How not to legally pay a loan? Cash loan: how not to pay
Making the next furniture, expensive real estate or a car on credit, many borrowers live the same day. This means that, being under the influence of credit euphoria, no one even thinks about what will happen tomorrow. What if you are fired from your job, are you losing your home, or is there no money left to pay the loan? What to do then? It is at this point that various options come to mind as to how not to legally pay a loan. What are these options and are they as legitimate as they are told?
Just declare your financial insolvency
For example, tell the bank that there is nothing to pay the loan. This advice can often be heard from friends and colleagues. What does this mean and how can this method be applied to the debtor so as not to go beyond the law?
To begin with, let's assume that you didn’t just decide not to pay off bank account debts, but haven’t paid them for some time.In this case, you have repeatedly appealed to representatives of the credit organization, which previously and made a loan, with evidence of difficult financial situation. Consequently, you can refer to the law “On the insolvency of individuals” in the client environment, which is “modern”.
When can we refer to the law on the bankruptcy of individuals?
This can be done under the following conditions:
- if your cash loan is not repaid within six months;
- if the loan amount is from 500,000 rubles;
- if your payment failure is proven in court.
However, it should be understood that each law has its own "pitfalls". Therefore, even if through a court you manage to convince the bank of its own insolvency, this does not mean that you will not spend another penny.
Recall that from the moment of filing a lawsuit for claims to the debtor is given 31 days. And this means that if you had debts not only to this bank, then all of your creditors will be able to “remember” about the outstanding debts during the aforementioned period. Of course, if they do not have time to do this, their claims after the trial will not be considered.
Negative points of declaring bankruptcy
In addition, in the course of the court proceedings, the amount of your debt will increase (as creditors circulate). Ultimately (after the trial) you will have exactly 5 years, during which it will be necessary to pay off all debts. If this does not happen, you will be declared bankrupt.
It is also worth understanding that if the bank realizes that in reality there is nothing to take from you, it will insist on selling your property and all your valuable things. Therefore, if you have already tried all legal ways not to pay a loan and have chosen this one, get ready to part with your assets legally.
"Do not pay and ignore the treatment of the bank"
The second option, according to many borrowers, regarding how not to legally pay a loan is simply to ignore bank employees. For example, you took a loan, money spent, and are not going to repay the debt in principle. In this case, it is not worthwhile to “lower everything on the brakes”, since avoiding the problem is not the real elimination of it.
In addition, if your initial desire to not return the loan (under the article “Fraud for the purpose of profit”) is proved in court, this is fraught with the imposition of an administrative fine,correctional work and in advanced cases - imprisonment for up to two years. In other words, to take a loan and not pay - it is impossible. It is illegal. And fraught with legal proceedings, is clearly not in favor of the borrower.
Statute of limitations: solving all credit problems
Hope for the limitation period is considered another shaky option. According to this law, if within three years (since the formation of the debt) the debtor has not met with representatives of the bank, and they have not sued him, then the loan can not be paid. In other words, the term of credit commitments has expired, and the bank didn’t remember it in time, therefore, it is not necessary to pay debts. But it is not so.
First, expect that a credit institution simply forgets about you and forgives a cash loan is not worth it. This is something from the realm of fantasy. Recall that after a delay arises from a borrower, representatives of the lender first send a written notice, then call with reminders, and then sell your debt to collectors.
What tricks is the bank going to?
Every bank knows about this law (meaning the limitation period) and therefore often goes to tricks. For example, trying to deliver a written notice to you not by mail, but on a personal visit.Carefree borrower opens the door and communicates with the bank representative. Consequently, the rule about the lack of contact with a financial institution does not apply here.
Another thing, for example, if you left the country at all and for three years do not appear at home. But here, again, a double-edged sword. The bank may sue you and bring you under the article "Fraud in the field of lending", and this is a completely different story. And, of course, if you are not at home, your family and relatives, as well as guarantors and co-borrowers (if they were involved in obtaining a loan) will take the whole brunt of it. This, too, needs to be understood.
Can I not pay the bank at all?
Some lovers of "easy money" believe that they can not return the borrowed funds to the lender. Therefore, in legal forums there are often questions about whether you can not pay the loan?
