Restructuring a loan at Sberbank to an individual: conditions, applications, documents and reviews

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

Having taken a loan from Sberbank, an individual cannot always fulfill the conditions under the contract. Life goes on, a person's circumstances change: dismissal from work, divorce of spouses, illness. A restructuring of a loan in a Sberbank may be provided to an individual. It greatly facilitates the procedure for returning a debt to a bank in a difficult financial situation.

Restructuring should not be confused with refinancing. Refinancing is the issuance of a cash loan by Sberbank to repay loans taken by an individual in other banks. The purpose of refinancing is to combine several loans into one or to reduce the interest rate on previously issued loans.

What is it - loan restructuring in Sberbank?

An individual is granted the right to restructuring.

This is a set of actions established by the bank in relation to the borrower, which entails the return of the loan by the client without prejudice to his financial situation. Restructuring is a decrease in the interest rate of a loan, the frequency of payments and an increase or decrease in the duration of a loan.

Types of loan restructuring

What are the types of loan restructuring in Sberbank? An individual is given the opportunity to choose:

- Exemption from paying the principal on the loan, the borrower pays only interest - credit holidays. In some cases, the exemption is for the entire amount of payments, but applies to a certain period. In this case, there are also disadvantages: the borrower is threatened with an overpayment on the loan due to an increase in the duration of its repayment.

- Non-accrual or write-off of fines and pen alties that arose as a result of late payment of the debt.

- Reducing the amount of monthly installments by extending the term of the loan.

- Establishing an individual payment schedule for the borrower to simplify repayments. This can be either a postponement of the payment date, or a reduction in contributions in certain months.

Terms of loan restructuring at Sberbank

How is a loan restructuring carried out at Sberbank?

An individual should be aware that the decision on debt restructuring is made by the bank. Under certain conditions, Sberbank provides debt repayment assistance to its borrowers. The Bank has the right to consider the application fordebt restructuring in the following cases:

- First of all, this is a loan overdue for more than 30 days.

- Loss of the main type of income - dismissal from work.

- Situations that entail additional unplanned expenses of the borrower - disability, illness, death of a relative.

- A number of valid reasons (loss of additional types of income, pregnancy, loss of a breadwinner, enlistment in the army, etc.).

- Death of the debtor. In such cases, the heir is provided with a loan restructuring at Sberbank. Is it possible to issue it and what is needed for this?

Application for restructuring

Application-questionnaire can be filled out both at the branch of Sberbank, and download the form on the website, fill it out and send it by e-mail. It must necessarily indicate the reasons for the restructuring, the types of income for repaying the loan on new terms, the object of collateral to secure the loan (if any). After a short period of time, the borrower will be called from the bank and invited to a specific branch to discuss the further process of cooperation. A specialist is assigned to the debtor, with whom further actions and a list of necessary documents are discussed.

Documents for restructuring

Documents must confirm the difficult financial situation of the borrower:

- Employment record with a record of dismissal.

- Documents confirming the deterioration of the financial situation: an order or a copy of it to grant leavea woman for pregnancy and childbirth, an order or a copy of it to provide leave without pay.

- Disability certificate, disability information.

- Income statement.

- Passport of a citizen of the Russian Federation.

The list of documents is individual for each specific case. When submitting an application, you need to most accurately describe the financial situation to the bank employee. It should be remembered that the decision on restructuring is made by Sberbank, and an individual does not have the right to challenge the rejection of the application by the bank. The submitted documents are being checked. Then the approval decision is made. This is what loan restructuring means at PJSC Sberbank. Conditions must be clarified at the department.

Credit card restructuring

Credit card is the most convenient form of shopping. If you do not pay off your credit card debt on time, interest will accrue on the balance of the loan and the amount of debt will grow. With a positive decision to restructure the credit card debt, the client may be offered the following conditions: postponement of the loan repayment period; breakdown of interest and principal debt into equal payments; increasing the repayment period of the loan by reducing monthly payments.

Restructuring a mortgage loan at Sberbank

An individual is given the opportunity to restructure a mortgage loan. The property is a pledge for the bank, so the bank bears no risksloss of your funds. If the client stops making payments, the credit institution will sell the property and return their money.

For the borrower, there is a risk of losing payments that have already been paid on the mortgage. The term for restructuring a mortgage loan is long. The bank may refuse to installment payment, arguing the refusal of the client's insolvency. The client must insist on the provision of this service by the organization, as this is the best way out for the borrower.

Reviews

Reviews confirm that violation of the terms of the loan agreement entails the imposition of fines and pen alties. To avoid an increase in debt, the borrower takes steps to restructure the debt. In this case, the loan amount becomes larger, but the increase in debt is much less than the imposition of pen alties and interest.

Customers are satisfied with the possibility of restructuring. It allows you to avoid the appearance of bailiffs on the threshold of the apartment with a decision on confiscation of property, thanks to this service, you can get rid of calls from collection agencies, and also avoid bad credit history. Early repayment of the loan after restructuring is not prohibited.

Now it has become clear how to restructure the debt on a bank loan.