Most families in our country are burdened with credit obligations to the bank. Insofar as VTB24 is the second largest bank, servicing individuals, a fairly large number of borrowers pay loans here. But none of the borrowers are immune from unforeseen life circumstances, which will eventually lead to the fact that paying the loan will be nothing. Overdue debt on a loan is a direct path to a debt hole, because the debt is growing every day, the credit history is deteriorating and it is almost impossible to take a new loan to pay off the current one. The only way out of this situation is the restructuring of a loan in VTB 24 to an individual, we will consider the whole process in detail.
What is loan restructuring at VTB 24 Bank
Debt restructuring is a change in the terms of a loan agreement. Typically, restructuring is applied to those clients who do not have the financial ability to pay their obligations in accordance with the monthly payment schedule. Indeed, for the client this is the only opportunity to pay off the creditor and not spoil his financial reputation, and for the bank this is the only opportunity to return the borrowed funds without loss.
Indeed, if the existing debt is not restructured, the bank will first sell your debt to a collection agency, and then the case will go to court, and over this period of time the amount of debt will increase significantly. And thanks to the restructuring, you will return the debt to the bank on optimal terms for yourself.
How can I solve the issue of bad debts with the help of restructuring:
- the bank will write off penalties for overdue debt, and the borrower will pay the amount of the principal debt with interest in accordance with the payment schedule;
- the pledged property will be sold in accordance with the pledge agreement in the event of the client's insolvency;
- the lender and the borrower will conclude a new loan agreement with an increase in its term, due to which the monthly payment on the loan will be lower.
Please note that the bank considers each situation strictly individually, so it negotiates with the debtor to find the best solution to the problem, namely the one that will match the financial capabilities of the borrower.
Debt restructuring on a loan at VTB 24 is possible only for credit card holders and consumer lending customers. That is, if the loan was issued with collateral, for example, a mortgage or a car loan, here, most likely, the bank will insist on the voluntary sale of collateral and repayment of the debt in full at the expense of the proceeds.
What is a loan restructuring: definition
What can the bank offer to debtors:
- extension of the loan term up to 1 year;
- deferred payment for the payment of the principal debt, that is, over a certain period, the client will pay only interest;
- restructuring of a foreign currency loan into a ruble one.
Please note that if unforeseen circumstances arose in your life as a result of which you cannot pay the loan, then it is wiser not to wait until you have an overdue debt, and immediately contact the bank and consult with the manager to find the best option for you.
Conditions for restructuring at VTB 24
Restructuring or refinancing of a loan is available only to bona fide borrowers who fulfilled their loan obligations on time and did not allow a single delay. By the way, the restructuring of overdue debt is an individual issue, it can only be solved by the client himself with a manager at the bank, and there are no guarantees that the lender will meet the borrower halfway and agree to debt restructuring, because in this case he has already established himself as an unscrupulous borrower.
Loan for refinancing in VTB 24
So, if you want to refinance or restructure a loan, then several conditions apply to you:
- no arrears;
- amount from 30,000 rubles;
- interest rate 13.95% per annum.
In addition, there are also a number of requirements for the borrower, namely, he must re-assemble the package of documents and submit them to banks. Among them, a certificate of wages in the form of 2-NDFL or a bank form, a passport and an application are required. This is a typical package of documents, but it will need to be accompanied by a few more certificates that may confirm a decrease in the borrower's income, or another document that confirms that the client's solvency has decreased due to unforeseen circumstances. You can attach to the package of documents such certificates as a medical certificate of illness, your own or a close relative, a death certificate of a co-borrower, a certificate of pregnancy, which confirms that the borrower will go on maternity leave in the near future. In general, your task is to convince the creditor that the reason for your insolvency is quite valid.
Online application
VTB 24 loan restructuring is carried out only on the basis of a personal application from the loan payer, you can write an application online. By the way, one cannot fail to say that both the borrower himself and the co-borrower or other persons who were directly involved in signing the loan agreement, including the guarantors or successors of the debtor, in case of his death, can apply.
Please note that when applying remotely, the maximum amount should be up to 500,000 rubles.
By the way, it should be borne in mind that if you applied for restructuring online, you will still need a personal visit to the bank branch, because, as mentioned earlier, the bank can offer you several options for solving the problem, so this issue will need to be discussed individually. And this suggests that you can not waste time and personally contact the bank branch, where you can write an application, ask for a copy of it, and also provide all the necessary documents, the list of which was given above. In any case, it takes a certain amount of time to consider each individual fork. After the bank makes a decision, it will notify you.
By the way, you can write a statement by hand or type it on a computer, why print it, and the text of the statement is free. Consider a sample application for restructuring a VTB 24 loan:
- in the upper right corner, write the full name of the bank and its details, then your data; surname, name, patronymic passport and contact details;
- further, you have the text of the application, in which you need to indicate when and under what circumstances a loan agreement was concluded between you and the bank;
- indicate the number of the loan agreement, the date of signing, the amount, the terms of the loan, that is, the interest rate and term;
- describe in as much detail as possible your life circumstances that led to the inability to pay the loan in full on time;
- in conclusion, describe your wishes, that is, what you would like to receive in the end: a decrease in the amount of the monthly payment by increasing the loan term, or another way out of this situation.
Important! After you have written an application for restructuring and handed it over to a bank employee, be sure to ask him to make a copy of the document, certify it with the bank's seal and the personal signature of the manager. You will need this if you receive calls from the security service asking you to repay the debt, in this case you will have evidence that you are not evading responsibility for repaying the loan, but, on the contrary, you want to resolve the issue with the loan amicably.
Sample application for restructuring
Refusal of restructuring
To begin with, it must be said that the bank will make a decision individually for each client. It will be judged by the following parameters:
- The responsibility of the borrower, that is, if he paid off most of the loan, then the bank will meet him halfway, of course.
- The presence of delays in current obligations, that is, if he used to pay the loan on time and did not allow delays, then this is a big plus for him.
- His initial terms of the contract play a big role, that is, if the interest rate was significantly higher than 14% per year, then the bank will be able to improve lending conditions for him.
Please note that the decisive role is played by whether the loan client is a participant in the bank's salary project, if so, then he has more chances, respectively.
From this we can conclude that there can be quite a few reasons for refusing to restructure. But for many borrowers, this is the only chance to maintain a positive financial reputation and repay the loan with the least loss for themselves. If you were refused restructuring, then do not despair, the only thing you can do is re-apply for loan restructuring, be sure to indicate all the reasons why you cannot pay the loan. Be sure to attach all documents, and also indicate in the application that you have attached documents to it that confirm your financial difficulties. When you apply again, you are more likely to get a positive decision, because bank employees can be heavily loaded and not pay due attention to each client individually.
If this measure does not bring a positive result, then you should prepare as soon as possible to file an application with the court. In principle, here you will also need a package of documents that you submitted to the bank for restructuring, namely a salary certificate and documents confirming temporary insolvency.
Please note that when filing an application with the court, you must be guided by article number 451 of the Civil Code, "Change and termination of the contract due to a significant change in circumstances."
Thus, if you find yourself in a difficult life situation, then you should not get upset ahead of time, try to resolve the issue as soon as possible, first of all with the creditor. It is unprofitable for the bank when borrowers stop paying the loan and shy away from cooperation with the bank. Therefore, if the reasons are really good, then, most likely, the bank will meet you, and if this does not happen, then do not be afraid to go to court in this case, most likely, the decision will be made in your favor. But at the same time, keep in mind that even the court will not save you from credit obligations.