Before you decide on delay or failure to pay on the loan, it is worth examining the consequences of such actions and how to prevent them.
The problem: the loan is and money to pay — no.
The financial situation may be so that you will be unable to pay your credit obligation. It is logical that before the debtor raises the question: what will have to face, if you ignore the terms of the contract and not make another payment. Such situations occur quite often in connection with the worsening economic situation in the country, and on the forums you can find a lot of advice and feedback on this. Particularly tense situation is in the crisis period, when people EN masse get laid off, lose their jobs and face a marked drop in the level of income. The circumstances lead to the impossibility of timely repayment of debt. What to do in these conditions, and what to expect in the future?
the content of the article:
the Main consequences of non-payment of the loan
The answer to this question depends on several factors: the total amount of debt, the principal terms of the credit agreement, the presence/absence of left Bank collateral, guarantee. Responsibility can not be avoided, if simply to take and cease to pay the debt and interest thereon. In this situation, the Bank will necessarily be taken to refund his money. The list is not too wide, so it is likely to predict what to expect would-be borrower in case of disregard of the conditions agreed with the financial institution.
Consider the main measures taken by credit institutions when repayment of debt:
- Accrual of interest, penalties for late fees. The penalty starts to "grow" the next day after the final payment deadline and continues to change in size as long as the debt will be repaid. The calculation of this amount are paid automatically in any case. If the violation is structurally unstable, the penalties for it can not be charged, in this case you should pay attention to contractual terms with the banking organization.
- Sending letters to the debtor with the content requirements for urgent debt repayment. Also, the Bank invited the borrower to your office and offer to discuss the situation. Perhaps there are "peaceful" solution to the problem without the courts and lengthy trials.
- The implementation of the debt collectors in this situation as a creditor on a debt obligation becomes a specialized Agency. It is a very unpleasant situation, because the debtor will have to face not only with letters but also with the attempts of private conversations. The situation is aggravated by the lack of constraints for these organizations in adopting coercive measures. Of course, they are not authorized to get to your home, the power to take property, freeze, and freeze Bank accounts. But through their persistent demands collectors may considerably impair the life of their "wards".
- The judicial authorities to clarify the circumstances and recover the debt.
All the scenarios are quite plausible, but the latter is the most common, so you should elaborate on it.
What will happen for non-payment of the loan if the Bank went to court?
The failure by the borrower to the principle of repayment of the loan may result in Bank filing a certain claim.
- The statement of claim with the requirement to recover the amount of the main debt, interest and accrued penalties for late payment. The condition that determines the duration of the delay specified in the contractual terms of the loan agreement. Sometimes for court cases missing two-time minor violations of the terms. Sometimes at the request of the defendant, which is a natural person, the court may allow installment, but it will have to gather evidence of financial difficulties. Based on these data, the court may reduce the fines.
Failure of the debtor voluntary execution of a court decision writ of execution gets to the bailiffs. They are related to the special service of national importance, which has the power to recover the debt. The bailiffs have the ability to force the deduction of the debt from the debtor's wages, but this amount should not be more than 50%. They also have the right to withdraw cash, to deal with cheating Finance from Bank accounts, seizure of household items and other tangible assets.
- The statement of claim to the surety is the place to be in if the banking contract terms implied under the guarantee.
The statement of claim about collecting of the mortgaged property (in the case of collateral loan obligations payment of fee).
Is it possible criminal liability for nonpayment of the loan?
Of the criminal code provides for criminal liability for non-payment of funds on the loan. There is an article 177, which clearly describes the conditions and characteristics of punishment. In case of malicious evasion from repayment of debt amounts, the perpetrator may get a criminal case. But this is only possible in case of exceeding the amount of debt the amount of 1.5 million rubles.
And the most important question which excites many of the debtors: if to imprison in default of payment of the credit obligation? The answer is Yes, indeed, for this violation, the court may deprive the culprit of liberty for a term up to two years, and it may be a real or a suspended sentence. If in the course of judicial proceedings will be identified extenuating circumstances, most likely, the court will apply a more lenient punishment in the form of a fine (of up to 200 T. R.), forced labor, arrest (up to 6 months).
It is worth noting another important consequence credit nonpayment. All the data about relationships with any banks fall into the credit Bureau. Therefore, when adverse experiences should prepare for the deterioration in the credit history and the impossibility of taking new debt, caused by this reason.
When making the loan agreement, the lion's share of the borrowers confident of its solvency. But shows practical statistics, sometimes may be not the best way, which will lead to increased costs or reduced income of the borrower. Under these circumstances, the monthly payment is unrealistic. In such a situation, the accumulation of debt is a snowball effect because you will have to pay not only principal amount but also interest on penalties, penalties, penalties.
The Bank, noting the failure to pay the credit obligation, starts with a reminder on necessity of repayment of the debt.
As tools the organization may use different measures – from arguments and non-Intrusive requests to the threats. There is also the possibility of demands repayment of the entire amount of the debt, in an unstable financial situation becomes unreal. However, despite these threats and requests, banks can only scare words, because of special powers in real action they have.
