Credit restructuring - what is it in simple terms? Golden rules for credit restructuring.
The economic crisis is slowly but surely entering our lives from TV screens and Internet news headlines. Prices are rising, wages are falling, staffs are being cut - and borrowers of banks, who yesterday looked at life with optimism, find themselves unable to pay loans on the same terms. Desperate people begin to take out new loans at frenzied interest rates, hide from banks, exacerbating their already unenviable position. What to do? The most understandable, legal and civilized way to reduce the debt burden is to negotiate with the bank on credit restructuring. What it is? How is the restructuring carried out? How to write an application for restructuring a loan debt, a sample?
Despite the complex name, upon closer examination, this procedure becomes accessible and understandable for a wide range of borrowers who find themselves in a difficult situation.
What is loan debt restructuring?
Loan restructuring is a change by the bank at the request of the borrower of the conditions loan agreement, allowing to reduce the debt burden on the borrower who has fallen into difficult life circumstances (dismissal from work, reduced income, prolonged illness, etc.). As a rule, restructuring is beneficial to both parties credit agreement- the bank avoids the formation of overdue debt and the creation of additional reserves for it, and more easily fulfills the requirements The central bank according to mandatory standards. The borrower gets the opportunity to take a breath, gather strength and repay the loan with little blood. Moreover, restructuring does not impair credit history... Almost all banks use this tool - the bank's goal is not to let you go around the world, or to sell the pledge accepted on the balance with sweat and blood, but to get the money due back with interest. And if the bank sees an opportunity to restructure the loan debt, it will use it.
What loans can be restructured? What are the options for restructuring?
So, you are wondering - how to restructure the loan debt? First of all, you need to have confirmation that the restructuring is really necessary for you. The bank requires documentary evidence that you are having difficulties with paying off the debt - a certificate from work about redundancy, a decrease in the level of income, a medical record, a certificate from a medical institution, etc. Secondly, it is highly desirable that at the time of contacting the bank you do not allow serious delays in the payment of the principal and interest. Thirdly, the loan was not supposed to have been restructured earlier. The list of conditions may change in some banks up or down.
It is worth remembering that the bank can, but is not obliged to restructure your loan. If he doubts your good faith or the prospects for financial stability, the loan, most likely, will not be restructured. And the ball is always on his side. Therefore, the answer to the question - "How to achieve debt restructuring on a loan?" - rather trivial: behave honestly and responsibly. Contact the bank before the delay occurs, declare your difficulties openly, express your readiness to repay obligations in good faith - and they will meet you halfway.
How to restructure loan debt with maximum benefit for yourself? Banks can offer you (as a rule - a choice) several alternatives: increasing the loan term, " credit holidays», An individual debt repayment schedule, change in the currency of the loan, decrease in the interest rate on the loan.
Restructuring procedure
How is the debt restructuring on the loan carried out? First of all, you must take the first step - go to the bank and declare your intention to renew the loan on new terms. You must write an application for restructuring a debt on a loan, a sample will most likely be presented to you by a loan officer. In Sberbank and a number of other large banks, you do not need to write a free-form application - you will be given a special form to fill out. It must indicate the reasons for the deterioration financial condition, a list of available loans, information about property, financial flows, the preferred restructuring scheme for the borrower.
If you have difficulty filling out an application at the bank, write an application for restructuring the loan debt, a sample is presented below.
In "Bank name, address"
from "name, index, address",
Statement
"Date" between "Full name" and "Bank" was concluded Loan agreement No. __ from "Date" on the following conditions: loan amount __ rubles, for a period of __ (term of the final loan repayment "Date") interest rate on the loan __% per annum, intended use - by _______.
According to clause __ of the Loan Agreement, it is envisaged to change the size of the interest rate, the term for repayment of the loan by the Bank, both unilaterally out of court, and by agreement of the parties.
Since "Date" there has been a deterioration in my financial situation related to…. (job loss, decline wages or a decrease in total income, natural disasters, force majeure, illness, etc.), which is confirmed by the following: (indicate documents confirming the reason: income statement, proof of unemployment status, etc.).
Throughout the term of the Credit Agreement No. __ dated "Date", I paid the Bank on time all payments: principal, interest, commissions; as of the date of this application, there is no overdue debt.
Based on the foregoing, I ask you to restructure the debt under the loan agreement No. __ dated "Date", namely:
1. to reduce the interest rate to _______ per annum;
2. to roll over the principal amount for a period of __, changing the term of the final loan repayment from "Date" to "Date".
Appendix: 1. A copy of evidence confirming the deterioration of the financial situation - on __ sheets.
Full name, date, signature.
The application / questionnaire goes for consideration to the bank's troubled debt service. If all the formal requirements of the bank are met for the possibility of restructuring the loan, the possible parameters of the restructuring are agreed with the borrower, and a list of documents required for consideration of the issue at the credit committee is sent to him. After the borrower has collected all required documents and if the credit committee makes a positive decision on restructuring, an agreement on new terms of the loan agreement is signed between the bank and the borrower.
