They became very popular, as they turned out to be the only way for many people to get the necessary amount of money urgently and without unnecessary red tape. Indeed, when compared with a bank loan, microloans are easier to get, and there are practically no refusals on them. But with all the pluses, there is one significant minus: you will have to return a much larger amount than was taken. In addition, microcredit involves relatively short terms, so it often happens that when the time comes to repay the debt, a person is simply not ready to do it.
Judging by the number of questions on legal and near-legal forums such as: “I can’t pay a lot of microloans, what to do”, “how to get out of microloans I got a lot” and the like, this problem is quite common. Experts who help in resolving such issues note that most often the appearance of several microcredit agreements in the consumer’s arsenal is due to the following reasons:
Of course, MFIs are not at all interested if you just tell them that I can’t pay a microloan. This is not a charitable organization, and the desire to receive not only your money, but also profit is quite natural. Another thing is if your difficulties are temporary, but at the same time you do not stop looking for ways to solve how to get out of microloans. In this case, a solution can always be found.
So, you do not belong to the category of those who are trying to find ways to legally not pay a microloan, but you are throwing all your strength into solving the problem in the least unpleasant way for all parties. As you can learn from the MFI debtor forum, most often defaulters use one of the following two methods of repaying debt:
By and large, any of these methods of order is better than the option of simply not paying. Remember: the longer the period for which you take Bank loan, the smaller will be monthly payment, however, the greater the overpayment for the funds used. However, if a solution to the problem is foreseen in the near future, due to which you have a lot of microloans and three large loans, what to do - the decision suggests itself: take a cash loan, pay off all debts, and pay off the remaining debt as soon as you solve your financial problems. difficulties.
Many of those who have a lot of microloans. and there is nothing to pay, they don’t even realize that everything is nothing but an ideal way out for them. But not every entertainer is in a hurry to resort to such a solution to the problem. Why? It's simple: yours is the growth of their income, but it stops.
Moreover, if you have a lot of microloans and nothing to pay, what to do and how to be can also be decided through the court: with, which will result in a significant decrease in the amount you have to pay. Therefore, the questions of what will happen if you do not pay an online loan should not be resolved on your own, but with the help of a qualified lawyer who will not only guide you along the least problematic path, but also help in case of disputes and situations. Remember, the only wrong answer to the question - I have a lot of microloans what to do, is the advice to do nothing. The borrowed money will still have to be returned, another thing is how and in what way.
How to get out of microloans, I have a lot of microloans - I can’t pay them off, the popularity of such questions is increasing daily. In part, this can be seen as the fault of the MFIs themselves, who have simplified the procedure for obtaining cash so much that they have become a source of cash, without thinking about when and how to return it. Of course, we are not talking about all MFI clients. Often the problem of a lot of microloans, how to repay them arises for those who are really in difficult situation. In this case, we can only advise you to enlist the support of a specialist and solve the problem with the least loss for yourself.
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All borrowers at least once asked themselves the question, is it possible not to pay the loan? Therefore, many are wondering how you can legally get rid of microloans in 2020.
How often does a person today face financial difficulties? Almost every time he receives payments for public services when the refrigerator suddenly breaks or someone from the family gets sick.
Yes, these are minor everyday issues, you will say, and you should always have in reserve. But what to do when there are no savings, and money is needed today?
Such situations encourage people to turn to organizations that provide loans.
It is not always possible to ask for a loan from friends, besides, it is inconvenient, and you need to explain yourself. In connection with this situation, a person decides to apply to the MFI.
MFIs are small financial institutions who offer, and will easily help you in difficult times.
However, having borrowed money, people are not always aware of the responsibility assigned to creditors, and neglect the payment of debts.
There are a lot of such people, and basically, their problem is that every day the debts grow like mushrooms after the rain.
MFIs charge a fee for using their in cash on a daily basis. Without paying once, it becomes more and more difficult to pay the debt, and more often than not, hands down.
When debts take on a large amount, the MFI begins to demand money using different methods both legal and not. What to do when you cannot cope with debts and you have nothing to pay, we will discuss all this.
As soon as a person has signed a loan agreement, from that moment he has an obligation to creditors to pay the amount of the debt and accrued interest.
In life, everything is not always smooth, and often people do not cope with their obligations, driving themselves into debt pits.
Once a borrower fails to pay any interest by extending the loan, the MFI immediately begins a process called debt collection.
The procedure is the same for all banking organizations, and involves two actions on the part of the creditor:
On the Internet, everyone is looking for answers on how to get rid of microloans online. Many borrowers, unknowingly establishing responsibility, borrow money using online loans, believing that if the contract is not confirmed by a personal signature, you can take money and forget about the return.
In fact, everything is more complicated, and not one micro organization would present its services in this way, giving out money for free.
The fact is that with contactless registration, you agree to the contract with an offer, which carries the same legal force as your signature.
