What is restructuring and renewal. Bank loan restructuring: reasons, conditions, application sample and application submission

With a noticeable drop in income, frequent delays in loan payments, you can get out of the situation by changing the terms of the loan.

In the banking sector, this concept is called debt restructuring on a loan.

What it is, and what features are there in changing the terms of a loan agreement, and will be discussed in this article.

Loan restructuring is a change in the clauses of the current loan agreement to reduce the burden on the borrower in financial distress. Such changes include debt deferral, loan maturities, currency change, interest rate revisions and other measures.

However, not all banks willingly agree to grant such a concession to a client. To increase the chances of success, anyone who wants to change the terms of their loan needs to know under what conditions debt restructuring is possible, what methods of persuading the bank are most effective and what pitfalls can be encountered in this matter.

To begin with, let us once again draw your attention to the fact that debt restructuring is not an actual reduction in it, but only a revision of the terms of its repayment. It is possible to obtain permission to change the terms of the loan agreement in many cases, because the bank is also interested in returning its funds and making a profit, and is ready to wait a little longer than originally agreed.

Usually, an increase in the maturity of a loan debt entails an increase in debt, but due to the changed interest rates and longer payments, the burden for the borrower does not seem as unbearable as it used to be.

What is restructuring for?

As experts advise, you should contact the bank with a request to restructure the loan debt immediately after you feel that paying off the debt in the current or next month will be an impossible task.

The most obvious examples of when and why a loan restructuring is needed: dismissing a person from work or going on a long sick leave. In such cases, it becomes clear that in the near future there will be problems with money in the family budget, so you should contact the bank that you have changed the terms of debt repayment. There is nothing shameful about this: bank employees are accustomed to such customer requests and this is a common thing for them. The main thing is to have time to submit an application before the loan is overdue, so the chances of debt restructuring increase.

By reducing the loan load, you can solve several impending problems at once:

Don't put a "dark spot" in your credit history.
Avoid litigation that will put an end to your credit history.
Save personal property from foreclosure.
Honestly repay the entire loan amount in the new terms.

Banks themselves are in many ways interested in restructuring clients' credit debts, as this helps to reduce the number of problem borrowers who incorrectly calculated their financial capabilities.

Banks have a list of customer groups whose credit debts can be restructured. These include:

Employees dismissed due to the closure of the company or being laid off.
Workers who have been officially notified by their employer of a pay cut.
Individual entrepreneurs, whose business has suffered significant losses.
Holders of foreign currency loans affected by the devaluation.
Customers affected by a major accident or natural disaster.

Please note that membership in any category of clients must be confirmed by documents!

How to restructure loan debt

Registration of credit debt restructuring takes place in several stages:

Filling out a questionnaire in the form issued by the bank. It must contain information about the loan, monthly payments, the reason for the need to restructure the debt. You also need to inform the banking organization about your income and expenses, indicate the available property. If you need to restructure a mortgage, the bank will ask you to submit documents for real estate.
Transfer of the completed questionnaire to the department for work with loan debts.
Meeting with the bank manager. The employee will ask you to repeat everything that is written in the questionnaire, after which he will help you choose the appropriate debt restructuring option.
Write an application and attach documents to it (loan agreement, copy of passport, certificates indicating changes in income).
If the bank has approved the restructuring of the credit debt, then a new agreement is drawn up, which specifies the new credit conditions.

Before the final signing of the agreement, be sure to check that the previous agreement has been closed and that the new payment terms are suitable for you. If the bank insists that you first sign a new agreement, and only then look at the payment schedule, you should not agree. Always ask for the entire list of documents at once!

If you receive a refusal to restructure a loan debt, ask the bank to do so in writing. This step helps in case of further litigation. Your obvious desire to pay off the debt and the bank's confirmed actions aimed at preventing this may be the reason why the court will oblige the banking organization to reconsider the decision.

What are the restructuring programs

Knowing the specifics of different restructuring programs will help you choose the appropriate option yourself, and not rely only on the opinion of a bank employee.

Method number 1. Prolongation of the loan agreement

This method is an increase in the loan term and a proportional increase in monthly installments. If there were penalties, then they will also be distributed evenly over the months. Usually, the maximum term for extending the loan agreement does not exceed the initially maximum allowable loan term in the organization. For example, if a consumer loan can be taken for a period of no more than 5 years, then upon signing a contract for 3 years and a subsequent request for restructuring, you will be able to extend the term for only 2 years.

