How to pay a loan if there is no money

Life is unpredictable thing. Today you can "be on horseback" and without any doubts to buy new furniture on credit, update household appliances, rest at foreign resorts, and tomorrow break your head over how to pay all these loans.

If you have fallen into a difficult financial situation and do not have the opportunity to pay the next monthly loan payment on time, it is necessary to immediately contact the representative of the lender (the credit manager of the banking institution in which you issued a loan) to set out the essence of the problem. Whatever enough, but the first who can help an insolvent client is his lender.

Dismissal from the main place of work, temporary disability, long-term illness, the birth of a child is usually quite good reasons for the lender. Debt with you, of course, do not write, but can go to the meeting and offer the design of the "credit holidays". This means that within a few months you will have the opportunity to pay only part of the monthly payment, namely, interest on the loan. All changes in the main loan agreement are necessarily recorded in the Advanced Agreement.

As an option, the lender can offer registration of the prolongation of the current loan to avoid accrual of penalties and other penalties. The conditions for this restructuring variant are somewhat different from the conditions of the above-mentioned "credit" vacations and are as follows: by issuing an additional agreement, the Bank increases the return period of credit funds, as a result of which your monthly payment is significantly reduced. Consider that in this case the overall overpayment of the loan increases.

Another "rescue circle" from the lender - the refinancing of the loan. The bank, analyzing your life circumstances, can go to meet and issue a new loan agreement at exactly the amount of the total balance of the current loan, while the conditions of the new lending will be significantly softer and loyal than the previous ones. As a rule, the size of the monthly payment is reduced, the annual interest rate and the loan return period changes.

If, when signing a loan agreement, you simultaneously concluded an insurance contract, it makes sense to appeal to insurers. Most often, the insurance company pays bank duty in the event of a loss of work on the initiative of the employer. As a rule, dismissal on its own initiative does not apply to insured events, so in such a situation you should not count on any compensation.

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If the Bank refuses to meet you, prepare for the court. Do not fear court proceedings - because you want to pay off debt, but due to unforeseen financial difficulties need to change lending conditions. To help you - the workbook, in which the date of dismissal is recorded, and other evidence, which, in your opinion, can be useful during litigation. And yet - be sure to take a written refusal in the restructuring of your debt.

The main thing is not to panic, act on time and do not let the situation on samonek. Remember, the bank is no less interested in the return of the loan provided. And also to creditors, as a rule, neither long-term legal proceedings, nor payment of collector agencies.