How to restructure loan debt without wasting time and nerves? Contact the bank immediately after the fact that your financial condition deteriorates. Avoid delays in mandatory payments. Don't dig yourself financial hole- do not take new debts to pay off old ones, refinance in another bank, and even more so in a microfinance organization, as a rule, is much more expensive and troublesome. Remember - the favorable resolution of your financial problems beneficial to both you and the bank.
Konstantin Yelsky
When there is no way to fully repay the loan, debt restructuring can be one of the options for solving the problem. So, you can avoid the accrual of penalties for delays, communication with collectors, litigation with creditors. The main thing is not to hide from responsibility, but to make contact with the bank, highlighting your difficulties, because the law is on the borrower's side. The restructuring program is legally enshrined in the RF BC Art. 105.
What is debt restructuring and what is it like?
So what is citizen debt restructuring? The procedure involves changing the conditions in the agreement between the borrower and the lender. Restructuring methods are as follows:
Bank restructuring method | Peculiarities |
Prolongation of the loan agreement | The term of the loan is increased, monthly payments are proportionally reduced. If there are fines, they are also broken up on a monthly basis. In this case, an increase in the interest rate is not excluded. |
"Credit Holidays" | Assumes a deferral of payments for a period previously agreed with the bank, for example, 1-24 months. During the "vacation", the borrower pays only the interest on the loan. So, the overpayment for the debtor increases. The method can be called the most expensive for the debtor, but sometimes it is the only way to pay off the debt to the bank. |
Decrease in interest rate | Bankers very rarely go to this type of restructuring. As an exception, they may allow a decrease during the period of a decrease in the refinancing rate of the Central Bank of the Russian Federation and only for borrowers who are in delay for the first time. As a rule, these are “mortgage” clients. |
Currency change | The program is relevant during the devaluation period. It is extremely unprofitable for banks to replace the currency of the loan, therefore this decision can be made as a result of political pressure on the management banking organization formed under the influence of external factors. |
Penalty write-off | The option is possible, both partially and completely. To do this, you will need to present the creditor with compelling arguments of your innocence in the delay, for example, sick leave or a decision to declare a citizen bankrupt. |
Combined program | In some cases, the bank can simultaneously apply several methods of restructuring. For example, extend the loan term and write off part of the penalty. This approach is not standard, and is used in individually. |
Debt restructuring is not a panacea for credit problems. It is designed only to facilitate the payment of debt on a loan. And far from all borrowers the bank gives the opportunity to "rehabilitate". Much depends on a person's credit history, whether he has strong evidence of his insolvency, the desire to cooperate with the bank and fulfill his obligations.
The debt restructuring service became widespread in Russia during the well-known crisis of 2008, and today the procedure is no less relevant for many. So, it is recommended to ask for help in advance, without waiting for the delay and the accrual of penalties. Then the chances for the consent of the bank to implement the procedure increase significantly. Nevertheless, there are cases when changes in the contract occur several months after the date of the delay, often appointed by the court.
In most cases, a debt restructuring agreement between a creditor and a client is concluded when the following circumstances arise:
- The borrower's income dropped sharply.
- An employee lost his job (staff reduction, company liquidation).
- The entrepreneur lost his business.
- The client has a serious illness that requires large expenses, etc.
- In the family of the debtor, the main breadwinner died or a new member was born - a child.
Initially, the borrower must offer his possible ways out of the situation, and then the bank will decide how to restructure the debt, based on the available facts. In addition to verbal explanations, the bank needs documentary evidence of the difficulties that a citizen has. For example, a sick leave, a certificate from the place of work, where a real drop in salary is indicated, a copy work book with a note of dismissal, etc.
You should apply for the service if you are under the age of 70. Those who have not previously resorted to restructuring, as well as those who have a good credit history, are more willing to approve the request.
How is debt restructuring carried out?
The debt restructuring procedure has a certain sequence. Let's consider the borrower's action plan in more detail:
- Contact the lender by visiting the nearest branch.
- For now, verbally voice the problem. If the bank says that such services are not provided, ask for a written refusal.
- After, write an application for restructuring.
- If you agree, agree on a scheme for changing the terms of the loan agreement that suits both parties (according to the standard or individually).
- Collect the documents required for the procedure to substantiate your current financial position.
- Enter into an additional debt restructuring agreement with the lender.
How to prepare a debt restructuring application?
Writing a debt restructuring application is one of the mandatory items implementation of the procedure. In fact, this document is an analog form of the questionnaire, and it is filled out not in a strictly regulatory, but in an arbitrary form. Here are indicated:
- Information about the borrower and his documents.
- Data from the loan agreement.
- The reasons for the material difficulties (documents confirming this are attached).
- Description of the prospects for improving the situation in the future.
