Credit cabal. Credit addiction: credit addiction, bondage - how to get out of the debt hole Stupidity, what kind of stupidity is this

The Russians have accumulated debts of 15.5 trillion rubles. According to the Bureau of Credit Histories, every fifth person in the country has one. Every second debtor pays three or more loans at the same time, according to MIR 24 correspondent Nadezhda Serezhkina.

“TV - 60 thousand, curtains - about 20 thousand. Well, it took us 250 thousand for the entire renovation of the room, ”said the debtor Tatyana Fondeeva. Also a laptop, a coffee machine, a phone of the latest model, and all this on credit. For three years, Muscovite Tatyana owed banks one and a half million rubles. She has six credit cards, a smartphone in installments and nothing to pay her debts: a month ago, a woman lost her job. “You take, you take. Money is easy to spend. Now I need to pay about 60 thousand monthly,” the woman complained.

Request a loan holiday - such advice is given to Tatiana by a personal finance consultant. Dismissal, illness, the birth of a child - these are the reasons why a bank client can delay a payment. If there are many loans, it is better to combine them into one so as not to overpay on interest. “The easiest way is consolidation. When we combine the debt load in different banks into one in one bank and, as a rule, on more favorable terms compared to credit cards,” explained personal finance specialist Svetlana Kostikova.

Another way out of the debt trap is to refinance. The debtor transfers the loan to another bank if it offers more profitable terms. However, only a client with a clean credit history can receive the service - without fines and delays. If the bank refused, we choose another tactic. “We sort loans by size and pay the smallest one first. Then there is a feeling that you are getting out of this monthly race: which card to withdraw from, which one to deposit, how to refinance,” advised Sergey Makarov, Deputy Director of the National Center for Financial Literacy.

“Today, my debt is five million 870 thousand rubles. This has been going on for about five years, ”said the debtor Alexander Valkov. Living within your means is everything Siberian Alexander dreams of. Six years ago he founded construction company. He took out a large loan for business development, worked with foreign clients until the crisis hit in 2014. “At first there was one loan, it seemed to be pulling. But then this story: you think, I’ll take another one now, maybe something will change. You invest it, re-cultivate it into some kind of profit, but in fact you can’t even cope with the first one. You start taking more. This is a classic of the genre,” said Alexander.

An apartment, a car - all the property of Alexander and his family is under arrest. There is only one way out: declare yourself bankrupt. “Fix losses. Understand that there is no way out of this situation, that legal means it is impossible to earn money to pay off obligations,” said arbitration manager Leonid Karetnikov.

Experts urge: before taking a loan for any amount, calculate the risks. This is the only way to save yourself from living on loan. "Use your money, don't rely on credit cards because they are addictive,” Tatyana wished. “In nine months, I hope I will be a happy person with a zero balance sheet. And bad credit history. They will never give me a loan again, and in fact it is very cool, ”said Alexander.

A large number of banks and an even greater number of all kinds of microfinance organizations offering loans for any amount and any period, from a small loan for a couple of days to a loan to buy an apartment for 25-30 years, competing among themselves for borrowers, have significantly simplified the opportunity receiving loans. As a result, many people, especially people who do not even have the basic basics of financial literacy, without thinking about the prospects for repaying these loans, fell into credit bondage.

Here is today's guest of the magazine Reconomica Andrei found himself in such a situation and wants to tell you his story of what not to do if you are going to take out a loan.

My name is Andrey, I am 46 years old and I want to tell you my story of what NOT to do if you are going to take out a loan.

I was about 30 at the time I got in touch with credit hardships. A beautiful wife, a favorite job and everything seems to be fine, everything is in order, and nothing could portend trouble.

Life is such a thing that you don’t know how everything can turn out, at what point it will give you a cuff, and maybe a kick so that you don’t relax.

I want a car

My wife and I decided to buy a car. We had some funds set aside, not enough to the full amount of 80,000 rubles, but we wanted to have a car now, and what a good option - a discount when buying for cash, and a lot of different offal.

