Application for loan restructuring

Statement

"___" _______________ 201__ between me, ___________________________ and Home Credit and Finance Bank LLC entered into Loan Agreement No. _________ on the following terms: loan amount _____________________ (amount in words) rubles for the period (term of final repayment of the loan) “___” __________________ 201___ Interest rate on the loan _______________ (in words) interest per annum, intended use: consumer loan.
Since “___” _______________ 201__ my financial situation related to ______________________ (detailed reason), as a result of which I became unemployed.
Copies of supporting documents are attached to the letter.
Throughout the term of the Loan Agreement, all payments were made to the Bank on time. In total, __________________ (amount in words) rubles were paid. Based on the above, I ask you to restructure the debt under loan agreement No.___________ dated “___” _____________ 201__, and consider the possibility of:
1).Provide vacations for ____ months;
2).Reduce size interest rate;
3).Prolong the amount of the principal debt for a period of ______ years, changing the final repayment period of the loan;
4).Taking into account the changed circumstances, I can repay the loan monthly in the amount of _________ (amount in words) rubles.
If my financial situation improves, I undertake to repay the loan before the extended period.

Signature (as in a passport)
"___" _______________ 201__

Please send your answer to:
city ​​_______________, st._________________, house___, apt. ___.
tel: +7___________

Officially about loan restructuring.

Loan restructuring implies a review by Home Credit Bank, at the request of the borrower, of the terms and procedure for repaying the loan. They are resorting to loan restructuring, when the borrower, for example, is no longer paid wages on time and he can no longer repay the loan on contractual terms. And if you decide to take out a loan from Home Credit Bank, you need to find out in what cases and under what conditions Home Credit Bank, if necessary, will restructure your debt.

Loan restructuring is a change in conditions loan agreement Bank Home Credit(for example, changes in interest rates, terms, payment schedules, etc.). The restructuring is formalized by concluding an additional agreement to the existing loan agreement. And in order for Home Credit Bank to carry out debt restructuring, it is necessary to provide compelling arguments that this is extremely necessary for the borrower.

If the borrower does not have any particular financial difficulties, and he needs restructuring solely to redirect financial flows, then the bank will refuse this procedure. You should not try to deceive a credit institution - Home Credit Bank will still find out whether the purchased property is the borrower’s only place of residence, or for him it is just a successful investment. In the first case, the bank will accommodate the borrower halfway, but in the second, restructuring is unlikely.

Restructuring will definitely be denied to persons with bad credit history. Restructuring credit debt is possible only in relation to conscientious borrowers who have real, and not fictitious or exaggerated, financial difficulties.

To begin the loan restructuring procedure, an application to Home Credit Bank from the borrower is required. Restructuring a loan debt does not spoil the borrower’s credit history. On the contrary, the ability to recognize one’s financial difficulties and taking the first step to resolve them characterizes the borrower as a responsible person. Restructuring does not mean that the borrower abandons its obligations - it still undertakes to fulfill them in full to the bank, but on slightly different terms.

The application to Home Credit Bank must be accompanied by documents confirming the presence of objective problems: this can be a certificate from the employment center or a document on dismissal, a certificate from work about a decrease in income, a certificate from a hospital, etc. Then, during negotiations between the borrower and the manager, the most suitable loan restructuring option for the given case is selected.

The restructuring procedure cannot be delayed. It should be remembered that if there are repeated delays in paying the debt, Home Credit Bank will charge penalties and fines, and if payments do not resume, the bank will foreclose on the pledged property through the court (or involve the guarantor in paying off the debt).

The borrower's application for loan restructuring must be accompanied by documents confirming difficulties in his solvency. May also require additional documents:
-copies of all pages of the borrower’s passport, as well as copies of all pages of the passport of his family members (if any)
-copies of all pages of the work book
-a certificate from a credit institution indicating the amount of the remaining debt and debt, the repayment period
- a copy of the loan agreement with all additional agreements (a copy of the mortgage note - if any).
After introducing everyone necessary documents, bank employees will look for the most suitable loan debt restructuring option for the given borrower.

There are several restructuring options.

1). Increasing the loan term or extending the loan agreement. This is one of the most common types of restructuring. In this case, the monthly payments are reduced by extending the payment period. This method is beneficial for both parties - for the borrower monthly payment immediately reduced to 25%, and the bank, based on the totality of payments, receives an even larger amount of payments, albeit for a longer period.