In some institutions, debtors are warned that that they face blacklisting borrowers if non-payment of debt. Indeed, when delinquency has all the chances to spoil credit history. This means that subsequently when handling this or any other Bank for a loan you will most likely receive a rejection, as you deem unreliable partner.
The transfer of the debt collection Agency
If the banking organization understands that the debt is uncollectible, and the debtor continues to idle, there is a possibility of sale of the obligations to collectors. They work with their "clients" are not so soft as banks. The employees of such agencies are trained and they do not disdain the threats to the public using psychological pressure to force the debtor to repay the debt. Of the most common tools of the collectors can note the constant calls, sending messages, personal visits. The requirement is in the repayment, which begins to grow at a rapid pace.
You should know that collectors do not have the right to deface personal property of debtors, and especially to withdraw it. They also can't apply for you in court and deprived of parental rights. During a phone call the guilty person has to decide from which company you call, and then record the conversation on tape. Be sure to do it, especially in the case when employees bring threat to you and your loved ones. Then you need to contact the police to protect themselves.
In the circumstances to come out of it relatively unscathed, the borrower is to behave lawfully, observing all its power. It is crucial to address the court, because such step will allow to prove the illegality of the transfer of debt collectors. In addition, you are granted the right to sue, as a financial institution violated the Bank secrecy act, disclosing it to third parties and transferring them the personal data of the debtor.
The practice shows that the main "rod" collectors is the psychological impact on debtors. However, the borrower should remain vigilant and be mindful of the fact that such institutions have no rights to withdrawal, seizure, appeal to the court. The important thing to understand in this situation – to behave calmly and not to panic.
If the collectors threaten you and your family, then you need to record your telephone conversations on tape or by means of special programs for smartphone, then take a printout and take it to the police and Prosecutor's office.
proceedings with the Bank
The banks do not always contact with the collectors, sometimes their actions are limited to filing in court. If you want to save face, in any case, it is not recommended to hide from the judges or from the members of the institution. The borrower for a favorable resolution of the situation is to proceed as follows.
- to Visit each meeting in court.
- To build a body of evidence of the deteriorating financial condition and to convince the judge and the Bank in the cause of this situation. It may be the loss of a job, need to move to another, lower paying position, prolonged illness, birth of a child. If you wrote the application for debt restructuring and received from a Bank failure, the courts may play in your favor.
- Be sure to consult a good lawyer to create a counterclaim. This approach will allow you to achieve recalculation of interest and other commissions, who managed to accrue a financial institution.
To fully predict the outcome of a trial is unrealistic, but often the borrower wins the case, and the judge took interest and ordered only to pay a major part, that is directly the body of the loan. But if you thoroughly prepare for the court, the Bank will stretch the repayment for many years, which is almost not burden your budget. But after the entry of the judgment in force is necessary mandatory. Otherwise, you will have to deal with the bailiffs. And the list of their powers is already wider.
- , They can recover up to 50% officially earned income. If the borrower is employed informally, these agencies may send requests to any Bank of the city, and even if somewhere there is a clue in the form of an account in your name, the funds will be subject to arrest and referral for debt repayment. Are not subject to cancellation only social benefits and material assistance.
- The bailiffs have the right to impose a lien on the property in a car, household appliances, furniture, jewelry. If the debtor is a marital relationship, marital property can also be seized.
- Bailiffs can create for the debtor the obstacles when crossing the border.
As it turned out, representatives of these authorities have wider powers compared to collectors, so they really can complicate life.
Should we be afraid of criminal liability
In the criminal code there is a whole article about malicious evasion from payment of the debt on the loan. If the debt is estimated in millions roubles, and the borrower does not communicate with the banks and is not in court, there is a possibility of criminal action. But, fortunately, such situation is rare, and until the penal code is not reached. If the company in which the credit was taken, he went so far, that the borrower has the right to defend his honor. It is necessary to create the evidence base difficult financial situation does not allow you to repay the debt in a timely manner. The worst thing that could happen in this case – a conditional sentence.
Probation is given to the debtor in rare situations, so you should strive not to panic, and to prepare for trial. Best in advance to tailor their capabilities when making the credit agreement, and in case of difficult life situation – to own the rights. In the case of regular notifications from the Bank should respond to them and to get in touch. That is categorically not recommended to do is to ignore the letter and disappear from the meeting. Because the Bank sooner or later will find you, and you still have to make payments on debts.
If you receive notification, try to react, for example, report that payment difficulties are temporary. Do not ignore them, contact your Manager to the Bank branch to write the application on credit restructuring, ask for a postponement of payments.
If the amount of debt exceeds the amount of 500 Tr the defendant has the possibility of recognizing itself bankrupt. But be prepared to reverse side of the medal: if you have property or savings, all the values will be given in payment for a debt obligation. If the situation is really complicated, the court may admit the debt is cancelled without the necessity of repayment. The main consequences of non-payment and other conditions traditionally prescribed within the contract. So before making you need to carefully read all points.