When drawing up a loan agreement, any responsible person expects that he will be able to fulfill his obligations in full on time. But the circumstances are different, because life sometimes presents surprises, and few people manage to stay on the payout schedule. Unforeseen expenses, sick leave, delay in wages, and, in the end, reduction can prevent timely payment of a monthly payment. And what is the result? Loan arrears, accumulating debts, calls of bank employees and spoiled nerves and credit history. You need to figure out what the consequences of a missed payment may be, how to solve the problem, and what steps borrowers may be wrong and prevent payment of debts.
Payment delay up to 5 days
Minimum consequences lead to a slight delay in the loan - from 3 to 5 days. As a rule, the bank reminds the borrower of the missed payment via SMS banking or calls. Very rarely, the borrower's contract manages to fall into the hands of the collection service or the collection office. More often, a penalty in the amount of 300-700 rubles, plus interest for delayed loan, has time to add to the amount of payment. A similar fine is imposed on the assumption that the next time the payer does not want to incur extra costs and increase the total amount of payments to the bank.
The situation is much more complicated when minor delays become a steady trend. This may negatively affect the credit history, not to mention the fact that in this particular bank there will certainly be problems with the next loan. The authorization service will be suspicious of such a borrower when applying, most likely it will ask a lot of unpleasant questions, or even completely refuse to grant a loan.
Another of the undesirable consequences of repeated short-term delays is the recovery of all debt ahead of schedule. Such a condition may be spelled out in a loan agreement. Of course, such a situation is rare, because in this case the bank loses its income from the loan. But this option cannot be completely excluded, therefore it is better to try to avoid even occasionally such a phenomenon as a delay in the loan.
What to do
Avoid small delays by making a monthly payment in advance. The best solution is not to postpone the payment until later, relying on a sufficient number of days until the repayment date. An additional motivation will be to read the clause of the loan agreement on arrears and sanctions against them. What if there is nothing to pay the loan? The first step is to notify the bank of the delay in payment. Do not avoid the calls of credit managers and debt management specialists. This negatively affects the attitude of the bank.
Payment delay up to a month
If the delay in payment for several days was the result, rather, of the payer's lack of discipline, then the month of delay in the loan is a consequence of serious circumstances that cannot depend on the borrower.
The fact of delay will not go unnoticed and will necessarily affect the credit history. The collection service will pay attention to the borrower, he should expect many calls with questions about the reasons for the delay and the maturity of the payment. The work of specialists is to insist on the nearest payment, so sometimes it will be necessary to conduct not the most pleasant conversations. Calls and letters may also come to relatives and contact persons.
What to do
If the borrower knows in advance about possible difficulties, he should notify the bank about the delay in payment. Sometimes this helps to avoid fines or credit entries. You may have to personally contact the office to write a statement in which the borrower must describe the nature of the problem.
If the payment has already been missed, then the first thing you can do is to pay it off as soon as possible so that the interest for delaying the loan does not have time to accumulate up to the size of a tidy sum. When receiving calls from lenders, it is better to name specific payment dates. Bank employees will necessarily record the received information from the client. Payment of the loan in accordance with the named date will affect the trust relationship between the borrower and the financial institution.
Delay of payment for three months
If the borrower could not repay the debt within a month, and another is added to his missed payment, returning to the schedule becomes a daunting task. If the delay in the loan is 2-3 months - this is a serious milestone, having stepped over it, it is worth making a decision on further actions in relation to the bank. It is necessary to correctly assess their capabilities in order to understand whether outside assistance is required to close debts.
A loan with open arrears for several months is an occasion for calls by the bank’s security service and collection agencies. You can prepare for calls in advance, the main thing for the borrower in this case is to be confident in their rights and obligations. It’s better not to avoid conversations, it’s much more useful to get in touch with the bank, be polite with employees, and give specific answers.
Most likely, moral pressure will be applied to the borrower, they will tell him about all the possible consequences, they will start to frighten them with courts, a list of property, and a prison. Another method of influencing the debtor is intimidation of relatives and friends. In such situations, it is important to remain calm, not to hide and not to dare in return - employees of the collection services only do their job.
