How to be with a delinquent credit


Try to overborrow money. You can contact another bank or acquaintances. It’s much easier to negotiate a loan with a person than a bank. The faster you pay off the debt, the better, as the penalty is charged daily, and gradually the amount of it can exceed the amount of the loan.


If there is no opportunity to pay, contact the bank with a request for restructuring. This is a procedure to increase the loan term with a decrease in the amount of payment per month. Many banks are taking such a step, but increasing the term will affect the total amount of interest you overpay. In order for the bank to agree, write a statement, it will state the reasons why it is difficult for you to pay the loan agreement.


Some banks give a deferred payment. To do this, too, you need to come to the office where the credit was taken, and write a statement with explanations of the reason. After all, restructuring won’t bail out if there’s no work. Let payment and less, but its still without money impossible to extinguish. The deferral may be given for up to half a year, but in each case it is decided individually.


It is not recommended to hide from the bank and not pay at all, as after some time it will be forced to recover its funds. Today, the loan agreement specifies what way the bank can do it. The most common is going to court. The second most popular is turning to collection agencies and reselling the loan. The third is its own security service, which will be different ways of taking money.


If the delinquency on the loan is very large and exceeds the amount of the loan, it is possible to go to court yourself. The court can stop the charging of penalties, reduce their volume, put payment deadlines. If a lump sum will not be able to repay everything, then the papers will be transferred to bailiffs who will gradually charge the specified amount.

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