2). Credit holidays. This option loan restructuring involves paying only interest on the loan, and payments of the principal amount of the debt - the “body of the loan” - are postponed for a specified period. There are two options here:
- the borrower is exempted from paying the “body of the loan” for a certain period of time so that in the future the remaining amount will be evenly distributed over the agreed period;
- the borrower receives a deferment with a simultaneous increase in the loan rate. This option is, of course, extremely disadvantageous for the debtor.

3). Currency replacement. In this case, the currency of debt payment is replaced from the dollar (euro) to rubles. However, it must be taken into account that the exchange of debt from dollars (euros) into rubles is carried out at the market rate. Due to the fact that in this case the frequently changing exchange rate is of great importance, this method of restructuring is not very popular and Home Credit Bank uses it quite rarely.

4). Changing the interest calculation scheme. You can repay the loan different ways: either in equal payments (annuity) or in monthly decreasing amounts (interest on balance scheme). When restructuring a loan, you can replace one option with another - if the borrower considers that it is beneficial for him.

After reviewing the application for restructuring, Home Credit Bank specialists will contact the borrower to set a date and place for signing an additional restructuring agreement. If there is a co-borrower (guarantor) on the current loan, restructuring is possible only with his written consent. New lending terms come into force from the date of signing the relevant additional agreements.

An alternative point of view on loan restructuring.

Very often, borrowers who cannot pay their current loan are faced with a bank proposal to restructure the loan. To help the borrower, the bank offers to close the old loan and open a new one instead, on different terms. On the surface, everything seems fine, but is loan restructuring really beneficial?

What is loan restructuring
Restructuring involves the bank giving you new loan to pay off the old one. At the same time, you will not see any money in person: in fact, the papers will show that the bank issued a new loan and thereby repaid the old one. Typically, restructuring involves extending the loan repayment period in order to reduce the burden on the debtor.

Loan restructuring actually.

In words everything looks beautiful, but in reality everything is far from being so. The fact is that if you are offered a loan restructuring, then most likely you are already a problem client of the bank. And problematic clients are unlikely to be offered favorable conditions: in fact, during restructuring, the interest rate and the amount of the penalty are noticeably higher than in the old loan.

A simple example. Let's say you took out a loan for 100 thousand rubles at 15% per annum for 5 years. The monthly payment will be 2394.12 rubles. Total amount to be returned to the bank (debt + interest): 143,647.16 rubles. You paid regularly for two years (this is approximately 57,400 rubles), then you stopped. After 2 years, the remaining amount of the debt was 70282.68 plus a penalty. For definiteness, let’s take the total amount of debt for 75 thousand rubles.

Now the bank is offering you loan restructuring. Restructuring involves issuing a new loan in the amount of 75 thousand rubles (to repay the old loan). Let's say a bank offers a loan for 5 years, but at 25% per annum. The new monthly payment will be 2222.48 rubles, which is slightly less than the previous amount. But keep in mind that at the same time your interest rate has almost doubled and the loan term is again 5 years. As a result, you will pay 133 thousand rubles to repay the restructured loan.

What is the result? As a result, you repay a loan in the amount of 100 thousand rubles in 7 years (2 years for the first loan + 5 years for the second loan). During this time you will pay 190 thousand rubles, which is almost twice the original amount of debt. At the same time, repaying the first loan without restructuring, you would pay 143 thousand rubles, that is, the difference of 47 thousand is actually the “cost” of restructuring. At the same time, the difference between monthly payments of 2394.12 (initially) and 2222.48 (after restructuring) is not so noticeable, right?

Loan restructuring in simple words.
To put it simply, restructuring only makes your situation worse. Yes, the monthly payment is slightly reduced, but the loan term and the amount of debt increase. Therefore, I do not recommend using loan restructuring.

Why do banks offer restructuring?
The answer is simple: it is profitable for the bank. Not to the borrower, but to the bank. In essence, he closes the old problem loan, while issuing a new one with more onerous conditions. Besides this great way“fix” the amount of the penalty. In the article about the bank’s appeal to the court, I already wrote that the court often reduces the amount of the penalty, since the penalty is disproportionate to the consequences of the violation. In this case, the bank places the entire amount (loan body + interest + penalty) into a new loan, thereby protecting itself from a possible reduction in the size of the penalty.

Application to Home Credit Bank for loan restructuring

Debt restructuring– a measure applied to borrowers who are unable to service their debt. This is an opportunity for the bank to avoid legal costs. Only penalties and fines can be written off. This implies:

• changing the timing and amount of payment;
• exchange of debt for a share in property;
• writing off part of the debt.

