If you understand that you can no longer pay your debt obligations in full, do not delay communication with the bank. The sooner you file an application and begin negotiations, the less likely you are to miss another payment and receive a fine.
Credit holidays
This is a payment deferment for several weeks or months. During the loan holidays, you can not pay at all, no penalty is charged, there are no negative consequences for the CI.
The convenience of the service is that the borrower gets a temporary pause to solve financial problems. But there is also a disadvantage: during the holidays, interest continues to accrue, and the contract is qatar mobile database extended for the period of deferment, which increases the final overpayment.
Some categories of borrowers are entitled to a holiday by law. We have described in detail the rules for applying for a deferment in 2022Here.
Bankruptcy
This is a legal opportunity to get rid of debt obligations on bank loans and loans in microfinance organizations. The option is suitable for borrowers who do not have enough money and property to pay off debts.
The bankruptcy procedure for individuals in Russia is regulated by the law "On Insolvency (Bankruptcy)". There are two types of bankruptcy:
extrajudicial,
judicial.
You can declare yourself bankrupt without going to court if you have debts from 50,000 to 500,000 ₽, if bailiffs have previously tried to collect these debts but did not find valuable property. You can start the extrajudicial bankruptcy procedure by contacting the MFC.
Judicial bankruptcy is available for debts over 500,000 ₽. You need to send a statement and documents to the court proving that you can no longer pay your obligations. This will be followed by a court hearing with review of documents and property assessment. If the decision is positive, bankruptcy is formalized, and all issues with debt payment are transferred to the financial manager.