficult; each such institution has developed its own scheme for working with defaulters.

It all starts with the borrower being fined. The amount charged for each day of delay is usually specified in the contract. This may be a fixed amount or a certain percentage of the funds issued for the loan. Some institutions charge simply enormous fines.

At the next stage, the organization tries to influence the borrower to repay the debt. For this purpose, banks have special groups of authorized employees. Banks tend to act less harshly than collection agencies. Collectors are representatives of organizations that have purchased the rights to collect money from a borrower for a specific loan. What collectors do is probably known to everyone. They call phones, home, mobile, work, come to work, make visits to the borrower’s home, relatives, and friends. All this, of course, makes life very difficult.

The final stage of this entire process is trial. If the loan was taken out as collateral, the bank may require the sale of this property in order to fully repay the debt. The remainder is paid to the borrower himself. If the loan was taken without collateral property, the bank has the right to demand, and the court to satisfy this right, to confiscate any property of the borrower for the purpose of selling and repaying the loan.

Threatening calls, home visits - all these are attempts to put pressure on the client that do not have legal force. Therefore, the most important thing, if the matter has reached such a situation, is to seek consideration of all circumstances in court. It should be noted that financial structures and collection agencies are very reluctant to agree to court proceedings, therefore, as a rule, they can scare their clients that they will bear all the legal costs on them, and the outcome of the trial will be a criminal case. In fact, in most cases this is not the case. Firstly, each bank has a lawyer on staff, and there will be no legal costs associated with his work. Secondly, criminal punishment is provided only for malicious evaders; if the borrower really finds himself in a difficult situation and does not intentionally fail to pay the loan, he will not face criminal charges.

Articles about fraud and causing damage by deception will not work either, since the borrower did not falsify any documents, did not plan to take the money and then hide, which will be proven, for example, by at least partial repayment of the debt and any payments made on the loan. Of course, after the trial they may be prohibited from traveling abroad, but this is quite understandable and, in theory, should not worry a person who wants to deal with all his debts in an honest way.

So, if threatening calls begin, the borrower has the right not to answer any questions. The right to silence is enshrined in the Russian Constitution (Article 51). The same applies to personal meetings. The borrower has the right not to open the door to collectors and bank employees. If they do come and persistently knock on the door, you can and even need to call the police. You can also openly record all conversations with them on a video camera (the recording may be useful later in court).

What should you do if the debt is “knocked out” by debt collectors?

When a person encounters collection agencies, he has several options for action. Moreover, both can be effective and significantly help in resolving the credit issue:

• Review contract documents carefully, and if they did not stipulate the condition that the bank has the right to assign debts on loans to collectors, feel free to go to court. This means that the bank carried out such an operation illegally, which means the borrower can legally not pay them money.
• Contact anti-collection companies. These organizations are well versed in the intricacies of the relationship between the borrower, bank and collectors. Professional lawyers will help you better understand the terms of the contract, as well as identify violations in the work of debt collectors, which may become a reason for contacting the prosecutor’s office.

conclusions

​The only one in a legal way Avoiding payment on a loan is a procedure for declaring a person bankrupt. There are other legal methods that allow the borrower to defer payments, change payment amounts, etc. In any case, when serious financial difficulties arise, it is best to sort things out with the bank through the court. This will help to close all the ambiguities of the issue, to determine more or less equal conditions and opportunities for the lender and the insolvent borrower.

For example, the court will never force the lender to pay penalties and fines that exceed the amount of the loan. First of all, the citizen’s personal property will be considered as a possible payment, while the apartment, if it is the only one the person has, will not be able to be taken away. If a person really has nothing to pay, closure becomes possible enforcement proceedings and debt write-off: a certain number of such decisions are always provided for by each bank and is, in principle, an ordinary and uncritical, calculated practice for them.

For all questions related to the impossibility of repaying a loan to a bank, you can contact our duty lawyer online.

Every person may encounter a difficult situation in their life when they have accumulated loans but have nothing to pay. The reasons that can cause this problem are always different, but a loan is an obligation that must be fulfilled.

What to do if there is absolutely no way to continue service? credit program? First, small delays in required payments appear, and the bank begins to charge the borrower various payments and, possibly, demand early repayment loan Typically, the actions of employees of a financial organization are quite reasonable and fall within the framework of the agreement concluded with the client. However, this is not entirely and not always the case. So what to do if you have nothing to pay the loan? How to figure out: which actions of bankers are legal and which are not?

What you have to pay anyway

This usually happens in the case of loan programs issued quite a long time ago. For a long time, the borrower regularly made payments and fulfilled his obligations, but at some point he stopped paying. As a result, the hour comes when the bank notifies the client that the amount of his debt has grown several times the amount borrowed and must be repaid immediately. In case of refusal, the banking structure threatens to go to court and be held liable for fraudulent activities. Many people simply give up at such a moment, although they have every chance to defend their freedom and rights.

So what to do if you have nothing to pay the loan? First of all, you need to properly understand what the debt presented by the bank consists of. This can be done by simply contacting the financial institution using a written application. The bank is obliged to provide all required information to as soon as possible. Typically, the debt consists of the following parts:

• Body of the loan. It will have to be returned no matter the outcome.
• Interest. Usually specified in the contract and paid in any case.
• Penalty. It is this that you need to pay attention to, because it usually makes up the overwhelming majority of the total amount.

In this case, it is necessary to file an application with the court, which lasts 1 year. This means that if you take out a loan and have nothing to pay, then the maximum possible penalty can only be charged on payments made during the year.

Procedure in case of overdue loan

What to do if you have nothing to pay the loan? First of all, you need to understand that the last thing you should do is hide from the bank collection service. Typically, organizations are happy to accommodate the borrower and provide loan refinancing services. It should be remembered that the financial structure primarily seeks to make a profit. It is not profitable for her to go to court, hire a collection service and look for the defaulter. All these actions require additional costs, and the bank just wants to get its money back, and not spend new ones. That is why you should not be afraid of actions on the part of a financial organization when possible problems servicing the loan program. If unforeseen situations arise and there is a threat of violation of the payment regime, you should immediately contact the bank and shift the issue of restructuring, refinancing or refinancing of the current loan onto its shoulders. To do this, you need to submit an application in the appropriate form and provide all available guarantees of debt repayment. There is no need to think about what to do if you have nothing to pay off your loan. You need to act decisively and cooperate with the bank.