About a quarter of borrowers take borrow money to cover spending on momentary desires, that is, things from which you can either give up, or save up for them yourself. The situation is complicated by the fact that a substantial part of them are not commensurate with their financial capabilities with the amount of the monthly payment. Many are not willing to move to a more economical regime, indulge in the familiar. As a result, in the event of a crisis, these customers primarily fall into the risk zone. They were the first to contact the banks to provide them credit vacation.
unfortunately, many consumers took “vacation” as a legal way not to pay my mortgage for six months. In case if the borrower with the documents in hand to prove that his income in the previous month decreased by 30% compared to the previous year, payments are suspended for a period of up to six months. However, there is one “but” – during vacation credit interest on the loan, albeit at a reduced rate, but continue to accrue, and the total amount of debt increases. It is assumed that during this time the borrower will solve your financial difficulties and will continue to make payments as planned, including during the grace period. And because vacation credit is a tool to get away from default for those who really were in a difficult situation.
Only a third of Bank customers carefully read the contract and its annexes. About 40% of the applicants with a request to provide them with the vacation credit was refused.
the Causes are various but most often it is a discrepancy to law requirements. Therefore, banks started to offer borrowers their restructuring program. As it turned out, not all of them are gentle, like “vacation”, including because borrowers have nowhere to go.
Which you should read carefully the terms and conditions, to analyze each item of the supplementary agreement? What it is necessary to calculate how much he’s going to make the debt – no matter whether on vacation or restructuring programs? To avoid self-deception is simple – you need to read everything you sign. And to do calculation of new conditions though and by hand and on paper, but comparing the amount of overpayment here and now, not in three months.
If the loan is not taken to immediate needs and necessary things, it is unlikely to take a decision alone. Statistics show that among couples debtors several times less than those who are divorced or have not tied the knot.
Initially the decision to loan should be taken together, especially if we are talking about large sums. Even if the loan takes single to pay for it in the end, all together (how else to explain then, why suddenly you have to pay for the loan, rather than buy something that expected close). And even ��if the decision to take a loan total, monthly payment may not exceed 30-40% of the salary of one family member, because the second salary is your “safety cushion”.
Sometimes the rejection of the little frills allows you to save a decent amount and repay a loan. And therefore it is better to take credit for maximum term with a minimum payment for the safety net and to make payments by 10-25% more than for quick repayment. This is your secret plan, which banks and other lenders don’t need to know!