I took the car used. I want to note that I have never had a car, so, apparently, all these little things bribed me.

Borrowing was not an option - the crisis, all the cases, people without money, and many without work. We decided to take a loan, we were sure that we would quickly pay it off, without any problems.

Loan at Russian Standard Bank

I came to the Russian Standard bank. Smiling girls quickly took me into circulation, because I did not know anything about loans, I never took them and was not interested in the intricacies.

I came to the Russian Standard bank.

The girl, an employee of the bank, began to speak quickly, explaining all the "charms" of this product, showing a table of calculations, interest, monthly payments. To be honest, I didn't really listen to her. Only one thing was spinning in my head: give me money, and I went for the car.

Stupidity, what a stupidity!

I remember how they said about insurance that without it the loan will not be approved, it is necessary to draw up (by the way, the amount of insurance is not spelled out in the contract, I don’t remember that they voiced it). After I filled out the questionnaire, the girl said that I was approved for the amount of 100,000 rubles.

I agreed and only at home I realized my mistakes, and that insurance is not a separate amount that can be paid in a single contribution.

Insurance is added to the main loan and is also subject to interest, i.e. you get 100,000 + insurance = 126,923 rubles. And these 126,000 are already a loan on which interest is charged, and I wanted only 80,000 rubles. This is my most stupid joint, which they shoved me in the bank, or maybe I just let it all pass by my ears. I do not think. Some information is missing from the contract.

Loan agreement

I returned home, made my wife happy, but not for long: my wife looked at the contract and gasped. Our 80,000 rubles. turned into almost 127,000 rubles.

I agreed and only at home I realized my mistakes.

The data was like this:

1. The interest rate on the loan is 36% per annum.
2. The total cost of the loan is 42.58% per annum.
3. Loan term - 1156 days.
4. Amount - 126,923.40 rubles.
5. Insurance - 38 months.
6. Monthly payment - 5,650 rubles, of which interest - an average of 3,500 rubles, the rest - the body of the loan.
7. The total amount of payments is 213,670.99 rubles (not sickly, right?)

Penalties for missed payments:

• first pass - 300 rubles;
• second pass - 500 rubles;
• third pass - 1,000 rubles;
• fourth pass - 2,000 rubles.

A small excerpt from the payment schedule:

Fee: 5 650 rubles. Balance of debt: 126,923 rubles.

Fee: 5 650 rubles. Balance of debt: 124,778 rubles.

If you look three months ahead, then the balance is: 118,979 rubles. Practically the debt stands still. And the payment went through for 5 months!

And now see the insurance footnote: “Insurance of financial risks associated with the loss of a job by the borrower under the Loan Agreement is included: NO”.

This is the biggest mistake, for which I then paid the price. insurance premium, which was paid in a month, if desired, I took (about 20,000 rubles).

History with a miracle vacuum cleaner

Never, do you hear? Never let sellers of junk into the house! Better yet, don't open the door to strangers at all!

It takes about 4 months, and here it is, the finale.

The crisis in the country flared up, the reduction in work reached its climax, and I was fired. Getting home, I imagined my wife's face, how upset she would be, because she had to pay off the loan and urgently look for a job.

Two news awaited me at home: good and bad. I'll start with the bad. The wife came home early because of poor health. At that time, sellers of a miracle vacuum cleaner ran around the apartments. I think many have already guessed the outcome of the event. Yes, my wife got a loan for that Kirby supercar.

At that time, sellers of a miracle vacuum cleaner ran around the apartments.

Long disassembly with the company, contacting the bank about the cancellation of the loan did not lead to anything. The loan had to be paid.

Life is in full swing and everything is on the head

I'll start with the main thing - numbers, numbers ...

This loan was issued by OTP Bank.

• The amount is 110,000 rubles, despite the fact that the goods allegedly cost 125,000 rubles. But the wife made an advance payment, that is, the first installment.
• The loan was issued for 2 years.
• And here, oh horror, interest rate- 47.7% per annum.
• Monthly payment - 7,200 rubles. Of this amount, interest is 4,000 rubles!

