In our modern life, there are both black and white stripes. We can't be sure that tomorrow will be fine as well. Today you have a high-paying job and a stable salary, there is no 100% guarantee that it will also last further. For convenience, you have taken out a loan that does not significantly affect your family budget, and if you have a stable job, its monthly payments are very modest.
Due to circumstances beyond your control, for example: bankruptcy, the organization's work at a loss, the closure of a branch of your employer's organization. You were cut from your job, or the company just closed. And this will lead to the fact that you cannot pay the loan. And not paying off the mandatory loan payments will lead to penalties or the bank's appeal to collectors or lawsuits.
There is an opinion among loan borrowers that credit debt restructuring is a complex, time-consuming and not realistic procedure. Because of this opinion, people do not use their opportunity to apply to the bank with the procedure of restructuring the loan debt. At the same time, many banks are ready to revise the payment schedule after applying and provide loan restructuring to the borrower. It is more profitable for the bank if the debtor has independently taken the initiative to inform about his incomplete financial ability and willingness to repay credit obligations than to take the case to court or turn to the services of collectors. The borrower's appeal to the bank with a proposal to restructure the debt to the bank gives the borrower a significant plus, showing his integrity to the bank.
The procedure itself initially begins after the borrower applies to the bank branch with a message that he has a financial problem. The debtor needs to contact the bank's branch, inform the credit inspector about his financial problem, fill out the necessary documents in the bank to apply for loan restructuring. In order for the bank to make a decision on the possibility of restructuring the debt, the bank will request additional documents in order to fully assess the solvency of the borrower.
List of the main documents for the borrower to submit an application for restructuring to the bank:
After the bank receives all of the above documents, decisions on the possibility of loan restructuring will already be made on their basis. In this process, the most important thing is to provide convincing facts that the decrease in your solvency occurred for reasons beyond your control. And that in the future you are ready to continue to repay your loan debt and fulfill obligations to the bank and do everything to improve your financial situation.
After approval, it is possible to get a credit vacation, payment of only the interest that is calculated per month, a change in the loan term period with a passion of months.
It is worth noting that if the bank has approved the loan to restructure, then it is worth taking this very seriously and paying it off on time, because in a bank a client with such a problem seems to be decent and responsible, but on the other hand he is problematic and such payments will be kept under special control.
There is an opinion among loan borrowers that credit debt restructuring is a complex, time-consuming and not realistic procedure. Because of this opinion, people do not use their opportunity to apply to the bank with the procedure of restructuring the loan debt. At the same time, many banks are ready to revise the payment schedule after applying and provide loan restructuring to the borrower. It is more profitable for the bank if the debtor has independently taken the initiative to inform about his incomplete financial ability and willingness to repay credit obligations than to take the case to court or turn to the services of collectors. The borrower's appeal to the bank with a proposal to restructure the debt to the bank gives the borrower a significant plus, showing his integrity to the bank.
The procedure itself initially begins after the borrower applies to the bank branch with a message that he has a financial problem. The debtor needs to contact the bank's branch, inform the credit inspector about his financial problem, fill out the necessary documents in the bank to apply for loan restructuring. In order for the bank to make a decision on the possibility of restructuring the debt, the bank will request additional documents in order to fully assess the solvency of the borrower.
List of the main documents for the borrower to submit an application for restructuring to the bank:
- A photocopy of the passport (if there is a family, also a copy of the passport of family members).
- Application of the borrower in the form of the bank.
- A copy of the loan agreement.
- The original or a copy of the work record.
- A certificate from work about the salary for the last six months before losing your job.
- In case of restructuring of mortgage lending, it is necessary to confirm that there is no other living space for the borrower.
- If the borrower is dismissed due to a reduction, then you will need a certificate, you also need a certificate from the employment exchange indicating the amount of the borrower's allowance.
After the bank receives all of the above documents, decisions on the possibility of loan restructuring will already be made on their basis. In this process, the most important thing is to provide convincing facts that the decrease in your solvency occurred for reasons beyond your control. And that in the future you are ready to continue to repay your loan debt and fulfill obligations to the bank and do everything to improve your financial situation.
After approval, it is possible to get a credit vacation, payment of only the interest that is calculated per month, a change in the loan term period with a passion of months.
It is worth noting that if the bank has approved the loan to restructure, then it is worth taking this very seriously and paying it off on time, because in a bank a client with such a problem seems to be decent and responsible, but on the other hand he is problematic and such payments will be kept under special control.