Therefore, the MFI has the right, legally, to sue you or seek the help of collection organizations.
Borrowers are also interested in how to get rid of. There are some ways, but you should not rely on them, because. The state has never forgiven anyone for anything.
If you do not belong to the part of borrowers who deliberately accumulated debts, but want to solve this problem, you should consider ways out of such situations.
First of all, do not be afraid of MFIs, and in case of bad debts, call or visit the branch, explain the situation, and most likely, they will meet you.
One of the main points of the contract, which all experienced borrowers look at, is the possibility of prolongation.
If this condition is available to you, you should not worry all the more. If such a procedure has not borne fruit or is not available to you, you should not panic, because. debt cannot grow indefinitely.
According to legislation and laws Central Bank, which regulates the activities of MFIs, the amount of debt with the accrual of fines cannot exceed the initial amount by more than 4 times.
That is, if you took 10 thousand rubles, the maximum amount that an MFI may require cannot exceed 40 thousand rubles, otherwise such an action is illegal, and immediately file a complaint with the court, which will be on your side.
Speaking of 40 thousand rubles, it is unlikely that such an amount will be lying around unnecessary in your pocket, but it is not critical, and you can pay it if you wish.
As for, the Central Bank also has a limit, which can reach up to 20% per annum, excluding interest that was accrued regularly according to the terms of the contract.
If you want to know, is it possible to avoid paying the debt in principle? No, you will not have such an opportunity, and obligations will not run away even with counterclaims.
When the MFI sees that you are not paying your debts, they will call you or send letters asking you to return the debt.
However, if this method does not work for you, the creditor may turn to third-party assistance from collection organizations that will not stand on ceremony, so be prepared for psychological pressure.
Having found themselves in debt, like in silks, many people continue to look for a way out, and they find it. Let me tell you a story that will help you understand how you can reduce interest.
The MFO applied to the court, which demanded ten times the amount of the debt from the borrower, who did not pay the debts throughout the year.
The contract was drawn up legally competently, and the borrower knew about the amounts of interest, no one withheld information.
At the same time, the court considered the claim, and decided only to double the amount of debt that was taken initially.
This is justified by the fact that, despite the knowledge of the conditions, fairness must be observed between the lender and the borrower.
Moreover, the court accused the MFI of deliberately waiting for such a long time and accruing interest throughout the year. Justice prevailed, and the borrower was obliged to pay much less.
The conclusion from this situation is that, despite the terms of the contract, the court may be on your side, especially if you still provide evidence about your appeals to the MFI with a request to reconsider the payment of the debt.
Most often, such organizations already know that the appeal will not lead them to the desired result, and the court will never decide on ten times the amount of interest.
Therefore, take the initiative into your own hands, armed with knowledge of the refinancing rate of the Central Bank, which is equal to 8.25% per annum, and demand that the court decide in your favor.
If you have not yet applied to the MFI personally with a request and an application for refinancing, it's time to do it.
And in case of refusal, in court you will have extra proof of the unwillingness of the MFI to meet their debtors.
Indicates the rights and obligations of the MFI and the borrower, and also details what constitutes an illegal action on the part of the MFI:
Contracts executed in 2020 will already have an adjustment in the amount of maximum debt growth, which should not exceed three times the original amount.
When a borrower is faced with a financial problem, most often, he takes new loan to close the previous one, and so it continues in a circle until this ingenuity replaces panic and the realization that there are even more loans, but there is still no money.
You should not resort to this method, as in practice it aggravates the situation even more. First of all, write a statement addressed to the MFI stating that you do not have the funds to pay.
At the same time, the letter must be written correctly, the main idea of which conveys your desire to pay, while it is not possible, and invite the MFI to sue you.
If you have strong evidence of your inability to pay in the form of a sheet of papers, loss of a breadwinner or illness, attach the papers to the letter.
Before sending, get a photocopy of the letter, and if this is your first delay, the amount will be fixed, and you will be able to challenge the continuation of charges in court.
The second way is to apply to the MFI with a request for restructuring. They can offer you more long term to make the payment smaller, temporarily freeze the calculation of interest or another condition.
When it comes to the daily interest rate, you don't have time to sit. Therefore, ask the lender, and perhaps they will meet you
The following situations can be a good reason to cancel the debt:
Going to court would be the right decision. Pre-stock up on evidence of your desire to pay.
If the appeal comes on your behalf, the court will be on your side, and possibly cancel the imposition of fines, penalties, and also establish a rational schedule to pay off the payments.
In this case, it should be borne in mind that if the case went to court, it is already too late to hide in the bushes, and it will be necessary to really pay the debt in accordance with the decision made.
Video: online loan for Qiwi (Qiwi) wallet without failures
Otherwise, the bailiff has the right to collect from your wages up to 50% in favor of paying the debt, forcibly.
This method can be given by a court decision in favor of paying the debt if the borrower refuses to pay or has no job.