Penalties:

• for the first pass of payment - 0 rub.;
• for the second pass of payment - 300 rubles;
• for the third pass of payment - 900 rubles.

In the general account, the loan cost 173,412 rubles. The same story - huge interest and a minimum of the main loan. “Life and health insurance of the borrower: NO.”

To say I was shocked is an understatement. My wife was crying, I comforted her. Litigation and scandals in the company, calls to the bank did not help.

At that time, I, a former manager of a former company, got a job as an ordinary consultant in a household appliance store. There was no salary, somehow it was enough to live on, two loans could not be pulled.

Went penalties, fines. I had to sell the car, of course, for less money. All the “charms” of a used car are that when reselling, the price drops significantly. Part of the amount we paid for loans, part - left for life. Loans paid less than necessary (in small installments).

From the Russian Standard Bank they did not bother, they did not call. The most relish was from the second loan.

Hell soon began

Problems increased with the second loan. The bank was not satisfied with the fact that we pay amounts less than the appointed monthly payment. Security calls started. We talked with a service employee, the man assured that it was possible to pay less, but the amount would not move, since it was only enough to cover the interest, the main thing was that the bank saw our payments, albeit small ones, and they would not pester us here.

Collectors called daily and 5 times a day.

Alas, after 2 months, collectors called on the home phone. The wife answered. They spoke rudely, did not want to listen to anything, were rude, threatened to come to the house to make a showdown. Called daily and 5 times a day. We did not immediately guess that this was a psychological attack. Having rummaged on the Internet on this topic, we came to the conclusion that they cannot harm. We decided not to worry about it, but my wife could not cope emotionally. The calls continued, and they called not only on the mobile phone, but even at the wife's place of work. But there were no particular problems here. Understanding employees and the head of the department simply answered: "This woman does not work here." We quickly fell behind.

The most interesting thing is that this organization winds up interest on your own loan. And now you owe not only to the bank, but also to the predators from the collection agency.

We tried to communicate with lawyers, but the answer was the same: "Pay." In the same period, the bailiff wrote to me on the social network: “Hi, Andrey. Finally, I found you. Come to such and such an address, we will deal with your debts. Russian Standard handed over your case to us.”

In life, the black stripe will always be replaced by white

The conversation with the bailiff was quite warm. Elena (that was the name of the lady in uniform) made it clear that there was nothing to worry about, we would close the debts and forget about it. She clarified with me how much I have and how much I can pay per month. I closed the balance of the loan within a year.

Here it was a huge plus that all interest, fines and penalties were cut off, and only the body of the loan had to be paid. And given that we have already paid a certain amount, then minus interest, and we had to close about 50,000 rubles.

The result of relations with OTP Bank

The result of relations with OTP Bank was as follows: they paid as best they could, received letters of "happiness" with threats. Neither the bank nor the collectors wanted to make concessions.

Life has become unbearable. They changed phone numbers. The wife went to visit her mother. I tried to somehow clear this blockage of lack of money and problems. This went on for about 4 months.

By pure chance, I found a job that completely changed our lives. I received an offer to move to another city. Without hesitation, we packed our things and boarded the train. Time passed and we got back on our feet.

Conclusion

Recalling this story, I want to say that we never closed the second loan. Many years later. I don't think they're looking for us anymore. Rather, due to the expiration limitation period(3 years), we are no longer interested in the bank. Apparently, this entry is not in the credit history, since the spouse has already taken 2 small loans, and she was not refused.

These papers are still with me.

But if not for all this red tape with collectors, if the bank did not put pressure on the patient, then everything would be fine. We would have paid this ill-fated, imposed debt. Not immediately, but they would pay gradually.

Yes, I realize that debts need to be paid, but why ruin the psyche of a person who is trying to somehow pay off?! From this, the loan will not close faster when pressure is applied from all sides.