- The borrower's chosen method of alleviating the credit situation.
Benefits from restructuring
So, what does debt restructuring mean, we hope you understand, but a related question arises: how beneficial is it for the debtor? In this case, there are two opposite sides, namely:
- Restructuring allows you to reduce the loan burden, reduce the amount of monthly payments, change the currency on the loan in order to avoid the negative impact of devaluation, and postpone the loan repayment period.
- The total overpayment on the loan will increase if the borrower repays with smaller payments for a longer period, and if the loan is converted into another currency, then, most likely, the interest rate will be higher.
How to do the right thing is up to you. Let us only emphasize that it is worth resorting to the debt restructuring procedure only as a last resort, when there really is nothing to pay the loan with. Improve your financial literacy and learn to build the right mutually beneficial relationships with banks.
Financial problems and difficulties encountered in the process of repaying a loan can become the reasons for a borrower's default. As a result - litigation, procedure enforcement debt or a bankruptcy process voluntarily initiated by the debtor himself. According to the draft law "On bankruptcy", the court is obliged to appoint a restructuring of the loan of the problem borrower. Also, bankers themselves resort to restructuring, if they do not want to bring the case to court. Is restructuring a profitable solution and an effective way to get rid of financial problems? Let's try to understand these issues.
What is the restructuring of a bank loan
Loan restructuring consists in changing the terms of the loan agreement in order to reduce the burden on the borrower and reduce the amount of the monthly payment. Unlike refinancing, restructuring can only be carried out in the bank that provided the loan. If, upon refinancing, there are delays, unpaid penalties, etc. are reasons for refusing to lend, then during restructuring, the presence of debt, on the contrary, is often the main reason for making changes to the loan agreement. Sometimes financial institutions even promise to "cancel" the accrued penalties to help the client "get back on schedule."
Debt restructuring is a good opportunity to avoid problems that inevitably arise for the borrower when the financial condition deteriorates (in case of loss of work, reduction in income levels, etc.). By changing the terms of the loan agreement so that the monthly planned payment of the borrower is reduced, the bank pursues several goals. Firstly, he takes care of the quality of his loan portfolio (preventing an increase in the share of overdue debts), and secondly, he gets the opportunity not to go to court and not spend money on preparing a claim.
The benefits of restructuring for the borrower are more significant. The client, the terms of the loan agreement of which the bank agrees to change, can:
- maintain your positive credit history (with a short delay);
- prevent the start of litigation with the bank (which will later become an "indelible dark spot" on the credit file);
- save your money (not all borrowers get these benefits);
- avoid default, since the bank minimizes the monthly planned payment and provides an opportunity to repay the loan according to a new schedule;
- get the opportunity to get rid of the unpaid penalty;
- avoid enforced collection of the amount of debt in the course of enforcement proceedings.
We will tell you in more detail how the restructuring can be carried out.
The main types of loan restructuring
Upon timely contact with the bank (before financial institution will file a claim in court for the early recovery of the entire amount of the debt), the borrower can count on the following restructuring options:
- Prolongation of the loan(an increase in the term of the contract, as a result of which the planned monthly payment, but the amount of overpayment on the loan increases). For example, if the amount of your debt was originally 200,000 rubles, the term was 24 months, and the rate was 30% per annum, then you would have to pay 11,182.56 rubles per month, the amount of overpayment would be 68,381.54 rubles. Suppose that after 6 months the borrower has not coped with the repayment and applied to the bank with an application for prolongation for 12 months. Then his payment will be reduced to 7 668.65 rubles, however total amount overpayments will increase to almost 92,600 rubles (more than 24,000 rubles). Personal calculations can be done in a loan calculator.
- Change in lending currency... For example, due to the rise in the dollar exchange rate, it became difficult for many borrowers to repay loans issued in American currency... Converting a loan into rubles at a rate that corresponds to the current lending program may be beneficial to the client. However, this is not a popular restructuring option.
- Provision of credit vacations(only for the "body" of the loan, only for interest or vacations, implying the release of the debtor for a while from any payments on the loan). That is, the borrower within 3-12 months can pay only the "body" of the loan (the most profitable option that allows you to reduce the overpayment on the loan) or only interest (on the contrary, the least profitable case - interest is charged on a fixed, non-decreasing amount). A rare case is the granting of the right not to pay the loan at all for 3-6 months. For a better understanding of the issue, we recommend that you familiarize yourself with the basic methods of calculating loans.
- Transfer of a card loan to a cash loan(it is not often used, it is beneficial due to the fact that the rate on consumer loans in cash is usually lower than on card loans).
- Penalty write-off.
- Reduction of the loan rate... Refinancing programs, as a rule, are carried out only under the condition of an ideal credit history.
- Combined option... For example, prolongation is often combined with a change in the currency of the loan.