What to do
Each bank has different solutions for such situations. In any case, you can count on the possibility of a peaceful settlement of the issue, without going to court. The first thing to do is to come to the nearest bank branch, describe the problem to the loan officer, and listen to his suggestions. Most likely, the borrower will be offered to pay off all debts at once and cancel the accumulated interest and fines. But what if there is nothing to pay a loan? Possible options:
- loan restructuring;
- deferment of payment;
- extension of the loan term or reduction of the interest rate.
Whatever decision the bank makes, without payment for a loan with open arrears, a peaceful settlement of the issue will affect the borrower's credit history in the least possible way.
Delay in payments for a year or more
Typically, payment delays occur with many borrowers, and most are on schedule within 4-5 months maximum. But what to do in a completely hopeless situation for a debtor who has accumulated a year of delay in loan?
In such cases, the bank usually sends a notification to the borrower about the application to the judicial authorities. From this moment, the bank's client should be very attentive, read the contents of the letters, answer them, keep correspondence, prepare receipts of payments made.
Credit. Delay. Court.
So, the borrower and the bank could not agree, and the latter is forced to resort to extreme measures. Often a financial institution sells a loan to third parties - this is provided for by an additional agreement to the contract. And they don’t particularly stand on ceremony with the borrowers, but at least nobody owes the bank anything.
If the bank employees refer the case of the borrower to the courts, the court will most likely make a decision in favor of the financial institution.Then the debtor will have to return the entire loan with accrued interest and penalties. A negligible amount is usually calculated from wages.
Often, when considering a loan overdue case, the court decides sale of collateral. If everything goes to that, one should not panic, let alone give the bank property before a verdict is issued. It is better to try to realize the mortgage property on your own - so you can sell it at a better price and pay off your debts.
Executive production
So, the amount of delay was quite significant, and deductions from wages are not enough to pay off the debt. The court signs a decision on the seizure of the debtor's property. What to expect Firstly, hiding from the bailiffs or not opening the door for them is a wrong decision, which can lead to criminal liability.
Secondly, bailiffs do not have the right to rob the borrower to the skin, there is a list of property that cannot be taken:
- house or apartment, if this is the only place to live;
- personal hygiene items and clothing;
- animals;
- awards and distinctions;
- Food.
That is, the bailiffs will practically not take away anything other than luxury goods and household appliances. Moreover, if it is possible to establish the fact of buying furniture or appliances by any of the other family members, then such things will also not be able to pick up.
In such a situation, the only thing left for the unfortunate borrower is to monitor the price adequacy of the debt and confiscated property, so that in case of unlawful actions by the bailiffs, they can challenge them in court.
How to get out of the situation
With a significant payment delay period, it is very difficult to try to settle small amounts with the bank yourself. Accrued interest, penalties and overdue interest at this point may reach half the amount of the debt itself. Payments will be sent primarily to cover penalties, while the main loan will remain outstanding, and there will remain a delay in the loan. What to do in this case?
There is only one way out - to wait for the trial. Experts advise to make small amounts not to pay off debt, but to a deposit with the possibility of replenishment, then by the time of the lawsuit on the balance sheet enough money can accumulate to close the main debt. Then the borrower should offer the bank to write off this amount and disperse peacefully.
As a rule, a financial institution may agree to such a decision, since there is a risk of losing in court and being left with nothing at all. After all, a competent borrower will not miss the chance to tell the judge that the bank deliberately set aside the lawsuit, accumulating fines and penalties to obtain greater benefits, while the debtor had the opportunity to return what he took.
How not to act
Any borrower in the event of an unforeseen situation that led to an overdue loan should not take the following measures:
- Get a loan or a loan to pay off the delay. This creates a vicious circle and drives the borrower into a debt hole, from which it will be even more difficult to get out.
- Avoid calls from bank employees.
- Dare employees, behave impolite.
The most important thing is to know your rights and carefully read the contract, then there is a chance to negotiate peacefully with the bank and avoid serious problems.