These papers are still with me. I don't know why I keep them. Probably to tell you my story. Be vigilant, rely only on your own strength. Save, save, but do not get into a debt hole.

P.S. I forgot to mention the main thing: the good news, which I did not tell, is that we were expecting an addition to our little family. Most likely, it was this fact that kept me from stupid things and gave me strength to endure to the end.

A huge number of people in Russia have credit obligations. As you know, you take someone else's money, and give your own. What if you can't meet your credit obligations? We offer you several options to help get rid of credit obligations.

10 ways to get rid of credit obligations

The main thing to start with is to think about how serious the situation is and how you can get out of it. Initially, calculate how much money you took from the bank, how much you have to pay now.

You can make a table on monthly payments, enter everything into it, including spending on utilities and other expenses. Only after you have figured this out, proceed to resolve the issue.

• After everything is calculated, you need to understand that the option of not paying a fee is not the most successful. Even if you saw a large number of videos, where there is information on how to properly speak with collectors, representatives of the bank, you should not count on the fact that you will have everything as shown in the video. The best option in this matter will be re-crediting. It is better to choose the bank that offers the least amount of interest. Only in this way it will be easier to get out of credit bondage.
• Use the table where all the information is entered, only in this way you will see what costs can be excluded. As a rule, those who maintain a spreadsheet for 3 months reduce their spending by 3-10 thousand rubles, which can be paid to pay off the debt.

• All the "extra" money that you may have, make as payment on the loan. For example, if you were given money for your birthday, then deposit the amount received in the bank, so the loan obligations will become smaller each time.
• If you have the opportunity to make early payments, take advantage of this opportunity. But remember that money will not be written off on its own. Almost every bank requires a visit to the office and an application for early repayment.
• You can get out of bondage by selling unnecessary property. It is especially strange when a person has several apartments, but he does not pay loans. It is enough to sell some property and pay off the debt.

• A large number of banks offer loan restructuring. In this case, all loans are combined, the amount is calculated and payment is offered at the lowest interest. It is best to choose those loans for which the highest rates were. When you write an application, be sure to indicate a feasible amount for you and a convenient date for making the payment. If the bank has not lost confidence in you, then they will definitely meet halfway.

• Over the past two years, banks have been offering credit holidays. This is the option when you can take a deferred payment. But it is important to find out how repayment will occur in the future. The main thing is that after the end of the credit holidays you do not have to pay the entire amount that was not repaid during the holidays.
• If the purchased property is mortgaged, sell it. That way you won't have to pay for it. Of course, if we are talking about a mortgage apartment, then this option is most likely not suitable.

The financial mafia with the help of loans drives people into lifelong slavery
Issuance by banks of money at interest is a scam! Loans must be interest-free, and for the service you need to take the appropriate fee, but NOT interest! This is a deception that the financial mafia forced us to submit to...
Zero overpayment, the main thing - take a loan, take it without guarantors. Almost without a passport, they are ready to give a loan, if only you would take it, if only this mechanism would start. What is it for? Why are young people accustomed to loans? Marat Kharisov reveals the hidden mechanisms of enslavement of modern man.

