What happens if you don't repay the microloan? How not to pay microloans legally

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

In the article, we will consider what will happen if you do not repay a microloan.

Microcredits, or microloans, are now widespread due to the fact that MFIs rarely turn down their borrowers. By the way, now you can take a microloan not only from microfinance organizations, but also from credit cooperatives and private lenders.

If there is not enough money to pay, in modern life no one runs around friends and neighbors and asks for a loan. All financial problems are solved in 30 minutes if you apply for a microloan. Such loans are currently at the top of popularity, and many people can get them in a microfinance organization.

There are almost no requirements: from the documents you need a passport and, in extreme cases, a pension or driver's license. IFC may require a military or student ID. You can get a microloan on a card, in cash or through a certainpayment system. The term of such a loan can be several days or months. The average age of people who can apply for such a service is 20-65 years old.

There are often situations when a person wants to get a microcredit quickly, but is in no hurry to return the money.

What will happen if you do not repay a microloan, they often ask.

Factors of non-payment

The reasons why a borrower does not repay money are quite diverse. They can be:

• the client did not calculate his financial capabilities, and he cannot repay the debt;
• an unpleasant situation arose with the borrower at work and he was forced to pay off other debts - as a result, the person is left without a livelihood;
• the borrower is delayed with the issuance of wages;
• some unexpected expenses occurred (illness, vehicle repairs, etc.)

There are many other reasons why recipients of microloans to the card do not pay their debts on time.

What happens if the microloan is not repaid?

If a client is indebted to a bank or an MCC, then he will probably have a question - how not to give money to microfinance organizations and what will happen in such a case? Although you can often hear information that you should carefully read the agreement before signing all the necessary documents for obtaining a loan, however, many borrowers ignore this advice. In the future, it turns out that the recipient of the loan will not be able to pay money to the microfinance organization, sinceinterest rates on it are very high, and the lending period is too short. What happens if you do not give a loan to the Credit Plus MFI, Creditico MFC or Express Finance?

The client can contact the organization and say: “I can’t pay the microloan, what should I do?”.

If a borrower says that he cannot repay the funds on a microloan and addresses a company with a similar problem, it, as a rule, makes concessions to such a client and offers various ways to solve such a problem. This can be refinancing, prolonging a loan or restructuring a monetary debt. In cases where the applicant has nothing to repay the loan, but he does not take any decisive action on this matter, fines may be charged.

Often people say: “I got microloans and don’t pay!”.

In cases where clients who have received microloans from an MFI do not want to pay loans, ignore phone calls and hide from employees of this financial institution, a banking organization can sell the money debt to a collection agency. At the same time, unscrupulous borrowers who are in arrears and overdue on loan payments receive “minuses” in their credit history, which in the future will be a serious obstacle to obtaining another loan or microloan. The last step in the return of funds is the appeal of the credit institution to the court. However, current practice shows that collection agencies or MFIs rarely go to court. ATIn most cases, they try to force the recipient of a microloan to repay the funds under the loan agreement on their own.

How not to pay microloans legally?

Some unscrupulous borrowers claim that they do not pay debts to MFIs and they have nothing for it. But is it really possible not to pay a microloan for a year or more? What will happen if you do not pay the microloan has already been mentioned above: fines, litigation. However, in Russia there is a law that allows you to write off all debts from borrowers. This is the bankruptcy law of an individual. According to information from the Internet, debt relief is possible only if the total debt to banks and all IFCs has reached 500,000 rubles. Although if a person says that he does not pay a microloan and is waiting for debts, then this law is unlikely to help him. The MFI pays borrowers only small amounts of money, and it takes a very long time until the debt reaches the amount of 500 thousand rubles.

According to the above law, bankruptcy is a long and very complicated procedure that requires a lot of time and money.

How to legally not pay microloans, we told.

Tips

If some people do not understand how it is to borrow money and not pay it back, then others argue that it is completely legal not to pay microloans. Is the law really on the side of the debtor in this case and can the microloan not be repaid?

It doesn't matter at all where a person took a mini-loan, in MFO "Denga", JSCB "GreenFinance" or "MoneyMan", according to the terms of the loan agreement, he must return it.

There is only one legal way to not repay a microloan. All employees of a financial institution are familiar with the expression "bad debt". This means that neither the collectors, nor the MFI itself, nor the bailiffs can do anything with the borrower to force him to pay the debt. As a rule, such debts hang for years, high interest accrues on them, but sooner or later they are written off anyway.

This is the question of what will happen if you do not give a microloan. Sometimes nothing happens for it.

If a person borrowed funds, did not repay, and such a loan was written off, then there were special reasons for this. The list of such reasons includes:

• if the borrower is unemployed and cannot find a job for a long period of time;
• there was no movement of funds in his bank accounts that could be withdrawn to pay off the debt;
• debtor cannot be found by bailiffs;
• the debtor has no property that bailiffs could confiscate;
• a counterclaim was filed by the borrower requesting that the interest on the microloan paid out be too high or illegal.

Debt cancellation takes quite a long time, the whole procedure in some cases lasts for years.