Real life example:

The person took out a loan in the amount of 200,000 rubles for a period of 2 years and at 27% per annum. The amount of monthly payments is almost 11,000 rubles, and the overpayment would be 61,000 rubles. After 6 months, he was fired from his job, he was not able to continue to pay off the loan on such conditions, and decided to apply for debt restructuring. For six months, he was able to pay off the main debt only 10,000 rubles. The bank offered the client to roll over the remaining 190,000 rubles for 1 year without delay. It turned out 8,700 rubles a month, which is already better, but the total amount of overpayment will be 74,000 rubles.

Method number 2. Credit Holidays

This method is a deferral of the payment of the principal for a certain period (1-24 months). During this period, the client pays only interest on the debt.

For the borrower, this is the most unprofitable option, since after the postponement everything returns to its place (however, the overpayment increases, since it is increased for the entire extended loan period) and it turns out that the person gives the credit institution one or more additional interest payments. Experts advise using this restructuring system if you are sure that you will find a good job soon or raise your business - then this will be a justified step.

Real life example:

The client took out a small loan from Sberbank, but monthly payments are still tangible for him. Before the New Year, the client receives an SMS message: "For just 1,000 rubles, you can take a delay of 1 month of payments, and the total loan term will also increase by only 1 month." The person decides to use it to buy gifts for the family for the holiday. A specialist at the bank assured that the total overpayment would increase, but insignificantly - the agreement was signed. Only then was the client given a look at the payment schedule, which indicated that the total overpayment had increased by 20,800 rubles. This is an extremely unprofitable transaction for the client, however, there is no way to cancel it - the contract has been signed.

Method number 3. Reduction of interest under the contract

This method is used in rare cases. For example, during a sharp decline in the refinancing rate by the Central Bank. It is allowed to use only those borrowers who for the first time made a loan delay. Usually banks offer this method of restructuring to people who have taken out a mortgage.

Real life example:

The person has been paying the mortgage since 2014, the interest rate is 13.75%. In August 2017, he decided to apply to the bank for a rate cut. The application was considered for 40 days, but in the end, after several disputes, the rate was reduced to 12.5%. They reported that the rate is not lowered below 12% in this bank, so we can say that the result is good.

Method number 4. Change of loan currency

This method of restructuring is relevant for those who repay the loan during the period of currency devaluation. For example, a similar time was in the period 2014-2015, when the owners of mortgages in foreign currency received a loan load that was almost twice as high.

For a credit institution, changing a loan in foreign currency to Russian rubles is an unprofitable business, therefore the decision to change the currency usually comes from the bank's management, and this should be influenced by serious external factors (for example, the same crisis of 2014-2015).

Method number 5. Penalty write-off

With this option, all fines and penalties can be written off from the client. To do this, it is necessary to provide substantial grounds for the delay in payments on the loan, or for the court to declare the individual bankrupt. If the bank decides that the client will be able to pay the remaining debt without existing fines and penalties, they can be written off. However, the most common solution is the payment of a fine, especially in the case of an extended contract.

Real life example:

The client had a delay in Sberbank since 2016, as he was hospitalized, and a lot of money was spent on an expensive operation. In December, I managed to come to the bank and apply for the restructuring of the loan agreement. Being an informed person, the client immediately asked to write off the penalty and take into account the next payments as late payments. The bank approved the application in March. It was decided to write off the fines, you only need to pay interest for the "use of money" for the last six months (in addition to the main debt and current interest, of course).

Method number 6. A combination of several ways

In some cases, the bank may use several methods of restructuring. Prolongation can be combined with write-off of penalties, and currency change - with "credit holidays". This is a non-standard restructuring solution, and they come to it as a result of negotiations between the bank and the borrower.

Real life example:

At 55, the client decided to take out a consumer loan, but soon his house was flooded and he had to move to a rented apartment. Because of this, the payment of monthly payments became impossible, this went on for 3 months. The bank got into the position of the client and did not apply penalties, and also extended the term of the loan with payment of only interest within 6 months. After this time, the person adjusted his business and was able to continue paying off the loan, albeit by 1,300 rubles a month more.

Method number 7. With the help of state support

This method is used to help borrowers who have a mortgage loan and are on the verge of financial collapse.