Based on the decision, the bailiff has the right to come and evaluate your property for sale. If the amount from the sold property is more than the amount of the debt, the difference must be returned to its owner.
This procedure is used for problem debts, going towards the debtor.
In this case, the bank issues you under more low interest for a longer period of time so that you can pay off the old loan.
In this way, you can quickly deal with debts. Or you can use the prolongation of the agreement in the MFI, if it is offered.
You can ask the MFI about it personally by writing an appropriate application or by going to court to consider options for repaying the debt on more favorable terms.
This procedure is also called assignment of rights. The transfer is very common among credit institutions, and it occurs in the event of a bad debt from the borrower.
Hi all! If you remember me, of course. Today I will tell you a lot of useful and relevant information, and you will go nuts from the fact that I give it to you for free.
MFI loans or microfinance loans continue to torment the population, distributing money without any verification of documents and credit histories. And they do it in vain, because a person who has already got into debt, in most cases, he can no longer stop, he takes everything and takes new money, because:
- Gotta live for something
- You have to do something to pay off your existing debts.
Believe me, if not every debtor thinks so, then at least every third. I have been fighting for your financial and legal literacy for a year now, but still nothing. Therefore, today I will not tell you how dangerous loans are and why you do not need to collect a lot of them. Today we will fight the consequences of your exorbitant credit appetites.
What to do if you or your relative has taken on a lot of loans and cannot repay them
Step #1 - Stop taking on new loans.
The first thing that must be done is to prevent the emergence of new loans and credits. Do not allow a person to load himself with new debts. If you came here for help because you yourself got into such a credit addiction - read carefully and follow my recommendations exactly. If you yourself have led yourself to bankruptcy, then it is better not to listen to yourself, you are unlikely to help yourself.
So, the first step is to exclude the emergence of new debts, it is under this condition that we will be able to productively deal with those that you have already accumulated.
Step #2 - Try to budget
I'll explain what I mean. You must count all your debts down to the penny. For example, you have 10 microloans for a total amount of 500,000 rubles, of which 300,000 are the principal debt, 150,000 are interest, and 50,000 are penalties. Excellent. Now you see the scale of the tragedy not with emotions, but with the dry language of the great science of all sciences - mathematics. Congratulations, you have taken the first correct step since applying for your first microloan.
Now you have to check how things are going with your property. If you do not own anything more or less valuable, then this stage is irrelevant for you. If you managed to accumulate some valuable property, for example, an apartment (or a share in it), a car, collectible books, or even a collection of something valuable, hunting or collectible weapons, in general, you understand me. In this case, think about what to do with this good while there is time. If nothing comes to your mind interesting ideas Please contact me and I will advise you on this matter. .
Step #3 - If you have refurbished your apartment
Sometimes clients who come to me for a consultation already manage to take some action with their property, and belatedly ask me if they did the right thing. It is not necessary to do so. For example, you sold an apartment or gave it to your relative so that you would not have any property. What are the implications of such a deal?
Firstly, both donation and purchase and sale are ordinary civil law transactions. And you and I know that any interested person can try to challenge such a deal in court. However, you have nothing to fear if this apartment, or share in it, was your only property. If this is the case, then even if the transaction is contested, the lender will not be able to foreclose on your property, since it will remain your only home. Everything is simple. The creditor has the right to challenge the transaction, but there is no point in such a dispute, the creditor will not receive an apartment.
Step number 4 - they get collectors and threaten all relatives
You can write:
- to the prosecutor's office (for violations of the legislation on personal data);
- to the police (on the subject of extorting money from people who did not borrow them);
- to the branch of the Bank of Russia in your region (he oversees the activities of MFIs - for illegal methods of work);
- into control federal service bailiffs (they oversee the activities of collection companies - for violations by collectors of the very anti-collection law - the Federal Law "On the Protection of Rights and Legitimate Interests individuals when carrying out activities for the return of overdue debts).
“I am such and such, I work there, collectors of such and such an organization began to call me on my work phone, demanding a refund. At the same time, I did not draw up any loans and credits in the said organization, I am not their client, I did not provide them with my personal data and did not give consent to their processing. By their actions, this company is extorting money from me, which is committing a criminal offense ... I ask you to check this fact.”
And in this vein, write to all other authorities, unless you change the basis, for example, for the prosecutor's office, the fact that MFIs or collectors use your personal data without your consent, and their illegal processing, provided that you did not provide this data and your consent to the processing was not given.
Step #5 - Forget about suing MFIs or banks altogether.
In Russia, there are still many semi-fraudulent law firms that do a lot of useless work for debtors. I will write a separate article about these companies and tell you everything in detail.
So, these companies take money from debtors to write them bundles of claims, complaints, as well as statements of claim, the essence of which is either to challenge the terms of loan agreements (or loan agreements), or to reduce interest on loans (credits) or in freezing interest and penalties on loans (credits).
