What happens if you don't pay the loan? What to do if there is nothing to pay the loan?

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Everyone has had a situation in life when money was urgently needed. The purpose of this urgency is different. Someone does not have enough to buy a new gadget, and someone is looking for money to feed a child. The means to achieve the goals are the same for everyone and depend on the possibilities. They can be earned if there is no urgency. You can borrow from friends or take a loan from a bank. People get credit cards or take out loans because, on the moral side, it's easier. No need to blush in front of relatives or friends, asking for money. But there is another side. A loved one is able to wait for the return of the debt, if you explain the difficult situation. It is difficult to negotiate with banks and microfinance organizations. Consider the causes of debt and ways to resolve the conflict with creditors. What happens if you take a loan and don't pay?

What is a loan?

This definition includes a method of exchanging money between a borrower and a lender. The loan is somethe amount of money a borrower borrows from a lender. It is returned in the same form in which it was taken (in cash), taking into account urgent interest. There is also the option of a mortgage. When dealing with property, sometimes the purpose of the loan becomes collateral. For example, a mortgage or a car loan. Or existing property of the borrower. Both movable and immovable.

Rise of debt

In the contract, which is drawn up between the lender and the borrower, the term of the loan, the amount and the interest rate are certainly indicated. For a decent organization, the package of documents includes a payment schedule with calculations. They indicate the total amount of the cumulative total payable, taking into account the term and interest. The amounts are also indicated taking into account early repayment, depending on the term of premature termination of the contract. The loan agreement indicates all fines and pen alties that will be imposed on the debtor in the event of delays during the loan repayment period. Usually there is a period without fines, it ranges from one to seven days. The methods of debt repayment are indicated, taking into account the timing of receipt of payments, depending on the method of payment. Large organizations have ways to defer payments. One of these methods is the so-called credit holidays. This service is provided by banks to borrowers who find themselves in an unforeseen situation. For those who cannot pay the monthly payment.

If the borrower ignores the payment schedule, allows payments later than the interest-free period, and completely stops paying the loan or does not use credit holidays toback into the payment schedule, debt is formed. From the moment of the first delay, subject to pen alties, the borrower becomes a debtor. Bank employees begin to act next.

What will the bank do?

Initially, while the delay is small, the bank prefers to act independently. The debtor receives messages demanding to repay the debt. From time to time, bank employees make calls to the borrower's phone number. The first purpose of such calls will be to remind the person of his delay. If the borrower values his credit history, it is in his interests to pay off the debt as soon as possible. Do not wait for further actions of the bank and do not completely spoil the credit history.

"What should I do, I haven't paid a loan for several months?" For many, this is a psychologically critical situation. Even the most honest borrowers with an excellent long-term credit history have difficult life situations. Judging them in this case is the last thing.

What to do if there is nothing to pay loans?

The answer to this question implies two views on the solution of the problem.

1. The borrower values his credit history, he is an honest and decent person and is going to pay off the debt, but later. Now he has nothing to pay. I was fired from work and have not yet found a new one, I fell ill. Perhaps something bad happened in the family, it took the mobilization of all funds. In general, there was a sharp decrease in the amount of free cash to pay the debt. As time passes and the situation changes in a positive direction, the borrower is ready to pay the debt in full.

2. Borrowerdeliberately refuses to pay the debt. It is not planned to improve the financial situation (in case of receiving a non-working disability group, for example) or it is just a scammer. It is also possible that debts may arise through no fault of the borrower. This type of debt is usually the borrowers refuse to pay. “I took a loan for a friend and I don’t pay. What will happen? - one of the most common questions from debtors.

Lender Scheme

What happens if you don't pay your loans? How will the lender behave?

1. Will try to resolve the issue on his own. On this he will spend an average of 1-2 months. During this period, the debtor will be pestered by calls from bank employees. They will patiently and politely (in self-respecting organizations) remind a person of a debt. With each call, calculate the amount remaining for repayment and warn about the consequences. If the debtor does not respond to calls, the funds are not credited to the account, then, according to the agreement, the bank has the right to transfer the case to a collection agency.