If the borrowers had a delay in the "body" of the loan or in interest, the lender offers to either repay the debt or capitalize it. Note that restructuring with capitalization is always unprofitable: due to overdue interest, the balance on the "body" of the loan increases. For example, the balance of the debt is 100,000 rubles, the delay is 5,000 rubles, including 3,000 - for the "body" of the loan, 2,000 - for interest. With capitalization, the amount of the "body" of the loan will increase and amount to 102,000 rubles (since 3,000 rubles of debt on the "body" were already included in 100,000 rubles, and 2,000 rubles in interest were added to them).
It is quite obvious that restructuring can be considered the best option for solving financial problems only if debt servicing on the same terms is impossible for the borrower for good reasons.
In order to carry out the restructuring, the borrower needs to submit an application and a number of documents to the bank. We will describe their list and the procedure for considering the application below.
How to restructure: bank requirements and registration procedure
Usually, for restructuring (regardless of whether you yourself applied to the bank for this purpose, or the credit manager contacted you and offered to change the terms of the agreement), the following documents are required:
- general passport;
- application form;
- work book (with a note of dismissal, if you have lost your job since the moment of applying for the loan);
- a certificate from the place of work in the form 2-NDFL for 6 (12) months (from the place former work if you are fired);
- a certificate from the employment service about registration (indicating the amount of the benefit paid);
- agreement of the spouse (wife) to change the terms of the contract (for mortgage lending).
The main condition for borrowers applying for restructuring is the bank's confidence that the debtor really needs help and that the change in the agreement will help him "get on schedule." Otherwise, financiers risk only wasting time in vain (despite the fact that most often they receive additional profit in the form of increased interest when prolonging the loan or credit holidays for the "body" of the loan).
For example, Sberbank agrees to consider applications from borrowers only if their financial condition deteriorates as a result of:
- decrease in income as a result of layoffs or changes in the level of wages;
- loss of an additional source of income;
- the onset of parental leave;
- conscription;
- serious illness, disability, death (in this case, the debt that will have to be paid by the heirs is subject to restructuring).
In addition to the standard terms of restructuring, Sberbank may propose to change the procedure for repaying a loan within the framework of grace period(for some types of lending) or change the order of debt repayment (usually, first of all, a penalty is charged, then interest, and only then - payments on the "body").
The advantage of restructuring is that it is often performed free of charge: only if mortgage loans the borrower may incur associated costs associated with the need to sign an additional agreement to the notarized pledge agreement. A significant drawback of restructuring is considered to be an increase in overpayment on a loan (with the exception of the use of 2 options: transferring a foreign currency loan to a ruble denomination and providing holidays "in interest").
Thus, if your financial situation has deteriorated, and you have made several delays in payments, then you need to urgently contact the bank and ask to restructure your loan. This will allow you to avoid serious troubles and get out of difficult situation... The bank may refuse to carry out the restructuring, in this case, ask for a copy of your application with a mark on the registration of "incoming" and refusal to writing: these documents may be useful to you in court. The financiers' claims may be rejected in part or in full by the judge if it turns out that you have asked for help that you were denied.
Hello, friends!
If you are a “happy” owner of a loan, then I sincerely wish you to pay it off as soon as possible and never have a delay in repayment. But what to do in case of its formation or the probable onset of a personal financial ruin? One of the possible ways is credit restructuring.
What is it, how and for whom is it carried out? These are the main questions that I will try to answer in my article.
The answer to the question is unequivocal. Nothing good. Do not be fooled by the numerous tips of "Internet experts" on deceiving banks and the state. The schemes they offer may lead to a completely different place where you plan. In my article, I talk about this in detail. Pay attention to the ways out of a difficult life situation. Restructuring is one of them.
Restructuring concept
What is loan restructuring? Ideally, these are measures that should ease the debt burden of a borrower in a difficult financial situation. These measures are developed by the bank, taking into account the analysis of your current solvency and your own policy.
Below we will look at the main types of restructuring. But first we must remember about one more word, similar in sound, but not in meaning, -. They should never be confused. What is the difference between these two concepts? It's time to remember or find out.
The restructuring is carried out in the same bank where you received the loan.
Refinancing can be arranged elsewhere. In it you completely enclose new loan contract, which should have more profitable terms lending. New bank pays off your old debt or debts, because you can refinance several loans at once. And you begin to repay now the only loan to your new bank.
The restructuring does not imply the conclusion of a new agreement. The conditions of the old one change, that is, you remain the debtor of your bank, but on different conditions. The bank agrees to meet you halfway and facilitate the repayment of the loan debt. Is it really? Not everything is as rosy as the borrowers would like. I will definitely tell you about this and show it in figures.
There is one more significant difference. Refinancing is almost impossible to do if there are loan arrears. Banks are demanding on this issue. And on restructuring, delays are allowed and often becomes the reason when the bank itself turns to you with a proposal to carry out this procedure.