My advice to you is to completely forget about such lawsuits. From time to time, clients write to me about how, before contacting me, they had already applied to such strange law firms, and companies have been pulling the last money out of them for months in exchange for some crazy documents: claims, lawsuits, complaints. Never in Russian judicial practice there were no positive decisions to reduce interest on loans. These are all the machinations of scammers. Just like you can't freeze debt. Even after recovering the debt in court, banking programs, who calculate loans, continue to tirelessly accrue interest and penalties.
Yes, you may have already read the Internet and found some examples of winning cases. I heard about such. But, you see, every case is unique, and these won cases, they are rather an exception to general rule, and repeating such success, if it really exists, and is not a work of a “lawyer” from Photoshop, will be almost impossible. Russian system law does not perceive the precedent, which means that even if you are imposed in court with positive decisions on such children's cases, no one guarantees you that you will receive the same decision in relation to yourself.
Step #6 - Need di fear being prosecuted for fraud
Many debtors, having already heavily loaded themselves with loans, are unable to make a single payment on new loans. Collectors or MFIs themselves are beginning to intimidate debtors in every possible way, and, as the main argument, I have never heard a threat - to initiate a criminal case and hold the debtor criminally liable for fraud, since he did not make a single payment for the loan he received. And the debtors who contact me ask the same question: is it necessary now, in the presence of an overdue debt, to deposit at least some even the minimum amount in the MFI in order to avoid possible criminal prosecution? My answer here is quite ambiguous - yes and no.
The fact is that the minimum payments made sense to do as long as there were no delays. Now, all your payments will go towards paying interest and penalties.
However, if you have the opportunity to make at least one payment to all overdue MFIs, then I recommend doing this, if only so that you are not afraid of criminal prosecution.
I will not hide, if the borrower has taken on a lot of loans and has not made a single payment, this can be regarded as fraud. But, there are many nuances in such cases, and far from all statements of creditors, such criminal cases are initiated. However, the risk, albeit minimal, remains.
Step #7 - Did the MFI Calculate Interest Correctly?
Depending on the date of registration of a loan in a microfinance organization, the procedure for calculating interest also depends. If you remember, microloans have always been famous for their huge interest, which reached up to 700 - 800 percent per annum. And so many debtors are faced with these terribly high interest. The problem is that before the state did not regulate the issue of accruing interest on loans, MFIs were left to their own devices. Therefore, the debtors received court decisions in which 150,000 rubles were recovered from the debtor for an unpaid loan in the amount of 10,000 rubles. And such decisions were legal, since the interest rate was agreed in advance in the loan agreement, and the legislation did not contain any restrictions on the growth of interest.
But, since then, everything has changed, and the legislator has repeatedly reduced maximum size interest on loans. Check your loan agreements, read how and in what amount interest is calculated in them, and then check these amounts with the requirements of the Federal Law “On Microfinance Activities and Microfinance Organizations”. The first wave of interest restrictions was launched in July 2016, the second wave will start this summer 2019. So stay tuned for changes in this Federal Law.
If you see a pre-trial claim from an MFI or a lawsuit, immediately find your loan agreement and find the answer to the question: When was this loan issued? And then follow the law.
If you decide to appeal the microloan agreement in terms of illegally calculated interest, then remember that for consumers, the term for challenging the agreement is 3 years from the date of its signing.
Another popular question: often the relatives of the debtor are interested in whether they will be affected by the presence a large number debts from a relative, in particular, will they not receive a temporary ban on leaving the Russian Federation or other unpleasant measures of influence? Everything is simple here. If you are not a borrower or a guarantor, and there are no court decisions and enforcement proceedings for debt collection against you, then there should be no restrictions on you.
Step number 8 - is it possible to reduce the amount of debt on an MFI loan
As I wrote above, forget about the litigation over the reduction in interest. Especially if you are going to sue the MFI first. The interest is provided for by the contract, therefore even the court cannot reduce them (given that they are calculated correctly on the basis of the current federal law). You can only reduce the penalty (penalty) and then if it is disproportionate to the amount of debt.
Step #9 - Is it possible to repay an MFI loan voluntarily?
If we are talking about pre-trial settlement of the conflict with MFIs, then the situation may be as follows. You have saved up some part of the money and go to the MFI to pay off the debt at least partially. But, you are faced with a refusal - the MFI does not want to accept partial payment, it requires full repayment of the debt.
This is a common occurrence. MFOs are very harmful organizations, as far as the pre-trial settlement of disputes with them, and specifically, the payment of the debt voluntarily, is concerned, as a rule, they require the payment of the entire debt in full. They don't want to accept installment payments. And then, for you, repaying an MFI loan in installments may not be practical, since all your money will be used to pay off interest, and while you collect new funds, interest will increase again. It's a vicious circle. Here, either you pay the full amount and close the debt, you will constantly pay them and it will never end.