What is the trap? If a person wants to buy some product, for example, a young man, he puts it off, puts it off, and this is another intermediate goal, and when he buys this product, he gets a feeling of joy that he deserved, worked and deserved a prize in this game. Let's analyze a different situation: he was given a loan, he bought this product, the first seconds of joy have passed, and now the torment begins. He has already received the prize, but he will have to give many, many more months, right? And the credit begins to act on him like a sucker, does not allow a person to move forward, pulls him back. He has already received, but in the future it is necessary to give. It turns out that there is no goal in the future, it has remained behind. Thus, a person has more energy for the product he bought. He was already robbed while he was making money, but now he will have to conduct double taxation. He will pay taxes in order to earn money and plus pay off the loan and plus pay interest. In fact, there is no joy, only problems. This product turns out to be much more expensive than it would cost him at the very beginning.
A particularly terrible loan is a mortgage at the moment, it is impossible to name it otherwise than 15 years with confiscation of property. Because 15 years, imagine, a person should not get sick. If a person misses 2 payments, only 2 payments, he loses the apartment and the money that he contributed there. And it is possible that he will lose both the apartment and the money, and still owe the bank. 15 years without getting sick, 15 years, suddenly he made a mistake, living with an unloved person, 15 years not getting divorced. An employer, when he finds out that an employee has taken out a mortgage, he begins to load him with a large amount of work, knowing full well that a person is in a slave position, he cannot afford to lose his job, otherwise he will miss one payment, then more penalties will go, and he will be more owe more.
Such a person cannot calmly leave to rest on vacation: the current payment will need to be paid, then you will need to pay a payment for the time you are on vacation. A person who drives himself into a very rigid framework cannot adequately rest. Those people who have taken out a mortgage, they are the slaves of the bank, they do not live, they practically exist from one payment to another payment. And many do not even fully realize what happened. A friend of mine bought an apartment from me on a mortgage, and I simply asked: "Whose apartment," he says, "is mine." I say: “Well, the certificate of ownership, where is it located? - In the bank". I repeat the question: “Whose apartment? - My". A simple thought does not even reach a person that this is the property of the bank from the very beginning, and he is only temporarily located there. He pays the rent for the bank, pays the loan, interest and the first time, especially the first years of mortgage payments, only interest is paid off, the rest of the body of the loan remains untouched. This is also a kind of deception. The banking system is very sophisticated at the moment, it has developed such a toolkit that the common man, in principle, cannot figure it out. And if he attracts specialists, then this makes his life even more expensive.

Giving loans is logical: a person has earned a surplus of money - and wants to lend it to another for a while, in exchange for a small percentage. is not it?
- To receive not earned is a sin. There was such a medieval scholar Ricardo, he substantiated usurious robbery as a business. One of the emulators, which is worthy, although all the religions of the world recognize that usury is a sin, the most terrible sin. Why? Because due to monetary influences on a person, people commit crimes, commit betrayal, life becomes unhappy. In order to justify somehow, all kinds of schools appeared and the school that justified this robbery better and received a certain bribe, payment for its services. Everything is like in a modern court: the issue is not considered in essence, but because of who will lie to the judge better, who will lie more professionally. There is nothing for a simple person to do there, because if you don’t know how to lie, if you don’t have enough money for an excellent lawyer who does it professionally, to the best of his ability. So it is here in life.
To receive interest on a deposit is, in fact, to stand on the lookout when there is a robbery, like in a gang. By receiving, you become an accomplice in the robbery of your neighbor. For us, money is energy, because we paid with our lives, our energy, and time. Credit, in fact, should be given without interest. Previously, if a family needed money, the head of one community turned to the head of another community and asked for help. Help was provided to him.
Naturally, it was a matter of honor to return. The head of the community returned with gratitude or some gift was presented. But it wasn't interest! In no case, because, as they say in Islam, for example, Allah allowed trade, but forbade interest.

A large number of banks and an even greater number of all kinds of microfinance organizations and credit cooperatives offering loans for any amount and any period, from a small loan for a couple of days to a loan to buy an apartment for 25 to 30 years, competing among themselves for borrowers, significantly simplified the possibility of obtaining loans.

As a result, many people, especially people who do not even have the basic basics of financial literacy, without thinking about the prospects for repaying these loans, fell into the so-called "credit bondage".

Today we will talk about what credit bondage is, how not to get into credit bondage, and how to get out of credit bondage.

I'll start a little outside the box - with advice on the contrary, that is, with what needs to be done to get into credit bondage.