It should be said that the initiators of debt restructuring can be the client himself, this is the best option, the bank and the court. Why did I write that the most acceptable option is the initiation of the procedure by the borrower? In this case, the bank is more willing to meet halfway, offers more loyal conditions. You are not hiding, you do not refuse to acknowledge the debt for yourself and the need to pay it off, you ask for help.
A completely different situation is when you, for some reason, do not inform the bank about a difficult financial situation. There are repeated delays. The bank perceives this as an elementary unwillingness to pay. Therefore, the conditions for restructuring will be more stringent.
The last instance is the court. Some borrowers deliberately pull it up to this stage. Such a desire is connected with the fact that the court often takes the side of the debtor. Fines, penalties for non-payment, and sometimes interest on the loan can be canceled. Such a development of events is completely unprofitable for the bank. But the borrower must also provide a solid evidence base for his difficult financial situation. Don't overestimate your legal ability!
Benefits of restructuring
Since both borrowers and banks willingly agree to this procedure, it means that it is beneficial to both parties. Let's look at the pros for both.
Benefits for borrowers:
- The monthly debt burden(but not total for the loan) in the event of an increase in the loan term.
- In the absence of delinquencies, your credit history does not deteriorate. Some borrowers care about their reputation because they expect to receive loans in the future.
- You avoid meeting collection agencies and do not get the attention of the bank's internal debt collection services. Maintain your mental health and nervous system in relative peace.
- Save on legal costs, legal advice in case of bringing the case to court.
- Get a break (during your credit break) to get your finances back on track.
Benefits for the bank:
- The bank does not lose a client, but only changes the terms of debt repayment. He also makes good money on this. Later I will show you a specific calculation in figures.
- Saves on legal costs and sewers.
- It does not degrade its rating, because the presence of overdue debt in the balance sheet structure leads to exactly this result.
- Doesn't worsen his financial situation because he doesn't spend money reserve fund, specially created to pay off the debts of unscrupulous borrowers.
In general, some solid pluses. But there is still a fly in the ointment. Let's look for it when answering the question of how to restructure an individual.
Types of restructuring
Banks offer the following types of debt restructuring:
- extension of the loan term,
- credit holidays,
- change of loan currency.
Let's consider them in more detail.
In this case, the bank increases the loan repayment period to the borrower by reducing the payment amount. The monthly financial burden on the debtor decreases, but the total amount to be repaid increases. I'll show you with a specific example.
You took out a loan of 500,000 rubles at 15% per annum for 3 years. The monthly payment is 17,333 rubles. Loan overpayment - 123 976 rubles. Under the restructuring program, the loan term was increased to 4 years. The monthly payment became 13,915 rubles (decreased by 3,418 rubles). But the overpayment on the loan was 167,938 rubles (increased by 43,962 rubles).
On the one hand, you will pay less per month, but for a whole year longer. And the most important thing is a decent amount of overpayment increase. This is the advantage of restructuring.
Credit Holidays
Another option for restructuring is a credit vacation. Not all banks offer it. Consider 2 programs:
- Tinkoff Bank
You can skip the monthly payment (1, 2 or 3 times depending on the loan term). Connection fee - 0.5% of the initial amount. After 3 months after connecting, you can activate this service, but not earlier. If the loan term is 1 year, then you have the right to miss 1 payment. If 2 years - 2 payments and 3 years - 3 payments.
You can skip the monthly payment every six months (no earlier than 6 months after receiving the loan and no later than 3 months before the end of repayment). Each missed payment increases the loan term. The service is connected free of charge.
Change of loan currency
In the early 2000s, when the program mortgage lending only gaining momentum, many citizens took out loans for housing in foreign currency. It’s not worth telling how it turned out for them over the years. plummeting ruble. Therefore, some banks in the restructuring program provided for the transfer of foreign currency loans to rubles.
I think that it was this path that helped to significantly ease the debt burden of borrowers.
What is the restructuring program?
The first thing I want to draw your attention to is that any program is drawn up for a specific borrower. Therefore, it is difficult to find information on the requirements, parameters and types of assistance on the official websites of banks. Such a program is presented in the most detail at Sberbank. Using her example, let's see how to restructure a loan.
Sberbank offers 3 options for restructuring.
What steps need to be taken to restructure your loan:
- Fill out an application for restructuring in the form of a bank.
- Collect and provide the bank with a package of documents (a complete list is available on the website).
- Wait for the bank's decision. If it is positive, then sign the amended terms of the loan agreement.
In fairness, it should be noted that Sberbank honestly (albeit very small print) warns that overpayment may increase. And he doesn't restructure credit card debt.
As usual, I carefully studied more than 100 reviews of borrowers on restructuring issues at Sberbank. Almost all of them relate to mortgages. We will talk about it below. But the overall result of the analysis is deplorable. Applications are considered not even for weeks, but for months. The customer care service responds to the outraged reviews of citizens on the Banki.ru portal PJSC Sberbank... Sounds like a mockery.