What to do with debts on MFI loans. All options.
Step #10 - Active Strategy - Citizen Bankruptcy.
You have, for example, 10 overdue MFI loans. Calculate the entire amount of your loans and borrowings, including interest, but excluding penalties (forfeits). Let's see if there is enough debt for the bankruptcy procedure of a citizen. You need to collect at least 500,000 rubles of debt (principal debt + interest). The cost of bankruptcy, depending on the region, will cost you an average of 150,000 rubles.
Bankruptcy is relevant for debts from 1,000,000 rubles, the debtor then saves quite well, closing all debts for 150,000 rubles, which is a little more than 10%. The only negative is that bankruptcy lasts 1-2 years in reality (instead of the declared 6 months). But, this procedure works, I have already relieved 5 people of debts in this way.
But here we must understand that the preparation for bankruptcy can last for years. For example, before finding my article, you have already donated or sold your property - land plot, car, cottage, share in the apartment. If you now go into bankruptcy, your financial manager will have to challenge all these transactions and take the property you sold to the bankruptcy estate for settlement with creditors.
In order for your transactions to remain valid, you must wait 3 years from the date of the sale of the property before filing for bankruptcy in court. So there are a lot of nuances here, and if you doubt whether you have outlined your plan of action correctly, I recommend contacting me for a consultation. Terms are here.
Step #11 - Passive Strategy - Debt Consolidation in Enforcement Proceedings.
I will shorten my article and lay out the strategy for you point by point.
- You send to all MFIs in which there are delays an application to revoke consent to the processing of your personal data. On the one hand, MFIs will be able to continue processing your PD and without your consent, if there is a debt, the law allows this. However, they will not be able to sell your debt to debt collectors or outsource debt collection to third parties. This measure does not always work, but, for example, banks, after receiving such letters, are more willing and faster to go to court.
- Next, you will need to control the judicial stage. Here you will be interested in the amount of debt that MFIs will recover in court. If only interest and principal are included in the debt, then it will not be possible to reduce these amounts. If the MFI charges you fines, penalties, forfeits, you can try to reduce these amounts. So, the main thing for you will be to receive all claims, court orders, court decisions in order to control the situation and, in which case, appeal judicial acts, if needed. You must understand that MFIs will not apply to the court at the same time, and the filing procedure may be different from writ proceedings to lawsuit.
- The result of the previous paragraph is the initiation of enforcement proceedings against you. There may be several enforcement proceedings, but more often, the bailiffs combine them into one summary, since the debtor is one and he also has one source of income.
What will the bailiff do as part of the enforcement of decisions:
- arrest of accounts/deposits
- travel to the place of residence of the debtor for the purpose of inventory and seizure of his property
- retention of 50% of income in favor of creditors.
- Imposing a temporary restriction on leaving the Russian Federation.
In principle, these are all the main executive actions that bailiffs carry out.
Your interaction with the bailiff
Where do you live? Does anyone else live with you? Whose property is in the apartment besides yours and do you have valuable property that you would not like to give to bailiffs? it important points, since the bailiff has the right to describe and seize all property at the place of residence of the debtor, unless the owner of the property proves that this property does not belong to the debtor. Suitable for this are sales contracts, loan agreements, receipts and invoices, in general, documents that contain the name of the owner.
As an alternative, you can make a property donation agreement or an apartment rental agreement with a list of property that you receive for use from the owner of the apartment. But, recently, neither the bailiffs nor the court have confidence in such documents.
By default, the bailiff can seize the account or card through which you receive your salary or pension. Be prepared for this in advance, make copies of documents that indicate that your income is credited to this account. And after the initiation of enforcement proceedings, it will be necessary to immediately provide these documents to the bailiff. Otherwise, the bailiff can seize all your money and write it off to hell as debt repayment. You will have to work hard to remove this arrest.
In most cases, the enforcement procedure must end with a withholding of 50% of the proceeds. There will be no more sanctions from the bailiff. Remember that 50% is the maximum to hold, regardless of the number of debts and enforcement proceedings. It can be one debt or 10, the bailiff cannot take more than 50%.
For pensioners, the procedure for reducing the amount of deductions works to a large extent. To do this, after the initiation of enforcement proceedings and the start of the deduction, it will be necessary to write to the bailiff an application to reduce the size of the deduction. If the bailiff refuses you, it will be possible to apply to the court with a similar statement. In my practice, the bailiffs voluntarily reduced the amount of deductions to 30%, and we did this through the court in case of their refusal or lack of any reaction.
Step #12 - Buying the Debt
Such enforcement proceedings Withholding from income can last for years until the debts are paid off. But, you can try to buy these debts from debt collectors. The cost of redemption in practice is on average 30% of the amount of the debt. True, this procedure is more relevant for banks and MFIs almost never agree to it. But, you can try. You will need to write a buyout offer and wait for a response from the MFI or collectors, depending on who will be the claimant by the time enforcement proceedings are initiated.
