|What happens if you do not repay the loan to the bank?|
In the life of every man, sooner or later there comes a time when no longer enough money. This "moment" a lot of legs, each of which comes at you much stronger earlier, pushing deeper into the bottom of the financial abyss. There are several ways around this momentous event and do not get into the tenacious paws needs. One of them - is to take out a bank loan. Lending is becoming very popular in recent years, but few think about what terrible consequences can comprehend the borrower in the event of his inability to repay the loan. On this and would like to talk about today.
When a person takes a large loan in the bank, he, for some reason, a great believer in the cloudless and the stability of their financial future. My friends, do not be fooled! Absolutely impossible to plan your income for years to come. If you decide to take out a loan, try to anticipate all the possible cases, and cases such great variety. For example, you can get sick, and our medicine will cure your common cold so that you will lose any chance not only to breathe through the nose, but also fully work. You may, God forbid, hurt, because lights on our streets - it's a great luxury (I'm not about Moscow), and all sorts of scumbags are found in abundance. In the end, you just lose a good job. Against all these troubles, there is one panacea - it's insurance (including "loss of income"), if you insure your life and health of a large amount, the insurance company (or you are at the expense of the insurance) itself will pay the bank for the outstanding credit.
If the money to repay the loan over, and no insurance you do not, then immediately (!) Run to the bank and tearfully begged the Lord bankers to postpone payment of at least a few months without penalty. Most often, banks with a rare sympathetic to the grief and go to meet the client. In case you did not bring respite anticipated revenues, there are two possible scenarios: first - you go to the bank, announces its full insolvency and voluntarily sell the collateral; the second option is more dramatic - you decide to hide from the bank, naively believing that it will save you and your property.
If you have surrendered voluntarily, the bank will not insist on the immediate sale of collateral, and will give you up to six months at this time. Keep in mind that buyers seek to bail you'll do, the bank will give you only agree to the deal, and his representative may be present during the transaction. While you will be selling your mortgage, the bank will continue to charge you interest, so that the faster you will sell your property, the better.
If you are on the run, then the bank will sue where, uniquely, is successful. In this case your presence at the trial is not required. Then you come to the wicked, bailiffs, all costs will describe and take away your property, then it will be sold at auction (sale of collateral, by the way, may occur without notice to the Borrower). Such a transaction may be revoked only if you can prove that they are not in court for a good reason, such as unwell. If as collateral to sell your apartment, you are in for 10 days are required to release it, otherwise the new owner will come with the same evil and bailiffs to evict you literally on the street (on the new Housing Code is quite possible)!
After the sale of the collateral the bank can afford to take only the portion of money that you owe as of principal plus interest and possible penalties. The remaining part you get back. This is another argument in favor of voluntary surrender, as in the case of the sale of the property by the court of its market value is reduced by about half. Plus, you will pay a huge penalty to the bank for the delay (to the fugitives no mercy!), And for costs and expenses legal costs, commission bailiffs (7% of value), the Commission for pre-valuation of the assets and the organization of the auction.
In general, remember that when you take a loan, you take on someone else's time, and have to give her and for all.
Take care of yourself!