State program of assistance to borrowers
The restructuring of the mortgage deserves a separate discussion. I have already mentioned above that the largest number of reviews is received on this issue. And this is understandable. Unlike consumer loans, mortgages are issued for a long term. During this time, the interest rate has changed significantly.
In 1999, it was 35% with a loan term of 5 years, and in 2006 it was already 14.9%. Until 2008, the decline continued. Then the swing began again. In 2014, the rate was 17 - 20%. Finally, today it has a record low (about 10%).
Under these conditions, in 2017 and 2018, the demand for restructuring of mortgage loans increased sharply. DOM.RF JSC (formerly AHML), 100% of which is owned by the state, has developed a special program to help borrowers. Let's consider its main parameters.
Not everyone can get help, but only the following categories of citizens.
In general, the circle of those who can count on support is quite wide. But do not forget that you must prove that you need help.
About 100 banks, including regional ones, participate in the state program. This is where you apply. Make sure your appeal meets all the requirements.
What the state program can offer:
- Changing the loan currency at the rate not higher than that established by the Bank of Russia and setting the rate not higher than 11.5% per annum.
- Reduction of the remaining loan amount by 30%, but not more than 1,500,000 rubles.
- Writing off a penalty (except for the one that has already been paid).
Please note that the program is launched by a special decree of the Government of the Russian Federation (the last of August 11, 2017). It allocates funds from the budget for its implementation. Accordingly, it will act until the moment the money runs out. Banks, as a rule, know in advance the approximate deadline for accepting applications.
In any case, if you do not meet the requirements of the state program, there is always the opportunity to contact the bank to participate in the usual restructuring program.
Analysis of customer reviews showed that the program was malfunctioning. Terms of consideration of documents are several months. People do not receive feedback. One gets the feeling that the allocated billions of rubles are simply dissolving in the air, not reaching those in need.
Here is just one of dozens of reviews.
Conclusion
It is difficult to predict your income for several years ahead. Often people take loans, especially mortgages, for more than one year. Anything can happen over the years. Everyone understands this very well: both the banks and the state. They can better imagine the most negative scenario in our life than we can, because they face it every day.
Therefore, there is nothing wrong with thinking over possible ways out of the crisis at the first signs of impending difficulties. What do you choose? Refinancing, restructuring, bankruptcy of an individual? It's up to you. The main rule is not to delay making a decision. Not only the quality of your life depends on it, but also that of your loved ones.
What is loan restructuring and how is it going at Sberbank? Who assists debtors in debt restructuring? What are the features of mortgage restructuring with the help of the state?
Hello, dear readers of the HeterBober business magazine! With you Denis Kuderin.
Today we will continue to explore the multifaceted and extensive topic of bankruptcy. The question to be addressed in new article- debt restructuring.
The topic will be interesting and useful to everyone who at least once took money on credit, as well as to those who are interested in current financial problems.
In this article, I will share my personal experience.
So let's get started!
1. The main reasons for debt restructuring
To begin with, let's define what constitutes debt restructuring.
This is a measure applied to debtors who are in default, that is, to those borrowers who, for whatever reason, cannot service their credit debts.
Restructuring implies a revision of the existing situation with respect to interest, amounts and payment schedule. In fact, this is a kind of attempt to restore the borrower's solvency by providing him with some credit benefits.
If you are no longer able to make regular loan payments, do not panic and despair. Another vicious line of behavior is to let the situation go by itself, expecting that the problem will "resolve" by itself.
Alas, it will not dissolve. People who, in the event of delays, begin to ignore communication with creditors, make a big mistake.
The best option in such cases is to explain the situation. bank employees very frankly. Most likely, the company will meet you halfway by offering to restructure the loan debt.
Grounds for initiating the restructuring procedure:
- loss by the borrower of the main source of income (dismissal, closure of his own company, retirement, failure by the employer to fulfill his salary obligations);
- illness, injury, accident that caused disability;
- abrupt change exchange rate(if the loan is taken in foreign currency);
- changes in the payment terms by the financial company;
- the birth of a child and taking leave on this occasion, a change in marital status and other circumstances that affect the level of the debtor's money spending.
The restructuring issue is decided on an individual basis: in any case, the reasons for revising the loan conditions must be compelling.
Usually banks need documentary evidence of the borrower's insolvency, but sometimes restructuring is carried out by financial institutions for commercial purposes.
The term is applied both in relation to individuals and to legal entities. Even public debts may be subject to restructuring. An example is the write-off of 50% of Greece's debt by creditors after the 2011 Brussels agreement.
Close and sometimes identical concepts of restructuring are refinancing and refinancing. Often, restructuring becomes the outcome of an individual bankruptcy arbitration.
3. How is the loan restructuring - the main stages
Any loans are subject to restructuring - targeted, consumer, car loans, mortgages.