Here are the options. All these complaints about MFIs for interest, as well as lawsuits from debtors to reduce interest and challenge contracts - all these are both before and now proposals from scammers or lawyers who want to get money from debtors, knowing that this is a road to nowhere .
The high interest charged by MFIs is due to the fact that these organizations bear the risk by issuing funds to clients. They do not pre-screen their borrowers and their credit histories. Therefore, even a citizen who has repeatedly had problems with loan arrears can receive money.
However, MFIs are not limited to interest rates. In case of delay, actions are taken to induce the client to return the funds. They are not always legal. Therefore, if the debtor has nothing to pay microloans, he tries to find a way out of this situation as soon as possible. You should figure out what can be done in this case.
Measures applied by MFIs to debtors
After the state took over control of the microcredit market, the situation in this sector somewhat stabilized. If earlier many companies resorted to illegal methods of recovering funds, today the actions of MFIs to collect debts are regulated by law.
Organizations operating within the legal framework can:
- To resort to the calculation of fines, penalties, forfeits.
- Use the right to apply statement of claim and demand the return of funds in court.
- Periodically call the client, use personal visits to persuade the latter to return the money (at the same time, employees of the organization do not have the right to use threats, blackmail, intimidation, physical violence).
- Hand over promissory note collection agency.
Any kind of threats, damage to the personal property of the borrower, calls at night are illegal. Since employees of the Security Service of MFIs often threaten with an inventory of property, it should be clarified that only bailiffs. Also illegal are large fines and interest rates that lead to excessive debt growth.
What Not to Do
Debts may arise from different reasons: from losing a job to having to pay for treatment. Regardless of the factor that led to the formation of the delay, it is necessary to be able to act correctly. There are two common behaviors:
- Periodic contributions of small amounts to repay the main debt, regardless of the accrued fines.
- Avoidance of MFI employees. That is, the borrower begins to hide from the SB organization.
The first model of behavior is more correct, however, due to penalties, the gradual repayment of the debt by the borrower does not occur. The constant accrual of an interest rate in combination with penalties leads to the fact that it will be impossible to pay the organization in this way.
Worse, if the borrower avoids MFI employees altogether. In this case, he loses the opportunity to make contact with the microfinance organization and achieve a deferred repayment. Moreover, if the company's employees use the right to file a claim, state authorities will look for the culprit.
How to act
The first thing a borrower who cannot make the next payment should do is inform the employees of the microfinance company. The same applies to persons who have recently had a delay. In most cases, it is beneficial for employees of the organization to achieve the return of funds peacefully, without involving third parties in this process.
Therefore, the borrower needs to make a written request regarding the deferred payment. At the same time, it is recommended to prepare documents in advance that will testify to the poor financial condition of the citizen. Such a document can be, for example, a medical certificate.
Don't expect a long delay. In the case of microfinance organizations, it ranges from several days to a week. Therefore, the method is more suitable for those persons who can get funds in the coming days (if such a situation occurs, you should focus on this when applying). It should be noted that for the days of deferment, interest is still calculated.
What to do if there is no opportunity to repay the loan on the same terms in the near future? In this case, you can discuss the issue of debt restructuring with employees of the microfinance organization. This will allow you to spread payments over time, which will make it possible to make smaller payments. However, MFIs are much less likely to take such a step than banks, but if strong evidence (including documentary evidence) is provided, the company can meet the client halfway.
What to do if an agreement fails
Although organizations are interested in the return of their funds, they do not always meet the needs of the borrower. Often this happens when there are several debts. If the MFI fails to collect the debt on its own, the company can:
- Sue the borrower.
- Transfer debts to collectors.
Further actions of the borrower will directly depend on what exactly the company has done. However, in this case it is important to pay attention to one nuance. A company will not be able to initiate legal proceedings if it does not have official registration (despite emerging market microcredit, similar cases occur today).
Therefore, the borrower should first check the presence of the organization in the register of MFIs. If there is none in it, then you can safely contact Rospotrebnadzor. Moreover, in this case, the borrower himself can initiate trial which will cancel the debt.
Litigation
The borrower should not be afraid of the company going to court. In fact, microfinance organizations rarely resort to this. The reason for this is the need to keep a lawyer on staff, as well as the high risk of writing off a significant part of the debt. In accordance with the law, MFIs cannot raise the interest rate above the norms established by the Central Bank. Restrictions are also set on the maximum allowable increase in the borrower's debt.
The judge during the proceedings may annul fines, penalties and forfeits that are contrary to the decisions of the Central Bank. In addition, the borrower himself will be able to challenge the amount of the debt, or even cancel it if he proves that the contract signed upon receipt of funds contains onerous conditions.
