★What to do when there is nothing to pay a loan. Loan refinancing

★What to do when there is nothing to pay a loan. Loan refinancing


Hello. In this video you will learn WHAT TO DO, WHEN NOTHING TO PAY A LOAN. Subscribe to the channel and listen carefully. BEFORE EVERYTHING – Keep calm This tip seems obvious. But in fact, many begin to panic in such a situation. Especially if only a few remain before payment days. Under the influence of stress, people commit completely illogical acts: they do not answer calls from bank employees disappear, cease to repay a loan in principle, even when funds appear Remember that you have many ways to solve this problem. for example – Refinancing a loan – issuing a new loan in another bank to repay the current. When applying for this loan, it will be clearly stated which amount will be used to repay which loan in which bank. In other words, you can turn to another bank with a proposal to refinance you on more favorable terms. If he agrees, it will be refinancing. loan. Refinancing a loan can help if the bank does not agree to the restructuring or when its conditions are unacceptable to you. But it makes sense only when the conditions for a new loan are better than the current one. Namely: the validity period of the new loan agreement is longer than the previous one, This will reduce the size of the monthly payment; effective interest rate should be lower (at least not higher); the bank should not introduce no additional fees. Refinancing can alleviate the problem, but will not solve it in principle. One way or another you will have to repay the loan. Refinancing is also sometimes used to combine several loans into one. Serving one loan is easier than three or five, especially if they are in different banks. Try to negotiate a debt restructuring — revising your loan terms to reduce payments. Most often, the payment is reduced due to an increase in the term loan – for example, from 3 to 5 or from 5 to 7 years. But the bank will not stretch your two-year loan for 20 years. There may be other options for changing credit conditions. agreement – it all depends on the bank. For example, the provision of a grace period, when for a certain time you will pay only interest or, conversely, only the main debt. Or reduced payments – for example, in the next 2 months you will pay only half the regular payment, and in the next 2 months – 1.5 regular payment. Understand when you can pay the loan, and explain it to the bank. To make a decision, it’s important for the bank to understand when and where do you get the money from. If you plan that in a couple of months everything will work out and you can pay the loan (you are waiting for a job offer or your treatment will end), tell about it. But do not try to pass off as wishful thinking and gloss over prospects. The deception will quickly open and the most important thing will disappear in relation to you from the bank – trust. Subscribe to the channel and share this video with your friends.

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