Let's consider the scheme of the revision of the terms of the agreement in one of the most popular financial institutions of the Russian Federation - Sberbank. By the way, branches of this bank also operate in the states adjacent to Russia - Kazakhstan, Ukraine and others.
The general sequence of actions is as follows:
- The client fills out the questionnaire in the prescribed form. The document indicates the reasons for the insolvency or deterioration of the financial situation, data on the debtor's property, his income and expenses, and marital status are entered in the corresponding columns.
- The payer is offered to choose the method of on-lending.
- The questionnaire is sent to the department for work with debts.
- The client communicates with representatives of the department - a plan for further actions is jointly drawn up.
- The debtor collects required package documents, which include data on the loan, medical certificates and other papers.
- During the regulated period, the bank makes a decision regarding the revision of the agreement.
- In case of a positive verdict, a new loan document is signed.
Other banks may be asked to write an application for loan restructuring. In fact, this is an analogue of a questionnaire, but in a more free form - without strict graphs and sections. The application must also indicate the reasons for insolvency, which are then documented.
4. What are the features of the mortgage restructuring in 2018 with the help of the state?
Mortgages are especially difficult for borrowers who have a sudden change in their financial situation. This is understandable - the mortgage is taken for a large amount and for a long period of time. In addition, under the terms of the agreement, the bank can sue the apartment bought on credit in its favor.
In conditions economic crisis many mortgage debtors face insurmountable difficulties. Incomes are declining, but payments remain the same: a huge number of borrowers today are unable to continue paying their bills.
To help debtors, since 2015, Russia has Government program restructuring of mortgage loans. The interests of payers are represented by a federal structure called AHML - the Agency for Housing Mortgage Loans.
Using this program, borrowers can not only change the clauses of the loan agreement in their favor, but also reduce the total amount of debt by 600 thousand rubles. Reduction is also available monthly payments up to 12% per annum and a grace period (credit holidays) for 1.5 years.
To initiate a state aid program for mortgage debtors, real estate must meet certain requirements.
Today they are as follows:
- housing should be the only place of residence of the borrower and his family;
- apartments (houses, cottages) should not be expensive (elite class) - the price of living space should not exceed the average cost by more than 60%;
- the dimensions of the apartment should not exceed 45 m 2 for a 1-room apartment, 65 m 2 for a 2-room apartment and 85 m 2 for a 3-room apartment;
- more than a year must pass from the date of the contract.
The above does not apply to large families- for them, the state provides preferential conditions for the area and type of housing.
There are also personal requirements for debtors.
The following categories of citizens have the right to use the program:
- disabled people;
- war veterans;
- parents of minor children (trustees and guardians);
- loyal payers who have never had problems with mortgage payments but acquired them as a result of changed economic circumstances.
In the latter case, it is required to provide documentary evidence that financial situation worsened for reasons beyond the control of the debtors. For example, they were laid off for layoffs, or the enterprise at which they worked became bankrupt.
5. Restructuring of loan debt - 7 main types
There are several types of restructuring. Sometimes the choice of the on-lending method is given to the client, but more often it is determined jointly by the creditor and the debtor.
Consider the most popular types of restructuring used in most Russian banks
Type 1. Prolongation of the loan
The term "renewal" means "renewal". Consequently, as a result of this procedure, the term of the contract is increased, and the regular monthly payment is reduced.
Example
Initially, the loan amount was equal to 200,000 rubles, and the term was 2 years. At a rate of 30% per annum, monthly payments were equal to 11,180 rubles, and the amount of overpayment was close to 69 thousand.
After six months of payments, the payer realized that he could not cope with the loan. He decided to extend the term by 12 months. The bank went to meet the debtor, increased the term and reduced the payment to 7,668 rubles per month. But do not forget that the amount of overpayment in this case increases to 92,000 rubles.
Prolongation is a way to postpone the end of a loan agreement. At the same time, the payments themselves do not disappear, but are stretched over time. Imagine a sandwich on which butter is spread in a thin layer - the amount of butter itself does not decrease.
View 2. Credit holidays
Everything is simple here - the debtor stops paying the loan body or interest on it for the period regulated by the bank. Such benefits are provided for the birth of a child, for studies, and sometimes for the duration of military service. Vacation periods vary from 3 months to 2 years.
The most profitable option for the borrower is when he is allowed not to pay a penny at all for 3-6 months. During this time, the debtor puts his financial affairs in order - gets a job or finds additional source income.
However, such vacations are rarely provided by banks, since by definition they are unprofitable for a financial institution. Most often, you still have to make some payments, but one way or another, the client gets a break and at least temporarily gets rid of psychological oppression.
Type 3. Change in lending currency
During the current economic crisis, it has become difficult (or even impossible) for many borrowers to repay loans taken in foreign currency.
Converting the debt into the ruble equivalent is beneficial for the client, but not for the bank. For this reason financial companies rarely use this kind of on-lending.