Moreover, the borrower, citing a difficult financial situation, may ask the court to divide the debt into several payments. If at the same time documents confirming the absence of money are presented, the judge may grant the defendant's petition. In connection with all of the above, debt litigation may even be beneficial for a borrower who is unable to return the funds to the MFI at the current moment.
Collector activities
What happens if the debt was transferred to a collection agency? In this case, the borrower should be prepared for constant calls, personal visits and threats of legal action (like MFIs, agencies have this right). In the event that legal proceedings are initiated, the borrower will be able to take the same actions as in the previous case.
At the same time, it should be noted that the time and frequency of calls demanding the return of funds is clearly regulated by law. You can not disturb the borrower at night and on holidays, excessively frequent calls are also prohibited. In the case of a personal visit, the borrower has the right not to let collectors into his house, the latter are deprived of the right to exert physical and moral pressure on the debtor. The same applies to the widespread practice of public humiliation of the borrower. In all such cases, it is necessary to write a statement to law enforcement agencies, the prosecutor's office.
Thus, in the event of a debt to a microfinance organization, first of all, the borrower should try to agree with its employees on a delay. It should also be noted that the MFI can sue. If the borrower has received a copy of the court order, it is recommended to challenge it as soon as possible (otherwise, the debtor's property may be described, and taking into account all illegal fines).
If the debt is transferred to a collection agency whose employees threaten the borrower, you must contact the police and the prosecutor's office. But it should be remembered that if the loan was issued by an organization acting legally, it will not be possible to avoid its repayment.
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Today, more and more citizens are lending to MFIs, which attract with efficiency and ease of registration.
But few people then think about what to do if there is nothing to pay the received microloans. This issue needs to be approached very intelligently.
Before applying for a loan, you need to consider your financial capabilities, and calculate whether they can bear such expenses as paying off the loan.
But, as practice shows, with the efficiency and simplicity of design, few people think about it.
When the moment of repayment comes, many begin to realize that there is no possibility to pay off the issued loan.
Or there are unforeseen situations that do not allow you to make a payment. At the same time, you should know what to do if there is nothing to pay loans.
General points
In the event of a prolonged non-payment of a microloan, certain measures are applied to the borrower:
- Making calls, sending emails or messages reminding you to make a payment.
- Transferring a loan to a collection agency.
- Submission.
- Compulsory demand for the return of the money taken.
These measures are completely legal. But often collection companies come to such illegal actions as:
- Making constant calls to the borrower's relatives, or constant calls to work.
- Visiting the borrower at home.
- Received death threats from collectors, threats with a warning about the arrest.
Such measures are not legal, after the manifestation of these actions, you can contact the prosecutor's office.
Required Concepts
Small loans issued by microfinance institutions for a short period Microfinance organizations Commercial or non-commercial lending institutions that lend to the public in small amounts and for a short period Debt restructuring This write-off of accrued fines and penalties for late payments on a loan is issued on different terms from the previous loan, for a longer period, with a lower monthly payment, but the total amount will be many times more In a word, this is refinancing. When one loan is issued, which is equal to the remaining amount of the first loan, the money must be transferred to the details of the refinanced loan automatically by the company that provides this service Deal Opportunity
To date, microloans have a great development, and there is an increasing demand for them.
This is due to the fact that when issuing loans, most MFIs do not view credit history, does not require , or confirmation from the place of work.
Therefore, it is enough to be of legal age to apply for a loan in an MFI. It should be added that when providing reliable information, or providing additional personal information, you can get some discount on registration.
It is also an interesting fact that in no MFI the contract will spell out annual rate, or monthly commission.
Because interest is calculated daily. There are no cheap loans in MFIs. It should be added that for non-payment of the monthly payment, the MFI has the right to impose a fine/penalty.
Legal framework
The laws that govern and set rules in MFIs are:
According to , MFIs have the right to sell the problematic loan agreement collection firm.
When an MFI can no longer do anything with a problem borrower and does not make contact, then collectors deal with this client.
What to do if you got a lot of microloans, but there is nothing to pay
It happens that a conscientious payer has unforeseen situations when it is not possible to minimum payment on a loan, in order to avoid some problems, you need to contact the MFI to solve these problems.
To get out of this situation, microfinance institutions can offer one of the options for solving the problem, the client negotiates with the MFI profitable proposition for both sides:
- Loan extension.
- Debt restructuring.
- Loan refinancing.
- Deferment of payment.
- Consolidation of loans.
Postponement of payments convenient option when the MFI moves the date of the next payment to another convenient for the client. This is convenient for those clients who have a temporary difficulty with money.
Consolidation of loans is when all loans are combined into one. This is quite convenient when one loan is paid, the interest rate and the monthly payment will be changed.
Some MFIs may write off the entire loan debt if the borrower was recognized as a disabled person of group 1 or incapacitated.
Possible reasons for non-payment
It is very easy to get a microloan, but it is a bit difficult to repay the debt, as financial difficulties may arise, in connection with which there is no way to pay the debt.
