In the conditions of economic instability, banking institutions are forced to endure huge losses primarily because of the infantilism and bad faith of borrowers. This is also facilitated by increased activity of credit fraudsters. To compensate for financial risks, most of the credit institutions set too high interest rates on loans, which are paid by bona fide borrowers.
At the same time, experts state that the number of people who borrowed money, but showed complete carelessness in the matter of their return on time, did not decrease at all.
Scope of the problem
One way or another, but the question: "I have a delay in the loan - what to do?" Becomes relevant even if there was a delay in making a payment for just one day.
However, many sources contain information that if the borrower is late for 2-3 days with payment, then there is nothing terrible in this. At first glance, you can agree with this. You will only receive an SMS message with a request to pay the amount of debt, and this incident will be exhausted. However, no one takes the bank's right to apply to the credit history bureau, and in case you intend to apply for a new loan, your "oversight" on the first debt will be visible to all creditors. In this case, you really have to seriously think about the question: "I have a delay in the loan. What to do?"
It is important to remember that the faster you repay your debts to the bank, the less severe the consequences for you.
For example, if you have not paid for a loan for six months, the bank institution is likely to soon cease to be loyal to you and will start using legal instruments through which the case can go to court. In this case, ask the question: "I have a delay in the loan - what should I do?" It will be too late. The case may be complicated by the fact that your property will be seized.
Consequences of late payment of a loan
So, are the problems facing overdue loans and what to do in this situation? Yes, the borrower's troubles may arise, and in most cases they are of a material nature.
He will not only have to pay interest on the loan, but also the penalties that will accrue to him for the untimely payment. In the part of banking institutions that specialize in consumer loans, penalties can be sky-high and exceed the size of the main debt.
Those who are particularly worried about the question: "I have a delay in the loan. What should I do? "Should understand that the fact of late payment makes a negative impact on credit history. What could this mean? Only that your chances of issuing a new loan on a relatively weekend basis will be close to zero. Well, you can not even dream of a mortgage lending program in this case.
Also, the borrower will bear all the legal costs and costs associated with the consideration of the claim for enforcement of the debt.
Often, banking institutions sell debts to collection agencies, whose employees use strong psychological pressure, and day and night, reminding borrowers of monetary obligations. In this case, of course, the question: "I have arrears of the loan. What to do? "Is of paramount importance.
Financial structures of delay are not profitable
Naturally, any banking institution is not interested in delay, even for the purpose of enrichment through the imposition of penalties.
The situation is that the Bank of Russia puts forward demands that each credit institution should have large financial reserves, if it is a loan with a delay. If the failure to fulfill the monetary obligation will bring a loss to the banking institution, its reserve must compensate. But if there is no material damage, then the reserve is simply an insurance sum, which practically does not bring profit. Undoubtedly, financial structures try to make the size of the reserve as small as possible.
Solutions to the problem
So, what to do if the loan is overdue? The general position and advice on this score can be reduced to one: try to make payments on time and not bring the matter to the extreme. Especially carefully think over the decision on loans for a large amount. Analyze whether you can repay such a debt if you are fired, your salary is cut or suddenly you become temporarily disabled.
Unfortunately, this often happens, you have to be ready for it.
If you have debt on the loan, what to do with this, you absolutely do not know, then the most reasonable thing is to refinance.
In other words, you draw up a new loan at a lower interest rate to pay off the principal. This way you can get out of financial bondage faster.
Of course, the question: "I have an overdue loan, do not pay for a loan - what to do?" For many is topical. As an alternative to solving this problem, you can advise you to apply to a banking institution with a request for restructuring, and try not to postpone this case for a long time. Thus, you can reduce the amount of payments, and in some cases get a reprieve. Once again, we emphasize that it is very important not to aggravate the situation, actively contact the bank's employees and not allow many months of delays.
Cancel the debt on time
Moreover, you should remember that as soon as you delay payment for at least one day, penalties will begin to accrue to you. Moreover, in addition to them, the bank for the failure to fulfill its obligations may impose a fine on the borrower.
As already mentioned above, if the delay is 2-3 days, the bank will remind you about it via SMS. If you ignore it, then at the next stage of solving the problem, the bank employee will call you. He will ask you to properly fulfill your credit obligations, threatening you with penalties in case you do not do what is required of you.
So, you have a delay in the loan, a loan delay in the bank. What to do in this situation, you do not have the slightest idea? If you did not make a payment on time due to illness or departure on a business trip, it would be optimal to notify the bank's employees about the exact date of making the next payment.
In the event that you were unable to timely repay the amount of debt due to deterioration in financial position, it is better not to postpone the visit to the banking institution and agree with the employees on the temporary postponement or restructuring. However, the financial structure will agree to make concessions to you if the reason for the delay in payment is significant: temporary incapacity for work, dismissal from work.
If the borrower shows a passivity in the relationship with the bank, the latter has the right to sell the debt to the collectors.
Appeal to the court
The final stage of solving the problem with unscrupulous borrowers is appealing to judicial instances. As a rule, lawsuits to collect debts last from several months to one year. If, from a legal point of view, the loan agreement is properly executed, the court will most likely take the side of the plaintiff, the defendant will sooner or later be obliged to repay the debt to the bank. However, such a turn of events can be beneficial for the borrower, since the judicial authority can write off the amount of penalties, forcing the defendant to compensate only the amount of principal debt.