View 4. Decrease in interest rate
The loan rate is reduced if the debtor has an impeccable credit history. In this case, the total amount of the overpayment remains the same or even increases. The monthly load on the borrower's wallet is reduced, which makes it possible to somewhat improve living conditions.
View 5. Decrease in the size of the monthly payment
In fact, this type of on-lending is similar to the prolongation of a loan. The only difference is in terms and documentation.
When decreasing monthly amount the loan repayment period is automatically increased. Overall size overpayments also increase, since the payment of interest, regardless of the duration of the loan, is not canceled.
Type 6. Writing off the penalty
Some banks give the debtor a deferral to pay fines and penalties, or even write off these amounts.
However, I will say right away that such a measure is applied only in extreme cases - for example, in the event of a judicial declaration of bankruptcy or documented difficult life circumstances.
View 7. Combined version
Mixing several types of restructuring - for example, prolongation is combined with writing off fines or changing the currency of the loan. Practiced, again, in special cases and not in all financial companies.
6. How to choose a bank for restructuring - practical advice and recommendations
Credit restructuring (refinancing) is often used by payers as a way to repay an existing loan through a new one.
A borrower who has taken out a loan on unfavorable terms can contact the same or another bank with a proposal to take another loan and get rid of the existing debt.
When choosing a bank for restructuring, experts advise paying attention to the following points:
- politics financial institution in relation to on-lending;
- the size of the commission for a new loan;
- conditions for issuing a repeated loan;
- the reputation of the financial institution.
Some banks are especially active in refinancing matters. Let's take a look at some of them.
1) Interprombank
founded in 1995. It is a one-stop financial institution offering a full range of banking services physical and legal entities... The bank also deals with foreign exchange transactions, works for stock markets, offers clients professional legal and financial consulting.
For the service of refinancing loans, customers have the following options:
- any number of loans for restructuring;
- refinancing of debt up to RUB 1 million;
- reduced single payment.
How to refinance at Interprombank? Submit an application, provide documents and receive a new optimized loan. Interprombank consolidates loans from any banks with a decrease in monthly payments and interest rates.
2) Sovcombank
- a loan doctor for those who are denied loans and refinancing everywhere. The easiest and safest way to improve your credit history. The bank provides an individual refinancing program for each client.
The interaction algorithm is simple - you fill out an application on the website, show your passport at the nearest Sovcombank branch, register the product “Improving your credit history”. There are other refinancing programs as well.
What does the client get? Reducing the monthly payment, changing the terms of the loan in the direction necessary for the user, returning the property taken on bail and providing a loan vacation.
- consumer loans, credit cards, restructuring of loans from other banks. Just transfer your loan to VTB, and your debt burden will be much less. Special conditions provided to civil servants.
Other benefits include:
- long credit holidays;
- independent choice of a convenient date for payment;
- voluntary insurance.
Filling out the application does not take more than a few minutes. The bank makes a decision in 15 minutes. You just have to come to the department with the documents and arrange the restructuring.
The table shows the main parameters of restructuring in the considered banks:
№ | Bank | Amounts and terms of on-lending | Interest rate, % | Peculiarities |
1 | Up to 1 million rubles. from 6 months to 5 years | From 14 | The client has the right to cancel insurance and commissions | |
2 | Up to 3 million for a period of 36 months | 12-14 | Especially good-natured towards retirees and mature clients | |
3 | Up to 3 million for a period from 6 to 60 months | Up to 14.9 | Ability to skip payments while on vacation |
7. Who can provide assistance in loan restructuring?
It is difficult for an ordinary borrower to understand all the nuances of restructuring. Often, the favorable conditions of banks only seem to be such - in fact, the debtors, taking a new loan, find themselves in no less onerous conditions.
Some banks may refuse to restructure at all, citing the debtor's bad credit history or other subjective factors.
The best option in such circumstances is to contact a professional legal companies engaged in helping citizens to provide loans on favorable terms.
In Moscow, the following companies are engaged in such issues:
"Kommersant Credit"- an institution, all of whose employees have experience in banking security services - A team of professionals in the brokerage market of banking services;
"Credit Laboratory"- effective and prompt solution of any credit issues. The company's long-term experience allows us to prepare a client for the specific requests of credit institutions;
"Credit Solutions Service"- a company dealing with lending issues since 2010. Provides assistance to individuals and legal entities in obtaining all types of loans, having well-established contacts with banks.
The services of these and other credit brokers, of course, are paid, but as a result, such companies will help debtors save much more. Remember that decline interest rates even tenths of a percent is saving tens of thousands of rubles from your pocket.
8. Conclusion
Let's draw conclusions. Restructuring - good way get rid of credit debt without unnecessary financial losses. True, it is not possible to initiate such a procedure in all situations.
If your loans have become an unbearable burden, it is worth considering whether to change the terms of the agreement to more favorable ones. Professional lawyers will help you to do this, plus our good advice.
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