There is NO debt restructuring at Home Credit Bank, but the bank can provide you holidays, you can also contact financial mediator on the bank's website.

Loan refinancingor refinancing - obtaining a new loan, on more favorable terms, for full or partial repayment previous one, can occur both in the previous bank and in some other one. Not all banks refinance their own loans.

For regular customers Home Credit can offer obtaining a loan at more favorable rates conditions. You can find out about this by calling the contact center 8-800-700-800-6 and check the availability of a personal offer.

Refinancing helps reduce the interest rate on the loan, increase its terms and change the amount monthly payments, change the loan currency, and also, if the borrower has several loans issued in different banks, replace them with one.

To obtain loan refinancing from a bank, you need apply in the office or on the bank’s website. If the new loan is more than the amount required to repay the old loan, the remaining amount is used at the borrower's discretion. It is worth refinancing only if the difference in loan rates is at least 2%. You also need to find out whether the previous bank charges a fine for early repayment, and all the costs of processing refinancing in a new bank, find out whether the bank has a moratorium on early loan repayments. If yes, then only after its completion can you refinance the loan. If the loan agreement contains a ban on early repayment, you will not be able to refinance.

To apply, you will need to provide the bank with the following documents:

• Russian Federation passport;
• Driver's license, or pensioner's ID, or an international passport, or an insurance certificate from the State Pension Fund;
• A valid loan agreement from another bank;
• Monthly repayment schedule;
• A document about your solvency (salary statement for 6 months, or a PTS in the name of the client, or a CASCO insurance policy, or a foreign passport with a note about your stay abroad for the last 12 months, or an original and a copy of ownership of any real estate);
• Certificate about the amount of debt on an existing loan

It is worth noting that restructuring will not be approved for everyone if you often experience delays or may experience deterioration financial situation, you may be refused. You will not receive the money in your hands, the bank itself, within 5 days, will transfer the required amount for the old loan (to another bank) and then you will repay the loan to Home Credit and Finance Bank LLC. At the moment, the refinancing rate is 19 , 9% for 12-60 months from 50,000 to 500,000 rubles. Need to say, NOT THE MOST FAVORABLE CONDITIONS.

Credit holidays

If you get caught V difficult situation , then you can ask the bank holidays for payments, to do this you need to come to the bank office and write an application in free form, indicating your full name and date of birth or contract number. The review time is 5 days.

To resolve issues regarding payment of debt under a loan agreement, please contact the overdue debt department by phone 8-495-785-82-26 or 8-800-700-80-06. Also, due to a difficult life situation, you can contact the Home Credit Bank office and write an application, which will be considered individually.

Exact information about the fine under your agreement can be obtained by calling the collection department number 8-495-785-82-26.

If the loan is insured

If you have job loss insurance, That Insurance Company will repay the loan for a certain time (the size limit is specified in the contract), provided that you got laid off or if you lost your job for reasons beyond your control or your employer’s (for example, the death/ruin of the employer; there are many more of them than you can imagine, be sure to look at the documents you have or on the bank’s website). If you quit on their own initiative, then the insurance company in this case will not pay anything for you.

By applying for a loan from a bank, the borrower is confident that he will be able to repay it regularly and on time, without delays. However, the loan term is often several years and anything can happen. We will tell you in our article how to get a deferment of loan payments and not become one of the worst defaulters.

Good reasons

So, you received a loan, paid it regularly, but the time came when you were unable to pay the next payment and turned to the bank in order to get a deferred payment.

The reasons can be completely different: from simple reluctance to part with your money to compelling, valid reasons.

Dear readers! The article talks about typical ways to resolve legal issues, but each case is individual. If you want to know how solve exactly your problem- contact a consultant:

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Good reasons why a bank may accommodate you and grant you a deferment include:

• Time delays wages. In this case, the borrower must bring confirmation from the place of work signed by the head and chief accountant of the enterprise (organization) and certified by the seal of the enterprise (organization). It is desirable that this document stipulate the terms for resuming the regularity of salary payments.
• Loss of a job. In this case, the borrower must provide the bank with a work book or a copy indicating the last place of work and dismissal. It is also necessary to provide documents indicating that the borrower has registered with the labor exchange and is looking for work. This also applies to the loss of the position of the borrower’s spouse, because family budget has now decreased sharply.
• Birth of a child. This applies to both women (going on maternity leave) and men, because when a child is born, the family budget is now spent mainly on the needs of the child.
• Sick leave. Although few banks consider this a valid reason. In case of prolonged sick leave, the borrower provides relevant medical certificates.
• Death the borrower or his relatives.
• Force majeure related to natural disasters, fires, etc.
• Forced relocation to another area and change of job.