What you need to do in order to get into credit bondage

1. Borrow as much money as possible from any bank or any microfinance institution. Take as much as you are given.
2. It is best to take loans from several organizations at once. Let there be as many loans as possible, because with this money you can buy so many things!
3. Never think about how you will repay these loans. Suddenly the bank will forget about you and will not demand money back.
4. Do not read the loan agreement and not be interested in what interest rate is provided for under this agreement.
5. Do not ask questions about the main terms of the loan agreement and not be interested in what loan payment you will have.
6. Do not compare loan payments with your income, and do not think about how you will pay on the loan if the money is suddenly not enough.

Of course, the reasons for falling into credit bondage are different. Yes, and it is impossible to foresee everything when obtaining a loan: anything can happen in life, and an injury at work, after which about normal wages you can not dream, and the loss of a job, and the appearance of a new family member, and just other circumstances that require additional and often unplanned expenses.

In order not to fall into credit bondage, there are a number of rules, the observance of which can protect you from problems with repayment of loans in the future.

How not to get into credit bondage

1. Before you take out a loan, consider whether you really need it. Maybe it's easier to wait a bit and accumulate the necessary amount of money ?! Of course, the choice of what is better, to save or take a loan, will always be yours.
2. Do not take a loan from the first bank you come across: be sure to study the loan conditions and compare them with other banks, and choose the most favorable loan conditions for yourself. And even more so, I do not advise taking loans from microfinance organizations, the interest rates on such loans are many times higher than the rates on similar loans in banks.
3. When choosing a loan, pay attention to the interest rate on the loan, the amount of the monthly payment on the loan, as well as additional lending conditions. Many banks practice the introduction of additional payments on the loan, for example, fees for obtaining a loan, borrower insurance, loan default risk insurance, financial guarantee, etc. All these payments end up adding to your debt load.
4. When obtaining a loan, be sure to compare your ability to repay it. That is, calculate how much money you receive, how much you spend on ordinary needs, and how much money you will have to pay off the loan. To do this, I recommend reading my articles: structure family budget and family budget planning for the month.
5. When planning a loan, in particular when determining the amount, term of the loan and the size of the loan payment, try to adhere to the basic rule: your loan payments should not exceed 30% of your income or the income of your family.
6. In no case do not take a new loan to pay off one or two payments of the main loan, this will only aggravate the situation and eventually form your own credit pyramid, from which it will be very difficult to get out.

Let me summarize: the ability to count, the ability to plan a personal or family budget, understanding the basic terms of a loan agreement and understanding where you will get money to repay a loan will protect you from falling into credit bondage!

What is credit bondage?

Credit bondage is the presence of one or more loans in a family, the possibility of timely and full repayment of which is limited or absent. In other words, if the borrower or the borrower's family actually does not have enough money to repay the loan, this situation can be safely called credit bondage.

Each fact of non-payment of the next payment on the loan entails penalties. The longer you do not pay on the loan, the greater the amount, due to penalties, you find yourself owing. Often, the amount of fines on loans can be several times higher than the debt itself under the loan agreement. The result is a vicious circle: there is no way to pay, and the debt is increasing, and every day the situation is getting worse and worse.

That is, before you take out a loan, think about how you will extinguish it!!!

A bank or a microfinance organization is not a charitable structure! They, like ordinary stores, sell you goods, only in the case of a loan, the goods are money. Money that needs to be returned, and returned with interest.

In most cases, people who either mindlessly took out loans, or simply did not consider whether they had enough income for monthly payments, get into credit bondage, hoping for a Russian “maybe” ...

Unfortunately, people begin to look for ways out of credit bondage and improve their financial literacy only after collectors or bailiffs knock on their house, ready to describe all the property the family has ...

You shouldn't be in such a situation. There are many ways to get out of credit bondage. More on this later.

How to get out of credit bondage

1. The first thing to do to get out of credit bondage is to reduce your family or personal budget. We determine the main incomes and expenses, the structure of the family budget, we determine possible ways to save.

2. Next, we take in hand all the loan agreements. Read the terms and conditions of the loan carefully. We check whether there is a possibility of reducing payments in the contracts, for example, some banks, in case of timely repayment of the loan within a certain time, offered the possibility of reducing the interest rate.

