Many accredited citizens are wondering, and what will happen if delaying payments?
This is a certain period for which the bank allows the borrower not to make payments. Previously such services, banking organizations were not provided, but recently these services are popular. Another name of this service is credit holidays. It exists in order for the borrower in the case of a complex financial situation, penalties were charged, and the credit history did not have an overdue payments.
It all depends on the bank. The bank can give permission, and may not be issued. This service is not mandatory, therefore the bank makes a decision at its discretion.
To get a delay, you will need to provide the Bank officially confirmed documents, based on which it will be seen that at the moment you cannot fulfill your monthly credit commitments on time, or may not at all.
After the provision of confirmed documentation, you will need to write a statement so that the bank considers it and made its decision.
If possible, we recommend collecting documentation to the maximum — this may be a certificate from work, certificates from medical institutions, certificates of income. Also, when receiving a delay in payments, you must explain to the bank that the situation is one-time, and in the future you do not allow this.
Delay are divided into several varieties. Defret on the debt itself and percentage — in this case, you will not need to make payments at all. But it is worth considering that the maximum period you can provide no more than 3 months. There is another not particularly popular type of delay — you pay only the principal debt, excluding interest.
There is such a type of delay not often, but it is most profitable for the borrower — you have reduced overpayment over the loan agreement. And the last type of delayed payments is the payment of only the percentage of the loan. In our opinion, this is the most disadvantageous version of deferred payments.
When issuing delayed payments, and pay only the percentage of the loan agreement, you will increase the overpayment amount throughout the loan.
Everything is quite simple. Percentages are accrued for the amount you have to pay off. Accordingly, the amount of the main loan will not decrease, which means the percentage will be charged to the entire amount. Because of this, there is still a big loan overpayment.
Banks offer another option, to improve the situation — restructure your debt. If you have a hopeless situation, it is clear that you will not be very inflated. In the case of restructuring, your monthly payment will become less, but the debt itself will increase, or the return period will increase. Accordingly, it is almost always not profitable for the borrower, since overpayment is increasing throughout the loan.
We hope the article was interesting to you.