According to statistics, about 70% of all Russian credit borrowers at least once, but faced with a situation where it becomes almost unrealistic to deposit monthly amounts set by a bank agreement. Moreover, the need to suspend payments arises in any bank. This includes clients of the largest credit and financial institution of the Russian Federation – Bank. This raises the question: how to get a loan deferment in Bank? This article examines situations and options for individuals only. Solving questions about the restructuring of a loan issued to a legal entity or an individual entrepreneur is a separate topic.
It should be warned that obtaining such a relief can be a very laborious process. The financial institution, on the one hand, is interested in the client retaining its solvency and fully paying the amount due, including interest. This goes to the plus of the decision, which is to confirm the postponement or change of the loan terms. But on the other hand, the bank is also interested in the borrower repaying the loan loan as quickly as possible. And preferably in the amount that was established in the conditions of the loan agreement. Therefore, it is still quite difficult to delay the loan at Bank. It will take a good reason and its documentary evidence.
Good reasons for the delay in terms of banks
Until recently, Bank supported a very convenient option for its customers. Without much paperwork and tedious proof of the need to suspend payments, almost any borrower could quickly issue a month deferment. That is, without any penalties, changes in credit terms and the accrual of additional interest, the client simply missed the monthly payment once. Such a short respite could help solve some minor financial difficulties and return to regular payments. However, this was before the crisis. Today, Bank has canceled this service. Therefore, in any case will have to go through thorns to achieve a delay. What reasons from the point of view of the bank are considered valid for the institution to suspend credit obligations or to restructure the loan? There are several:
- loss of the main source of income, and in 90% of all credit situations it is wage labor for wages. Moreover, voluntary dismissal or dismissal for unfair work is not considered to be a valid reason. Only staff reductions, company closures or forced job changes, for example due to relocation;
- temporary or permanent disability of the borrower (as a rule, the period of illness or disability and permanent medical care);
- the need to pay for the treatment of a loved one;
- the death of a family member (especially important if the deceased family member contributed a share to the general family budget);
- childbirth and child support (up to the age of three);
- the appearance of a dependent (for example, taking custody of a minor);
- moving to another locality;
- various force majeure circumstances that were independent of the client and caused damage (cars crashed in an accident, housing suffered from a fire, attackers cleaned the apartment, etc.).
Confirmation of a difficult financial situation with documents
Apart from a couple of points, the rest, of course, will not bring joy. A person, even purely psychologically, may not be able to repay any loans there. But the main thing – all of these points entail an increase in financial expenses. Sometimes such that in size overlap monthly credit payments. In order to have real chances to defer payment or to restructure the loan, you will have to take care of documentary confirmation of the reason that has arisen. Judging by the reasons listed, the following documents may be needed:
- a record from the employer in the workbook of a forced reduction, a tax certificate in the form 2-NDFL, which may reflect negative changes in the income of the client;
- birth certificate of the child;
- a certificate that a woman is on maternity leave due to the birth of a child;
- death certificate of a loved one;
- certificate of guardianship;
- certificate from the doctor about the disease / certificate of disability – the borrower or his relative (it is desirable that all necessary medications are indicated, because if the drugs are expensive – this will also go to the client’s plus);
- papers proving the change of permanent residence (for example, a change of residence permit in the passport);
- documents proving unexpected material losses (for example, the accident report, the conclusion of damage assessment for the destruction of housing, etc.).
Credit Relief Options
Bank may give a deferment of payment on a loan if it considers that circumstances really do not allow us to continue extinguishing credit debt. The problem is that Russia has not developed a clear scheme for suspending credit penalties, their change in favor of the client. How to take a deferment in an environment where banks have tightened their policies due to the crisis? This is problem. But in any case, the borrower will need to visit the bank, where it is necessary to fill out an application form with the corresponding request. Of course, you need a passport. And the document confirming the specified reason of financial difficulties of the borrower. It is recommended to do this immediately after making the last payment, that is, until the next installment remains for about a month. Since the application of the client, the banking organization will consider two weeks or even a little longer. Each bank has its own policy. This is especially true of private establishments. But in Bank to defer payment, if the circumstances are truly objective, it is quite possible. What options can offer employees of the institution? In general, there are five such options:
- A certain period, the borrower will pay only interest, and the body of the loan will not decrease. The main disadvantage of this method of deferred payment is that the loan itself will remain unchanged in amount. So, when the agreed grace period ends, you will have to start extinguishing the loan body, taking into account all the same interest. That is, there is a large percentage overpayment.
- A certain period, the borrower will pay only contributions to repay only the body of the loan, without a percentage premium. The option is quite convenient, since the principal amount of the loan is the main source from which annual interest is charged. But after leveling the loan body, there may be problems with the calculation of the interest that the client must pay. Some banks even used this method of deferment as a means of additional profit from customers, charging interest on interest. It is necessary in advance, together with the bank’s specialists, to accurately calculate how much will be left to pay at annual interest.
- The best and most desirable option for a borrower is to write off credit debt in general. However, officially and voluntarily, the bank rarely goes to such a thing for obvious reasons. For a financial institution, these will be 100% net costs. In rare cases, when the loan amount is small by banking standards (close to microloan), the institution may, as they say, “give up”. In a different way, credit debt is canceled only through a court decision. Or, after the expiration of the statute of limitations (3 years), but with it, too, a lot of problems arise, which are not worth delving into now.
- Although the “vacation for a month” program that was already mentioned was canceled, but on an individual basis, Bank occasionally gives customers a breather when you don’t need to pay anything at all. Terms of such “holidays” vary from one to several months.
- The latter method is the most diverse. In principle, this is debt restructuring. Bank loan may be revised in all respects. What changes in the conditions of lending specialists are able to offer the borrower in order to relieve him of the financial burden? First, the interest rate reduction, which will reduce the size of monthly payments. Secondly, the change in the frequency of contributions. For example, not every month, but every six months. Sometimes it is more convenient for customers to deposit larger amounts, but less often in time. Thirdly, a partial cancellation of the amount of the debt, i.e., a decrease in the loan body. Usually, banks carry out such actions at the expense of refinancing. Fourthly, an increase in the loan period, i.e. a stretching of the loan over time, which also reduces the amount of monthly payments. But there are limits. Consumer credit can not be stretched for longer than 7 years, and mortgage – for 35 years. Finally, fifthly, the bank can leave the loan terms the same, but no penalty interest will accrue for any delay. Debt under such conditions will accumulate only purely from monthly installments.
The main thing is that when it comes to deferring payment on a loan at Bank, all applications are considered on an individual basis. There is no single program that addresses the problem of borrowers who are in or near an insolvent state. It is important to provide only authentic information. Otherwise, the bank, finding a discrepancy, can not only not meet halfway, but also file a lawsuit with a statement of fraud. This article discusses all the main points regarding the revision of the loan for those customers who find themselves in a difficult financial situation. At least within the framework of one financial organization – Bank. Although the general scheme is the same in all banks.