How to deal with bank loans in 2017

You will need
  • Ability to persuade and conduct tough negotiations.
Options for the development of events may be different, depending on the situation you can pay on the loan, you can not pay on the loan or you do not want to pay on the loan.
If you have the opportunity to fulfill your obligations to the bank, then it should be done in a timely manner and in full. That is, in accordance with the loan agreement, you deposit a certain amount in any available way: at the bank office, through the payment terminal, by transferring funds from your account. By the end of the loan agreement, you will have to not only repay the loan amount, but also the interest on it. When this happens, you should receive a written assurance from the bank that the loan has been fully repaid and you have no complaints. Only after that you can consider the �friendship� with the bank finished and breathe freely.
If you can not pay the loan, it will be better if you first inform the bank that for one reason or another you can not fulfill their obligations. The reason must be valid: loss of work, disability, etc.
To continue the negotiations, you should come to the bank office and talk with a loan officer. The main thing in this situation is to convince your interlocutor that you are a good borrower and are ready to continue paying the loan, but in a different amount and in a different time interval. In this case, it is best to have with you any documents confirming your difficult situation. This may be a work record with a record of dismissal, a certificate from the clinic about your illness or something like that.
If you manage to convince the bank of your desire to fulfill your obligations, you may be offered several options. This may be a moratorium on payments (usually up to 3 months until you find a job or improve your health), or a decrease in the amount of payments with an increase in the contract validity period, or something else. These actions on the part of the bank are called restructuring, and all your agreements must be secured in writing.
Remember, restructuring does not relieve you from the obligation to pay the loan.
If you refuse to pay the loan and do not pay attention to calls from the bank, be prepared for tough consequences. First, you will repeatedly receive a notice of debt and a list of measures from the bank. The most serious of them is the bank's appeal to the court, where, as a rule, the issue is decided in favor of the bank, and your property, movable and immovable, can be levied to cover debt and interest on it. You can lose an apartment, a car, household appliances and even pets.
However, all banks act through the courts. Modern practice involves contacting a bank with a collection agency, where specially trained debt recovery specialists work. Despite the fact that legislatively the activity of collection agencies is not regulated, the actions of the staff of these agencies are often outside the framework of the law. This can be round-the-clock dialing on your phones with threats of the use of force and other troubles, they can reach your relatives by calling them to a nervous breakdown, etc. The main measure of the impact of collectors is psychological pressure on the debtor.As a rule, they manage to achieve their goals, especially if the person is not legally savvy in this matter.
There are two ways out of this situation: an appeal to an anti-collection agency, where they will try to help you, of course, at your expense, or an appeal to the court for illegal actions of a collection agency. In any case, the decision to pay the loan will be long and painful, so you should not make the situation with the loan critical.

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