But not everything is so simple. Recall that willful non-payment is a criminal offense. However, in this case there are exceptions, in particular, such can be attributed, firstly, the situation on loans that has developed on the Crimean peninsula (after March 16, 2014), and secondly, the problem with loans in Donbas and Luhansk region.At the same time, they both were interested in the question of whether to pay a loan to Privatbank and other creditors or not. In this case, they both faced a dilemma. And it’s up to everyone to decide whether to decide it or not.
When can I not pay a loan to a bank?
In addition, there are situations when a loan was issued in your name without your knowledge. For example, your passport was stolen. In other words, you personally were not present at registration of a loan. But even this must be proved. So, there will be a court and legal proceedings. Also, the loan agreement may be terminated for another reason, for example, when it was concluded with a mentally unbalanced borrower who does not give a report to his actions. However, this fact will need to be proved in court.
Another exception is the death of the borrower. In this situation, the loan agreement will be terminated (if it does not say about transferring the amount of the debt to the relatives of the deceased).
In other situations, for example, when you simply do not want to pay the bills, you still have to return the money to the bank.
I do not pay loans: the consequences
If you suddenly decide not to pay the loan, what should you be prepared for? First, to regular calls and letters from representatives of the lender. Secondly, to trial.In this case, there may be positive moments, for example, you may be reduced the amount of interest (as a rule, banks abuse the charging of penalties and interest). From the negative - according to a court order, property can be taken away from you (with its subsequent sale “under the hammer”), a ban on traveling abroad, a damaged credit history.
Thirdly, the bank can sell your debt collectors. Then, in addition to standard calls to your address (and your relatives) may receive threats. The process of returning the funds will be delayed for years and may eventually also end in court.
And, of course, all this time, the staff of the collection agency will shake your nerves. Such pressure usually has a large psychological burden.
Therefore, you should not allow delinquency and spoil relations with a credit organization. And so that there are no problems in the future, carefully study the loan agreement before signing it.
Can you trust firms that promise to pay a loan for you?
Information on how not to pay a loan legally often flashes in advertisements of some dubious companies.So, some of them promise to take on the payment of your loan to the bank. The essence of the work of such organizations comes down to the following: first, you give the representatives of the company all the information concerning your debt; then they (for a certain reward) promise to pay the loan for you. Should we believe them?
To begin with, it is illegal to reissue any documents, including the loan agreement, without direct participation of the bank. In this situation, you not only do not get rid of your “credit yoke”, but also lose a certain amount of money (payment for the services of the company).
In addition, being deceived by the sweet promises of the "benefactor", you stop paying the loan (in the hope that the company will pay for it), and as a result you get a debt to the bank. So, as they say, loan repayment is a matter of honor. Hence the conclusion: you can not trust your credit debt to third parties.
What can be done with the debt, if you can not pay the loan?
If you do not have the opportunity to pay a bank loan due to certain circumstances, you should not immediately look for workarounds and legitimate ways not to pay the loan: go to the bank right away.There it is necessary to state the essence of the problem, as well as try to find a way out of the current situation together with a representative of a financial institution. For example, a loan manager may offer you:
So, the bank can make a new payment schedule taking into account your level of income at the current moment (for example, if you have lost your job and your monthly income has decreased dramatically). It may also be decided to sell your collateral. For example, you left the car as a security if the loan conditions provided for it.
Alternatively, you can consider refinancing the loan. This means that it makes sense to contact another credit organization (different from yours) and take a new loan, but on more favorable terms. Such loans are issued by Sberbank of Russia, Raiffeisenbank, VTB 24 and others. Sometimes banks can lend to both their customers and others. For example, Raiffeisen offers loan programs for refinancing expensive loans from its own clients. Pretty comfortable, isn't it? And “Uniastrum Bank” provides an opportunity for “foreign customers” to get new loans on unsecured loans.
It is also worth mentioning that refinancing is equivalent to a new debt. Consequently, you are waiting for a second procedure for applying for a loan.
But it is only necessary to apply to the bank if there are real problems with payment due to illness, loss of a breadwinner, loss of work, etc. And, of course, in this case you should have all the necessary certificates and documents confirming the reason for non-payment . Again: here you do not need to think about how not to legally pay a loan, on the contrary, try to find ways to pay it off as quickly as possible.