How to deal with a bank loan in a crisis

Instruction
There are several possible options for action. Each of them has its positive and negative sides. You can early repay the amount of debt and interest by taking a loan from another bank on more attractive terms. But if in the future there is no prospect of a leveling out of the financial situation, the loan in the second bank will also hang above you with a Damocles sword.
Simply try to negotiate with the bank. Do not hide from the staff, come to a meeting, discuss possible ways to repay the loan. The bank can restructure the debt, extend the payment term, reduce the interest rate, not apply (or cancel the existing) penalties for late payment. Remember that the bank is better to get at least something from you than nothing at all.
If it is not possible to agree, the bank does not want to make concessions, the question remains to be settled in court. The procedure itself is not pleasant, it takes time and nerves, and the courts in most cases decide in favor of the plaintiff (that is, the bank). But perhaps this way will be the only way for you to get a break.
During the trial, interest and penalties on the loan are not charged. After the court makes a decision, the amount specified in the writ of execution is final. Ask the court to reduce your debt, the court may do so. Refer to your financial inconsistency, submit income certificates, that children or other persons are dependent on you to prove that you are not able to pay the full amount of the debt.
After the court decision you have to communicate with the bailiffs. Of course, they have the right to describe, withdraw and sell your property to cover the debt, but if nothing is drawn up to you, the only thing left for them is to impose a penalty in a certain percentage on your sources of income. Considering the Russian realities, the official salary of people is always less than the actual, therefore, if 25-50 percent of it will be withheld, money for life will still remain.
You can also wait patiently for the expiration of the limitation period, after which the bank may not file a lawsuit against you. This period is three years after the last payment made (call, meeting with bank employees).


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