The bank's license was revoked - how to pay a loan in this case

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

The Russian banking sector is currently going through a difficult period. According to the Deposit Insurance Agency, 243 credit institutions are currently in the process of liquidation. What should borrowers do if the bank's banking license is no longer valid? How to pay a loan to a bank with a revoked license? Do I need to repay borrowed funds?

Bankruptcy proceedings

If the Central Bank of the Russian Federation makes a decision to revoke the license for banking operations, the bank introduces external management. The bankruptcy procedure is administered by the Deposit Insurance Agency. After liquidation, all claims on loans are transferred to another credit institution.

Do I need to pay

One of the first questions that many people have when a bank's license was revoked: "Should I pay the loan?" The answer here is unequivocal - be sure to pay. Even if the licensethe bank is canceled, and he himself is declared bankrupt, the borrower is obliged to repay the loan received in accordance with the loan agreement and the payment schedule. The terms of the current loan agreement do not change when transferred to another lender.

Where to pay

If a bank's license was revoked, borrowers do not know how to pay a loan, since all accounts in this bank have already been frozen. According to the current legislation, borrowers must be notified of new payment details and that the bank's license has been revoked. Where to pay a loan and other relevant information is also often placed near the entrance to the branches of a closed bank.

Several options are possible:

1. The ideal option is to receive a notice of the liquidation of the bank indicating the methods and details for paying the loan. New payments on the loan are made according to the details received. The basis of the payment must indicate the number of the loan agreement and the bank that issued the loan.
2. You can search for information yourself. For example, information about the successor bank is often available on the official website of the former creditor bank or in the “Liquidation of banks” section on the website of the Deposit Insurance Agency. If there were no notifications that the bank's license was revoked, it is not known how to pay the loan, you can also independently request information from the temporary administration of the closed bank. To do this, you need to send a registered letter, preferably with a notification, with a request to provide new details for repaying a loandebt.
3. If the necessary data could not be found, you can pay the loan using the old details, be sure to keep all payment documents. However, this option is not very desirable, since the payment can go to the bank, but not be sent to pay off the debt. It is very likely that in this case, the new creditor bank will demand payment of the same payment again and you will have to prove your case in court.
4. Money to pay for the loan can be placed on the notary's deposit. The notary himself will have to inform the bank about the repayment of the loan. This service is provided by notaries for a fee.
5. As a rule, in the first month after the transfer of the right to claim a loan debt to another credit institution, a late fee is not charged. Therefore, if no bankruptcy notices have yet been received, as an option, you can wait for information about new details to appear. Information should appear on the website of the Deposit Insurance Agency on the 10th day after the opening of the liquidation procedure.

Differences for legal entities and individual entrepreneurs

If a bank's license was revoked, how to pay a loan to a legal entity and an individual entrepreneur? The algorithm of actions for borrowers when revoking a license is the same for individuals, as well as for organizations and individual entrepreneurs. Payments are transferred from a current account in any other bank using new details indicating the original creditor bank and the number of the loan agreement.

How the change of creditor is processed

When changing the creditor, an additional agreement is concluded to the current loan agreement on the change of persons in the obligation. If the contract is secured by a pledge, a change of the pledgee is also made. It is very likely that the successor bank will require a renegotiation of the collateral insurance contract, since the original lender is indicated as the beneficiary in the current insurance policies.

What to look out for

If the borrower found himself in a situation where the bank's license was revoked, how to pay the loan and what else you need to know so as not to receive additional expenses and other problems?

Sometimes the successor bank offers to sign a loan agreement with modified conditions or to pay off all existing debt ahead of schedule. Before signing a new contract, you need to carefully study the terms and make sure that they will be more profitable. If the borrower fulfilled his obligations under the loan agreement, he has every right to refuse and continue to pay payments according to the original payment schedule.

It is necessary to keep all correspondence with the original creditor bank and the successor bank, receipts for payment of all payments and other documents related to the loan agreement until the full repayment of the loan debt.

When information about the cancellation of the license appears, it is advisable to contact the bank and make sure that the last payments have been received to pay for the loan. It is best to ask for a certificate of absencelate payments.

Thus, if a bank's license was revoked, it's easy to figure out how to pay a loan. If you receive the necessary information in a timely manner and take the necessary measures, in the future, payment will proceed as before.