Georgia Loan Advice

Pay nothing – what to do?
Financial crisis’ auknulos “most strongly to those in the happy pre-crisis time ponabral loans. To pay the bills become difficult, people massively reduce significantly the percentage of “problem” loans.

So, you know nothing about the upcoming global financial crisis, took out a bank loan to purchase: apartments, cars, washing machines, telephones, a denture to Tiffany’s – this is not so important.

But suddenly:
You fired;
Your revenues have fallen so much that is barely enough for a family.

In short, pay regular bills coming nothing.

What?
Strikes on the run from just should not. And forgetting that you told the bank’s employees in the processing of a loan, and extremely carefully read the loan agreement. If for you it is difficult to contact an attorney. Thus, you’ll know exactly what you are fraught with late payments.

Let’s look at a few examples:
Car
In most cases, the subject of the pledge in favor autocredit car . Vehicle Title is held by the bank until the full repayment of the debt. The deposit acts as insurance for the bank, that is, to a large extent guarantee the return of spent funds. And if you become insolvent, the bank simply will select a car.

But take something you do not to pay the bank. What can be done, if you believe that the financial problems at any given time?

- Write a letter to the leadership of the bank where the need to provide reasons for your problems and ask for deferment of payment of the loan. In this case, the mere fact that you are not trying to equivocate, and applying to a lender for assistance, is playing in your favor. And also says that you do not belong to bad people, and strive to deceive gullible bank.

- If the bank went to meet you (and it is quite likely), you just have to urgently address their financial issues. But the bank may refuse. And in this case, get ready for what you counted on the full program.

- And here is the time to think about this, the most humane in the world court.

Fear should not be – no one you can not eat. Also, do not at the meeting to irritate the judge remarks like: “I will not.”, “This is outrageous!” I.t.p. Honestly, and calmly explain the essence of the situation – “… paid regularly, not shirked, problems, addressed to the leadership for help – denied. And all.

Rather, the court will take pity on the unfortunate borrower, and reduce the size of the penalty. But he can not reduce the amount of the overdue payment – this is your voluntary commitment. If you want to gain time, or court decision is not in your favor, you can appeal his decision in a higher court.

Among other things, the legislation provides for deferral or installment of execution of the court ( p.1. Art. 203 HPA RF ). And there is the possibility for some time nothing at all to the bank not to pay.

Mortgage
The peculiarity of this type of loan is that the subject of the loan (real estate), always acts as a mortgage bank. With all the attendant.

Therefore, in the first place it is recommended to resolve all the points, without waiting for a subpoena. By the way, if your dialogue with the bank to nothing brought, the court, strangely enough, can help you.

The current law “On mortgage”, contains a rather interesting situation, which states that if the violation suffered slightly, and the amount of loss is not commensurate with the total value of the object, then the satisfaction of penalty may be denied.

An exception may be if you regularly violate the terms of the contract. Given this fact, and that the court often goes to meet the borrower, the chance to regain their property is quite good.

Especially if the “Object collateral – the only place of residence of the borrower.” Of course, this does not relieve you of the commitments, but also provides an opportunity to gain time to solve financial problems.

With regard to consumer loans, the system address is almost identical to that described above all. In the case of justifiable reasons, the court might listen to your request, and postpone the execution of penalty of up to one year.

Of course, if you yourself decide all the issues with the bank.