So, a person took a microloan and did not repay, what threatens him for this?

Can they be imprisoned?

This question is often found on various money forums. If a person has a debt on a microloan that he cannot repay, and collectors constantly scare him with prison, then it is understandable that he wants to know what will happen if microfinance and interest on the loan are not returned.

Most often, collectors and MFIs are frightened by article 159.1, but it can only be imputed if the microloan borrower planned in advance not to return the money, and if at the time of signing the offer he realized that he could not pay this loan.

If we are talking about a fairly large amount of money, then other articles may be imputed: 177 and 165 of the Criminal Code. According to lawyers, there are a lot of important footnotes that create some difficulties and do not allow applying these articles to IFC borrowers, since, for example, article 177 is more relevant to legal entities and individual entrepreneurs.

Organizations that issue microloans sue debtors?

What to do if the case goes to court?

Rare court fully takes the side of the credit institution. In most cases, part of the fines is simply written off, as they are too high. There are cases when the court ordered the borrowers to return the entire microloan and at the same time also part of the fines. In addition to the principal amount of the debt, it was required to reimburse legal costs. Sometimes, on the basis of a court order, part of the wages of an unscrupulous borrower was deducted to pay off monetary debts. Atnon-return of money, arrests of bank accounts were also observed, and most often in cases of receiving funds on a card.

Is it possible not to give microloans, many people are interested.

Can I complain about an MFI?

If a person has taken a microloan, but he has nothing to repay it, and the IFC does not make certain concessions to write off or extend debt obligations, then this problem has a solution.

Let's tell you how not to pay interest on a microloan.

Every year there are more and more people who are dissatisfied with the service of the ICC. Sometimes their employees behave inappropriately, demanding the return of a microloan taken a long time ago, then collectors go too far. Finding themselves in such an unpleasant situation, not all borrowers know where to complain about MFIs, and accordingly, they are not able to fully protect their rights. There are several institutions in the Russian Federation that are ready to provide assistance to such people: SRO NP MiR, Rospotrebnadzor, the Federal Antimonopoly Service and the Central Bank.

It is necessary to write a complaint against an unscrupulous organization, indicating your data, the essence of the appeal and the registration address. The complaint must be signed and a copy of the contract attached to it. Checks are also attached, which confirm the cash payments. If the collectors have violated the law, it is necessary to file a complaint with the police. As for collectors, apart from intimidation and psychological pressure, they will not do anything with the borrower.

Therefore, in case of non-payment of a microloan, it is necessary to beready for such "guests", who can come not only to the debtor's home, but also visit the organization in which he carries out his labor activity. Psychologically, you should also prepare for frequent phone calls. On the Internet, you can see numerous reviews of debtors who could not return the money on a microloan, and collectors damaged their car and poured paint over the house. There were cases when they spoiled the reputation of borrowers using social networks.

What will happen if you do not return the microloan? The question is very relevant today.

How to get microcredit again?

If a person has large debts on microloans, but he wants to pay them off, an online loan is unlikely to be issued to him again. To return a regular loan, you can visit the office or try to negotiate in person by calling the hotline number. Many MFIs, if the borrower wants to repay the loan, make concessions and refinance the loan.

You can turn to lawyers with the question: “I don’t pay a microloan, are the consequences of this serious?”

Where can I get legal help?

Required assistance can be obtained from any legal adviser who is competent in money matters. Often, lawyers help with an online appeal. Using a special chat, you can ask a specialist any question and find out what will happen if you do not pay a microloan; what documents are needed in order to write off the debt, can the debtor sue the MCC, what collection of the MFI can be against himapply.

Microloan via the Internet

Today it is possible to get a small loan without leaving home, just using the Internet. On the main page of the selected MFI, you need to find a calculator, set the required amount and terms, choose the most convenient way to receive funds, fill out a document and send it to the lender. If he approves the application, you will need to sign a loan agreement using SMS and collect the money. Many people mistakenly think that a distance contract is not valid and you can not pay a microloan. Those who take loans online need to know what laws apply. The electronic signature is considered valid, and the person taking the microloan is fully responsible for his own actions. It is unlikely that it will be possible not to repay the debt, unless certain judicial instances take part in this, which will need to prove their insolvency.

However, anything can happen in life, and any borrower should know what to expect if the money is not paid back. Firstly, the law will not allow a credit institution to charge fines that exceed 20% per annum. Secondly, it is not allowed to increase the microloan by more than 4 times due to fines. That is, if a person had the opportunity to receive a microcredit for 10 thousand rubles, the financial institution does not have the right to request a return of more than 40 thousand. In some cases, you will need to seek legal advice.

The main thing that lawyers advise people who want to get a microloan,is to think carefully about your move. Since commercial lending institutions care little about the solvency of their customers, borrowers must weigh the pros and cons and evaluate their ability to pay, even when it comes to a small amount of money. It will not be possible not to pay a microloan with impunity, and judicial practice has repeatedly proved this. In any case, certain methods of influence will be taken against the debtor, and he will have to repay the debt, even if it is only a part of it.

We have considered what will happen if you do not repay the microloan.