How to get

If you have one of the above reasons why regular loan payments cannot be paid, then you simply need to get a loan payment deferment.

Contacting the bank

First of all, you should immediately contact the bank. There you need to calmly, without unnecessary emotions, report that you are not able to pay the loan and write an application requesting a deferment of payment on the loan, indicating the reason for your insolvency.

Managers will give you a list of necessary documents that will need to be collected so that the bank’s credit committee can consider your application and make the right decision.

As a rule, the bank accommodates conscientious clients who, without waiting for the delay to occur, asked for help.

Documentation

Documents confirming valid reasons for obtaining a deferment may be:

• certificate from place of employment about recent income 6 months;
• for individual entrepreneurs – income reporting for 12 months;
• photocopy of the work book;
• certificate from the place of work about arrears of wages;
• certificate from the employment center;
• sick leave;
• child's birth certificate;
• death certificate and other documents at the discretion of the bank.

Options for solving the problem

Based on the reason for the decline in solvency, the Bank can offer its borrower several options for deferring loan payments. This could be the provision of so-called “credit holidays” or loan restructuring.

Credit holidays are an opportunity for the borrower to take a break from loan payments.

For example, when applying for a mortgage loan from Sberbank, they stipulate the possibility of deferring loan payments for 3 years upon the birth of a child. Home Credit Bank also provides credit holidays, if the borrower provides evidence of the temporary nature of financial difficulties.

Restructuring

Loan restructuring is certain actions of the creditor in the field of changing the terms of repayment credit debt aimed at facilitating the repayment of monthly loan payments.

Most often, debt restructuring means increasing the loan term, due to which mandatory monthly payments will decrease and the borrower will be able to pay the loan without any difficulties or delays.

Restructuring can be provided in several options:

• New calculation of loan payments, i.e. payments are calculated in such a way that maximum amounts repayments occur at the end of the loan agreement or in the middle, and at the beginning the payments are very small.
• New interest calculation, i.e. At the beginning, the loan rate is reduced so that payments are lower, and towards the end they are increased, thereby maintaining the average rate specified in the contract.
• Changing the term of the loan agreement– it is increased so that payments are lower.
• Cancellation of penalties for late payment of a loan.
• Temporary suspension of interest accrual, but with the condition that the body of the loan will be repaid.
• Issuance of a new loan to repay the existing one, only on new conditions under which the borrower will be able to pay the loan without delay.

Restructuring often takes place mortgage loan. This is due to the fact that the loan amounts are large, and the payments are correspondingly large, even despite the long loan term.

If the borrower insists on debt restructuring, then he should know that the total amount of interest paid to the bank will increase significantly due to an increase in the number of payments.

Also, as one of the options for debt restructuring, the bank may consider reducing the interest rate on the loan, but this is an extremely rare occurrence.

Many banks, such as VTB24, Renaissance, Sberbank, offer their clients to take advantage of this program to get out of the borrower’s difficult financial situation.

Video about obtaining a loan deferment

What are the risks of a conflict with a bank?

If you are unable to pay the loan, but do not meet the bank halfway and do not inform it about this, but hide and ignore calls and requests for repayment, then it is worth knowing how all this can turn out for you.

• Calls. In the first month after the next payment is not paid, bank employees will call you asking you to repay the loan.
• Notifications. Then you will be sent written notifications that you have an overdue debt and need to pay it off, otherwise the bank will be forced to collect the debt through the courts.
• Collectors. If this does not help, then your credit file will pass into the hands of collectors or the department for working with overdue debts.
• Court. After numerous intimidations from debt collectors, your case will be sent to court for further sentencing. As a rule, court decisions are made in favor of the Bank.
• Bailiffs. By court decision it will open enforcement proceedings, according to which employees of the executive service will perform judgment: describe property, sell at auction for next to nothing, withhold payments from wages, etc.
• Criminal liability. The borrower may also bear criminal liability under articles “Fraud” if it is proven that he did not plan to repay the loan from the very beginning, as well as under Article 177 of the Criminal Code of the Russian Federation, which provides for imprisonment for up to two years.

To summarize, we can say that if you know that you will not be able to repay the loan regularly in the near future, you should immediately contact the bank about this. If the difficulties are due to valid reasons and are temporary, then bank employees will definitely help you get out of this situation and not get into a debt hole.