2. The case is referred to collectors. What is important: under an agency agreement. And this means that the creditor organization will still be the owner of the debt. The collection agency will perform the functions of bank employees and arrange psychological terror for the borrower. This period may last up to three years after the date the debt was incurred and may be renewed from time to time. Moreover, agencies can change, a case can be transferred to the same agency several times.

3. If the borrower does not succumb and does not repay the debt, forcedmeasures. The bank goes to court. The borrower receives a summons, according to which he must attend a meeting of the world court. If the borrower decides to check what will happen if the loans are not paid and does not appear in court, the decision is automatically made in favor of the plaintiff. And the case goes to enforcement proceedings. This process takes an average of 1-2 months before the appearance of a writ of execution.

4. The organization-creditor transfers the writ of execution to the bailiffs, the search for the debtor's funds begins. All existing bank accounts are blocked. If there are deposits, the money will be written off from them to pay the debt. The same applies to free cash placed on open accounts of the debtor. In case of shortage, the remaining amount will be deducted from wages. They can withhold no more than 50% of official income at a time.

If the debtor has no official salary, bailiffs have the right to describe the property. Subject to description: vehicles, valuables, household appliances, fur coats, antiques. You can learn more about the list on the website of the bailiffs.

Working with employees of the creditor organization

Let's take a closer look at what will happen if you do not pay loans at the first stage of the lender's actions and how to do it right.

• If it is decided to pay the debt later, but do not delay. Dialogue with the lender must be maintained. Pick up the phone as often as possible. Communicate kindly with employees of the lender organization. Perhaps they will meet halfway and offer options for debt restructuring oron-lending. This way you can avoid pen alties or minimize losses.

• If the payment is delayed for a long time (1-2 years), but it will definitely be. In this case, it makes sense to talk with the lender's employees at first. Ask about the possibility of restructuring or deferment. If there is a good reason, the bank may make concessions. To do this, you must provide documents confirming the force majeure situation (sick leave, certificate of disability, etc.). If the loan was insured, it is possible to write off the debt for an insured event and not pay the loan (disability of groups I, II). If there is no good reason for the bank, it is better not to contact the employees of the creditor organization. In the future, when the case comes to court, it will be possible to write off the debt due to the excess of the statute of limitations. This period is 3 years from the date of the last contact of the borrower with the employees of the organization. A contact is considered as a personal visit to the bank, as well as a telephone conversation or a proven fact of receipt of a written notice.

• If the decision is made to never pay loans at all. The scheme is as follows: do not communicate with the creditor, drag out time until a three-year period.

In reality, banks, of course, are aware of the statute of limitations and do not delay filing a lawsuit until that time. But there are also omissions. The bank can “forget” about the debtor if the amount of debt is small (up to 50,000 rubles) or the bank itself, under the agreement, was not a creditor initially. In the latter case, this refers to the closure of the original creditor organization. Order of the financial systemis such that the obligations of customers to the creditor become the property of the recipient organization. In the process of transferring documents, they may get lost or the bureaucratic system will delay the transfer process. So the bank itself delays the term of the right to claim the debt. You can take advantage of this. Particularly "lucky" were those borrowers whose creditor organization was liquidated, and a successor was not appointed. Then the bank's debts are written off. But this is extremely rare.

How to communicate with collectors?

Employees of these organizations are trained in psycho-emotional pressure on the debtor. There is information that during a conversation, some of them have the opportunity, using technical devices, to read which manipulative phrases have the best effect on the interlocutor. The collector's task is to squeeze debt out of a person by hook or by crook. Preferably in full. What happens if you don't pay your loans?

• Through collectors it is possible to reduce the amount of the final payment. Often they themselves call with the aim of voicing a “special offer”. The amount of the final payment is reduced by an average of 20%. If you want to pay off your debt and forget about the loan, you can use this.

• If it is not possible to pay the full amount that collectors are talking about, tell them this. And end the conversation. The purpose of the collector is to squeeze money out of the borrower. And to achieve this goal, all means are good, their premium depends on this. They go for blackmail, threats, inappropriate sarcasm and humiliation of the debtor. Can call numbersacquaintances, friends, home phone number, stalking on social networks.

It's important to pull yourself together and not get sloppy. Because this stage is the most difficult morally. Relatives and not so people who are not always friendly and able to provide moral support learn about the duty. Few people can openly say: “I don’t pay loans to MFIs” and not hear criticism addressed to them.

