What will happen if you do not pay the loan

2024 Author: James Gerald | [email protected]. Last modified: 2023-12-17 14:00

As a rule, clients, when applying to a bank for a loan, plan to make payments on time and fully repay the debt within the period specified in the agreement. But there are situations when the borrower, for some reason, cannot make contributions, so many are interested in what will happen if you do not pay the loan.

Bank actions

In the absence of payments, employees of a financial and credit institution notify the borrower of the need to repay debt obligations, sometimes accompanying their requests with threats of penalties. The bank may even demand an early repayment of the entire loan amount, which becomes unfeasible for the borrower in a critical financial situation.

In such a situation, the client needs to know that the creditor has only the right to remind and notify. He has no other authority to collect debt. Some banks are starting to intimidate debtors by threatening to be blacklisted.

The presence of delinquencies leads to a deterioration in the borrower's credit history. And this means that a person is recognized as unreliable, and when applying to another financial institution, he may have problems obtaining a loan.

In addition, the following consequences await the borrower:

1. The amount of fines and penalties will grow.
2. Bailiffs or collectors will be involved in the debt collection procedure. In the first case, it is possible to seize personal property or bank accounts of the borrower.
3. The lender will begin to demand repayment of the loan from the guarantors (if any).

If, after a certain period of time, the client has not paid the missed installments, the bank will charge a forfeit. Penalty interest can be calculated in different ways, depending on the provisions of the loan agreement:

• as a fixed amount;
• by the size of the percentage of the amount of the resulting debt;
• in the form of a fixed amount that increases as the next debt appears;
• combined penalties - percentage of debt + fixed amount.

What will happen if the debtor still refuses to pay the loan: the financial institution will have to resort to more radical methods, which will negatively affect the borrower's credit history and complicate further relationships with the lender.

The bank files a claim in court

If you do not pay the loan, the financial institution has the right to go to court with an application for enforced collection of the debt in full, including the amount of penalties and fines. If the judicial authority makes a decision in favor of the plaintiff, the duties of collecting funds are assigned to the bailiff service.

In this case, the debtor is deprived of the right to leave the borders of Russia until the moment, until he extinguishes his obligations to the creditor. The limitation period for this type of appeal is three years from the date of the debt.

If debt obligations are transferred to collectors

The majority of creditors use such an unpopular measure as debt collection through debt collectors. This happens, as a rule, if the creditor considers the debt to be hopeless.

Such agencies work more rigidly and sometimes use methods that are not the most pleasant for the debtor. Every borrower faced with such a situation needs to know that the following actions of collectors are prohibited by law:

• damage or destruction of the debtor's property;
• threat or use of physical force, threat of harm to health or murder;
• psychological pressure that offends and degrades one's dignity;
• using methods that are dangerous to the life and health of the borrower;
• transfer of information about the borrower to third parties (posting data via the Internet, informing the employer, etc.);
• misleading the borrower regarding criminal prosecution, the amount of debt, referral of the case to the courts.

In addition, the legislation of the Russian Federation restricts the actions of collectors regarding communication with a client:

• on weekdays, a service employee can call from 8:00 to 22:00, on weekends - from 9:00 to 20:00;
• telephone conversations are allowed no more than once a day, twice a week, up to eight times a month;
• personal meetings - no more than once a week.

Collectors are capable of exerting powerful psychological pressure, but they are deprived of all powers to seize property and recover. Therefore, do not give in to panic, but rather go to court.

If you do not pay a loan to Sberbank

Sberbank has developed a system for informing citizens via SMS: a few days before the appointed date of payment, the client receives a notification about the need to make payment before the specified day and in the specified amount. If you do not pay the loan on time, the bank will charge a forfeit.

In case of multiple missed payments, the debtor will have to pay the creditor a fine of 20% of the amount owed. Also, the bank may require early repayment of the debt in full or block the credit card, which does not mean complete release from the obligations undertaken. The loan and additional payments associated with its repayment will still have to be made.

Before going to the courts, Sberbank managers are trying to resolve the issue on their own. They contact the debtor by the specified phone number or e-mail. If the borrower avoids communication, legal action is filed.

At this stage, the contract and penalties are terminated. Most often, the decision is made in favor of the creditor, while the debtor does not need to be present at the meeting.

The borrower has the right to challenge the court's decision if he is willing to provide evidence of unintentional delay in payments (for a good reason). Such circumstances include:

• non-payment of wages;
• temporary disability;
• serious disease.

In this case, all accrued interest and fines will be canceled.

If you do not pay a loan at Tinkoff Bank

Tinkoff bank employees also inform the client about the existing debt and offer to pay it off within the specified time frame. Otherwise, calls are made to guarantors or employers with a request to remind the debtor of the obligations undertaken. At the same time, specific amounts and terms are not announced.

If an attempt to resolve the situation did not lead to a positive result, the bank can use the services of collectors or go to court. The second option is used when the amount owed exceeds 250 thousand rubles.

Litigation may result in the debtor being held liable for repayment of the loan, up to and including criminal prosecution. Therefore, it is extremely undesirable to bring the case to court, besides, Tinkoff is always ready to meet the client halfway and resolve the dispute out of court.

If you do not pay a loan at Rosselkhozbank

If the borrower refuses to pay monthly installments on the loan, Rosselkhozbank introduces penalties. With systematic delays, the following are possible:

1. Blacklisting a client, damaged credit history. All this will complicate obtaining loans in the future.
2. Bad reputation. After some time, the creditor transfers the debts to the collectors, and their actions are sometimes not entirely legitimate and affect not only the borrower himself, but also his relatives, colleagues, neighbors.
3. Proceedings in court. If a positive decision is made, the debtor will have to pay not only the amount of the loan and fines, but also pay off the legal costs.

Other credit institutions operate in a similar manner.

Summarize

1. When concluding a loan agreement, the client plans to make payments in full, avoiding delays.
2. In case of non-payment of the monthly amount, the lender is obliged to inform the borrower about the timing of the debt repayment and the amount of payment.
3. If the client ignores the bank's messages and does not take action to repay the loan, the company can seek help from collectors or to the court.
4. If a positive decision is made, the debtor undertakes to repay the loan in full, including the amounts of accrued fines and penalties. In addition, he will have to reimburse the creditor for legal costs.