3. We also check contracts for commissions that may be considered illegal. For example, if at the conclusion of a loan agreement you were charged a commission for opening a loan account or for maintaining a loan account, or for transferring Money to a loan account, the money can be returned. In accordance with paragraph 17 of Article 5 of the Law "On consumer credit(loan) ”No. 353-FZ of December 21, 2013, such a commission is illegal. Thus, if money was taken from you when issuing a loan for such a service, we go to the bank and write an application for a refund.

4. We compare all monthly loan payments with monthly income. If, as a result of calculations, you have enough money to pay off loans and to live, but you just need to learn how to save money and reduce other expenses, for example, you can temporarily give up entertainment, or buy new clothes or household appliances, you will have to save and send money to pay off loans.

Finding an additional source of income is also an important factor in getting out of credit bondage. Talk to relatives or friends, they may be able to help you in a difficult situation.

5. Early repayment of expensive loans

One of the ways to get out of credit bondage, and significant savings in funds allocated to pay off debt, is early repayment of the most “expensive” loans.

That is, we choose the most expensive loan, the loan with the highest interest rate, and try to repay it as quickly as possible. Perhaps, for this it will be necessary to go to the bank and write applications for early repayment. But it’s better to “get off your feet” and ultimately reduce your debt than to overpay on interest every month.

At the same time, do not forget to adhere to the payment schedule for other loans. After all, each fact of late repayment of the next payment will entail the accrual of fines, which in turn will increase the amount of the payment, and, accordingly, increase your expenses for repaying loans.

6. Loan repayment at the expense of property

Such an opportunity exists for those families who have property that can be sold. Or, for example, for those who have a car loan (loan to buy a car).

What can I say here, everything is simple: we sell property and send money to repay the loan. In the case of a car loan, you first need to notify the bank that you want to sell the car and pay off the loan, then you need to find a buyer. The transaction about the sale of the car will be held under the control of the bank. Perhaps they will ask the buyer to open a current account, deposit money for the car into it, and only after that they will return the title to you (passport vehicle) for registration with the traffic police.

7. Debt restructuring

If there is not enough money to repay loans, you can try to restructure the loan. That is, to extend the term of the loan, thereby reducing the amount of the monthly payment.

To do this, choose a loan (or loans) for which the largest monthly payments, go to the bank that issued this loan, write an application for debt restructuring. The application must indicate the reason for the change in the term, as well as the amount of the payment that you can pay each month.

Typically, banks current situation, try to meet the needs of the client, and conclude an additional agreement to the loan agreement with new loan conditions.

At the same time, do not forget: not a single bank will prolong the loan for a very long period. For example, your "Wishlist" to pay off a hundred rubles a month will not be satisfied.

The bank will definitely check your income and your credit obligations, and establish new term loan repayment based on your income.

8. Debt refinancing

Debt refinancing, in my opinion, is the most optimal way to reduce the credit burden and get out of credit bondage.

Debt refinancing is the receipt of a new loan, the amount of which will be sufficient to repay all existing loans and interest on them. In other words, refinancing is refinancing.

But, this method is only suitable for those borrowers who do not have overdue payments. That is, if you already have a long delay on loans, you are likely to be denied refinancing.

You also need to understand that the bank will give you a loan to pay off other loans only if your income is sufficient to pay off a new loan, and also if you can provide security for a new loan. Either solvent guarantors, or liquid collateral (for example, vehicles or real estate).

To refinance debt, you need to contact a bank that offers the possibility of refinancing loans, collect the necessary package of documents, and wait for the decision of the bank.

As a rule, the bank approves only the amount that is necessary to pay off the entire debt, including interest.

After refinancing the debt, in no case should you take new loans. Otherwise, you again run the risk of falling into credit bondage, and then not a single bank will meet you.

In conclusion, I want to focus your attention on the following: getting into credit bondage is easy and fast, but getting out of it will take a long time.