There are basic rules for communicating with collectors. Ask them for the documents on the basis of which they apply. Usually this is where the whole conversation ends. You are not required to give explanations to incomprehensible people over the phone about your financial affairs. Ask for an agency agreement or an assignment agreement, and only after that agree to continue the conversation in a constructive manner.

Employees of the collection agency may continue to threaten and be rude instead of providing an answer about the availability and transfer of documents. If so, hang up. It is typical for this profession to cross the line and violate the personal boundaries of a person in the process of communication. Their task is to bring the debtor to emotions so that he can get money from anywhere. Their wages depend on it.

Assignment agreement

This is an assignment agreement. So the lender gets rid of the debts of borrowers who have been assigned the status of bad debts. What happens if you do not pay loans after they are redeemed by collectors? The contract was sold to a collection agency, and now the debtor is obliged to pay the debt to them. As a rule, the maximum interest is imposed on the debt in order to receivethe greatest benefit. After all, the debt is redeemed for 5-10% of its value. It is important to remember that the maximum amount of interest that can be legally demanded from the debtor is 200% of the original loan. That is, for a debt of 5,000 rubles, they can demand a maximum of 15,000 for a refund. The actions of collectors are regulated by the law of January 1, 2018 (FZ-230). This law has given relief to many people. According to the main provisions, the debtor is assigned a curator from the collection agency, who contacts him at a strictly agreed time no more than twice a week. Calls can only be made during business hours and only to the numbers indicated by the borrower. Naturally, there can be no talk of any threats and measures of physical coercion. Collection agencies that allow themselves such actions themselves fall under the article and are subject to huge fines.

Court

What to do if there is nothing to pay loans and the creditor has taken the case to court?

There comes a moment when the phone goes silent. It is too early to rejoice, most likely, the creditor organization submitted the documents to the court. The Magistrate's Court sends a summons to the address of the borrower's residence. If he is not at the meeting, the decision is made automatically - the bailiffs act further. If the debtor appears in court and pursues the goal of not paying loans, the main task is to play for time. For a good reason (one's own indisposition, illness of loved ones, etc.), a meeting can be postponed several times. Such a postponement of the decision of the court can drag on for years.

If the judgment is made without a borrower, you can appealit within 10 days from the date of the decision. The next process will be scheduled in a civil court, where the debtor will be able to defend himself. This will require the mobilization of all forces. It is difficult to prove your financial insolvency, but if there are good reasons, it is possible. At a minimum, you can reduce the pen alty on the debt or postpone enforcement proceedings.

Bailiffs

When the case gets to the bailiffs, the first thing they do is freeze the debtor's accounts. It is important to remember here that if there is nothing to pay loans with, then the arrest will not affect in the absence of wages and official payments to the card. If there are minor children in the family or the debtor is a beneficiary - benefits, children's money are not subject to arrest. In order to limit the actions of bailiffs, it is necessary to contact the person in charge of the case and hand over to him documents confirming the nature of the money coming to the account.

If there are no accounts to be seized, bailiffs have the right to seize the debtor's property. If there is no property and there is nothing to pay loans, that's all. The process ends, accounts remain blocked, travel abroad is restricted.

Bankruptcy

From October 1, 2015, another loophole appeared for debtors, allowing them not to pay loans legally. The borrower may declare himself bankrupt. The procedure is quite complicated and imposes a lot of restrictions on the person. Its description can be found in FZ-127. So, the debtor is relieved of all payment obligations and is released from liability.

In closing

When wondering if it is possible not to pay a loan, make sure that such a possibility does not really exist. Without a good reason, this is not possible. The creditor organization will find a way to draw out the debt on its own or with the help of collectors and bailiffs. If there is nothing to pay loans to MFIs, re-borrow money from a larger organization. This measure will protect against the consequences of dishonest actions of the lender's employees.

Even if borrowers do not pay under the loan agreement for a good reason, the lender organization will shake their nerves and can make life difficult. Therefore, do not let things take their course, conduct a dialogue with the creditor, do not hide. So there is an opportunity to avoid some unexpected consequences and save your nerves by maintaining relationships with loved ones.