In conditions of economic instability in the country, there are often problems with the performance of credit obligations. Particularly relevant is the issue of deferment and debt restructuring for families paying mortgage debt. The terms of such contracts are impressive, while the life circumstances of the family change from year to year and for the most part are unpredictable.
Not only ordinary citizens can be in a difficult financial situation. Deferred payment of commercial loans today is also in demand. Features of this procedure will be discussed in this article.
How to solve problems with credit debts?
Lending to individuals and legal entities involves the provision by credit organizations of monetary sums for the use of citizens or enterprises with the subsequent return of the amount of the principal debt and the interest stipulated by the agreement.
Typically, the main loan conditions are reflected in the contract. In addition to the loan repayment schedule, the document signed by both parties contains information:
- on liability for default on credit obligations in the manner prescribed by the contract;
- on dispute resolution methods, if any, between the parties to the agreement;
- about the possibility of obtaining a deferred payment on a loan.
If the last provision is not in the document, the borrower has the right to independently apply to the financial organization with a statement on the provision of this service.
In accordance with civil law (Art. 450), at the request of one of the parties to the transaction, the terms of the contract can be changed on the basis of a written agreement of the lender and the borrower. This rule is common to all types of bilateral and multilateral transactions. The decision to change the payment schedule is made by the collegial body of the credit organization.
Ways to get a deferment
At the discretion of the bank, the borrower is provided with one of several available options. Next, we consider them in more detail.
Deferred payment of principal
At the same time, the borrower pays only the interest on the loan within the time period set by the lender. Since the size of the main debt does not change, this method can hardly be called acceptable, because the percentage is calculated based on the size of the “body”. Such deferred payment of a loan is the most profitable option for a bank than for a borrower. When offering a service, the debtor should consider this option last.
Deferral of interest
At the same time, for a certain period of time, the debtor is exempted from paying interest, but continues to pay off the amount of the principal debt. In general, the option is not bad for the borrower, but extremely inconvenient for the credit organization itself, therefore, such a delay is not often provided.
Deferral for body and interest
With this type of deferral, the borrower is given the right to suspend payments under the contract for a period set by the bank. Typically, the loan exemption period does not exceed three months. Thus, the citizen has the opportunity to improve his financial situation and postpone the deadline for final settlement with the bank.
Alternative payment methods with the bank
The client has the right to independently propose to the credit institution the procedure for transferring payments on terms that are beneficial to both parties to the agreement.Banking is based on the extraction of a certain profit from cooperation with its customers, so the arguments of the borrower must be convincing. Among these methods of solving the problem, the following can be distinguished:
1. Debt restructuring. A similar method is a change in the essential conditions of the original contract, however, in critical circumstances, the bank (for example, if the borrower is in a position comparable to bankruptcy) can take such measures and revise some provisions of the contract, for example:
- loan final repayment period;
- loan currency;
- exemption from penalties;
- interest rate change.
2. Change in payment schedule. At the same time, during a certain period of time, the borrower does not pay the monthly loan debt amount, which entails an increase in the size of subsequent payments.
The vast majority of decisions of the collegial council of the bank satisfy the requirements of the borrower. True, as a result of the recount, the total amount increases, and citizens have to overpay. On the other hand, if the choice is between a bankruptcy procedure and the possibility of obtaining a short reprieve, the balance is in favor of the latter.
Reasons for deferral
Not all life circumstances claim to be the basis for receiving this service. The list of persons entitled to apply for a deferred payment of a loan to Sberbank, VTB 24 or another large financial institution includes the following categories of citizens:
- unemployed women awaiting the birth of a child, as well as mothers caring for minor children under one and a half years;
- temporarily unemployed citizens who are forced to lose their jobs;
- temporarily disabled people who are undergoing treatment or rehabilitation due to illness or injury;
- citizens who are assigned a disability group during the loan repayment period;
- Citizens who have lost income due to a change of residence (for example, when moving to another region of the country);
- citizens who have lost their breadwinner, as well as people who are forced to care for a sick relative;
- borrowers who find themselves in difficult life circumstances (for example, who have lost housing or property due to a fire, natural disaster or other emergency).
Whatever the circumstances may cause the borrower to apply for a deferred loan payment to VTB 24, Sberbank or another financial institution, the presence of one or more of the above reasons must be documented. Employees of a credit institution will not take a word, so first collect any documents that are appropriate to your situation.
Who can a bank refuse?
It is unlikely that a conscientious borrower who finds himself in difficult circumstances, a credit institution will refuse to grant a deferred payment on the loan. But certain categories of citizens may still be out of work.
There is a high probability of refusal to satisfy the application of the borrower if he:
- previously allowed delays in the repayment of the loan;
- owns a bad credit history;
In addition to unscrupulous borrowers, the following categories of citizens can be refused:
- persons whose contract term does not exceed three months from the date of signing the document;
- borrowers whose term of the contract expires in three or less months from the date of application for a deferment;
- Citizens who have lost income due to their own fault (for example, quit voluntarily);
- customers questioning the honesty of their intentions.
Credit Vacations
If the borrower has sufficient grounds for a deferral, do not hesitate. In the sphere of banking services, untimely appeal is fraught with bringing to responsibility, stipulated by the conditions of the concluded contract.The application of penalties will only aggravate the situation of the borrower.
Ultimately, the decision remains with the bank. Here are the most likely scenarios after a client has applied for a deferred loan payment:
- The request is satisfied, the service is provided in accordance with the terms of the contract concluded with the client. You can familiarize yourself with the procedure for its provision from the text of the document in the hands of the borrower. Be careful when reading. Perhaps the deferred payment of a loan at the bank is provided on a reimbursable basis. In most financial institutions, this service is paid.
- The possibility of granting a delay is decided individually, taking into account relevant circumstances. In this case, the text of the agreement does not contain conditions allowing to take advantage of the credit holidays, and the decision is made by the credit committee.
- Deferred payment of a loan with VTB or another bank under the standard debt restructuring scheme. Some credit organizations practice their own methods of solving problems related to loan repayment. The terms of the delay are not included in the text of the contract, but according to the client, the credit institution offers an acceptable way to change the terms of the contract. In this case, the borrower has the right to independently choose the most convenient option for him for new conditions for repaying the loan.
- Deferral in the form of a stock. Some banks practice the provision of credit holidays as a kind of promotion or advertising. As a rule, such shares are sold for a fee.
Documents for the application
In addition to the application of the standard form for deferred payment of a loan, the client provides the following set of documents:
- copy of the passport;
- certificate from the FIU on the amount of monthly pension accruals;
- income statement form 2-NDFL;
- certificate from the employment center on the registration of a citizen as unemployed;
- copy of the work book;
- certificate of assignment of a disability group;
- conclusion from the medical institution about the state of health of the borrower;
- copy of the birth certificate of children;
- other documents.
The above list is optional. The selection of the necessary documents is carried out depending on the basis for the granting of deferred payment of a loan for individuals in this organization.
Judicial adjournment
If the borrower did not consider it necessary to apply to the bank on time for the granting of a deferred payment on the loan, he risks becoming a defendant in the case of recovering the amount of the principal debt, interest, as well as penalties and fines stipulated by the contract. In such situations, it is better not to get lost, but to apply with a counter-application for a deferral or installment plan under a loan agreement.
If the grounds presented are convincing, the court will make a decision on granting a deferral for a certain period or installment payment plan, indicating the repayment period and the amount of the monthly payment.
It is not recommended to bring the situation to court resolution of the problem, since in such cases there is a high probability that during the first delay the collection of credit funds will be carried out by force through the executive authorities.