In fact, it takes a minimum of time and even without a visit to this branch, which is very tempting for rash decisions.
But you really need to weigh your options. After all, sooner or later any debts will have to be paid, because some measures from the MFIs will follow for non-payment.
Clients have many different situations when it is not possible to make minimum payments on loans.
What are the reasons for non-payment for microcredit:
- In case of illness of the borrower and temporary disability.
- If lost workplace or reduction in the enterprise, delay in payment of wages.
- was decided spontaneously and was not well thought out by the borrower.
- The borrower did not evaluate his financial capabilities, he issued another loan, which is logical to imagine an increase total amount monthly payment on all loans, and there is no way to cope with a high load on loans.
- There is simply no desire to spend your money on debt repayment.
- Some people engage in fraud, apply for loans and already know in advance that they are not going to pay for it.
- Also, many citizens think that MFIs are illegal organizations and think they can stop paying at any time.
If you approach this issue competently, then you can solve the problem together with the MFI, because unforeseen situations happen that do not depend on the borrower.
Algorithm of actions in case of impossibility of payment
If it is impossible to pay a microloan, you should not avoid communicating with the MFI in which the loan was taken. You need to contact the department to resolve this issue.
Often MFIs make concessions. You need to write a statement stating the reasons for the impossibility of repaying the loan.
And ask for a delay of a few weeks. If there is not enough money to pay, you need to pay at least 30% of the payment.
Also, to plan your budget, you need to adhere to forced measures:
- Compile for yourself. All interest rates, monthly payments, etc. should be taken into account.
- Plan to spend your income. You need to clearly monitor where the money is spent, and start saving a little.
- Reduce waste.
- Increase income. When there is no way out, people look for a second job, part-time job, etc.
- Pay off debt.
Not many people also know that if the annual interest rate is more than 600%, then you can file a lawsuit, then the court may decide to reduce the rate.
Prolongation
A loan extension is an extension of the term of a loan. During this time, only interest is paid for the actual time of using the loan.
For this option, you should sign an additional agreement with the MFI to extend the loan agreement.
Restructuring
Debt restructuring. What is the purpose of this service. Most often, they extend the loan term, reduce the minimum payment, but the final amount will be much larger than before the restructuring.
With this service, the amount of delay and fines are written off. Some organizations that cannot offer an extension to their clients offer such an option as restructuring.
Many companies make concessions to clients if they have serious financial problems, and can prove this documented.
Video: what happens if you pay loans a little bit
To carry out this procedure, you should contact the MFI branch with a written application addressed to the company's management, which indicates the reason for the impossibility of payment. Attached to the application documentary evidence of this fact.
Refinancing
Refinancing - in other words, refinancing, when one loan is issued to pay off another. An excellent option if MFIs refuse to prolong and restructure.
For this, you can contact any MFI. The MFI simply issues another loan, and with this money the borrower pays for the problem loan.
This will new loan, a new contract, with a new payment schedule, and with different interest rates. One MFO "Ruskomfinance" makes a transfer of money according to the details of the loan that needs to be paid.
If they call every day
In case of non-payment minimum payments, MFI employees will call the borrower with a reminder of the payment.
Many are interested in the question whether credit organizations call every day. There is only one answer to this question - they have the right to call every day.
When signing the agreement, you give the right to use your personal data, so they will call, send messages, and send letters.
In the presence of fines and delays, and employees of the MFI, working with debts, legally notify borrowers about problem loans.
The only time when they are not allowed to call is from 22.00 to 6.00, and the rest of the time they can call with a reminder.
Or send to the addresses of registration / residence of employees who work with bad debts, which is an illegal act.
No other restrictions are provided by law. Collection firms do not have many opportunities to pressure clients, but often they go beyond what is allowed, they begin to threaten borrowers, borrowers' relatives, etc.
If you try to threaten, you can safely file a lawsuit in court, and provide evidence, recorded conversations, lists of threats, etc.
Soon they are going to submit a bill that will regulate the number of calls per day to debtors, relatives of debtors and others.
When threatening calls, it is imperative to answer calls, keep calm and be restrained, record conversations.
And you need to show the organization that there are no debt evasion, that the debt will be returned, but with the difficulties that have arisen, there is no way to pay.
Then in this case the court will make concessions to the client. Many people are not aware of their rights, and even afraid to receive calls from these employees, afraid to listen to threats and psychological pressure.
You need to understand that without a court order, no one will take away property for non-payment, no one will deprive of liberty for these violations.
If calls continue to arrive, threats and other violations, the organization does not want to go to a peace treaty, then you can safely file an application with the prosecutor's office for violations by credit organizations.
Payment Methods
In any case, you will have to pay the loan. If the organization does not make concessions, and cannot provide one of the services to solve problems, then you will have to look for other sources of finding money to pay the loan.