For example, according to the mortgage restructuring program from the Agency for Housing Mortgage Lending, operating from 2016 to 2017, the interest rate was reduced to 12%. The state made an additional payment to the bank for the borrower in the amount of 10% or more of the loan amount, but not more than 600,000 rubles.

Real life example:

In January, the client applied to restructure the loan agreement under the AHML program. In early March, the bank's manager called and said that the organization was ready to write off 20% of the debt (almost 200,000 rubles). To do this, it was only necessary to bring a certificate from Rosreestr, originals of personal and apartment documents. One caveat - it was necessary to pay tax to the state for obtaining financial benefits.

How and which bank to choose

The restructuring procedure can be done in the bank where the loan agreement was originally signed. The credit institution has the right to consider the terms of the agreement in a different version at its discretion. When choosing which bank to contact, it is better to immediately clarify what changes can be made during the restructuring and the operation of the loan agreement as a whole.

But you can contact another bank if they offer more favorable conditions.

The bank you apply to repays your debt to another bank and signs a new loan agreement with you with more favorable terms for you.

Top 6 banks where you can restructure debt

What documents are needed

First you need to draw up an application for restructuring. The reasons for revising the loan conditions must be supported by the following documents:

Certificate of income.
Labor book, which indicates the fact of dismissal.
Documents confirming the client's incapacity.
Birth certificate of the child.
Help on the composition of the family.
The consent of the husband or wife to enter the terms of the mortgage loan.
Other documents confirming a decrease in the borrower's solvency.

Naturally, not all of these documents must be in your hands to approve the restructuring. Their list varies depending on your reasons for the decline in solvency.

Restructuring a loan agreement is an unprofitable business for the borrower, because in most cases the amount of overpayment increases. However, if you find yourself in a situation where it is impossible to pay off the debt on time, then you should seriously think about revising the credit conditions, albeit with a small overpayment.

Loan restructuring - a procedure that involves the revision of the terms of the loan agreement if the borrower has serious difficulties at the stage of debt repayment. Timely restructuring of an individual's debt makes it possible to reduce the amount of the monthly payment, reduce the financial burden and restore solvency.

Restructuring methods:

Change in the currency of the problem loan;
Correction of the schedule of monthly payments;
Decrease in interest rates and commissions;
Partial write-off of fines and other charges;
Extension of the contract;
Credit holidays - deferred payments.

The procedure involves the analysis by the creditor of the current situation in relation to the financial obligations of the debtor. Acceptable interest rates, amounts and payment schedule are calculated, with the help of which it is possible to restore the client's solvency. In fact, the very essence of restructuring is to find possible ways to reduce the risk of bankruptcy of a citizen.

Reasons for restructuring:

Sharp fluctuations in exchange rates for foreign currency loans;
Loss of the main source of income of the borrower;
Recognition of the debtor as incapable or partially incapable;
The occurrence of unforeseen expenses and material losses;
The borrower's use of maternity leave to care for a child;
Drafting into the army for military service in the RF Armed Forces;
The verdict of the court on punishment in the form of imprisonment.

Note! The decision on the possibility of restructuring is made by the lender individually. The organization has the right to demand documentary evidence of the financial insolvency of the borrower.

Loan restructuring documents

Each lender puts forward its own list of requirements for the client initiating the restructuring.

Main documents:

A copy of the borrower's passport (the original is presented at the time of signing the renewed agreement);
Documents confirming the existence of compelling reasons for restructuring;
Certificate of income, account statement or other document confirming the solvency;
An extract from the work book, a certificate from the employer or a certified copy of the employment contract.

After collecting the documents for restructuring, the debtor must fill out an application for the service. Banks suggest that you first draw up a simplified request.

Let's give an example of a simplified application for restructuring at Sberbank.

You can view and download the application.

To initiate the restructuring procedure, you must correctly fill out and submit an application along with a package of documents. After making a preliminary decision, employees of the financial institution will inform you about further actions.

At the stage of consideration of the application, a detailed explanation of the reasons for the deterioration in solvency may be required.

Sample application for loan restructuring, indicating the reason for insolvency

You can download a sample application here.

Restructuring as a bankruptcy procedure

If the bank refuses to revise the terms of the agreement, the borrower will retain the right to initiate bankruptcy proceedings with subsequent debt restructuring through the court. See Federal Law No. 127-FZ “On Insolvency (Bankruptcy)”.

According to the current legislation, debt restructuring in bankruptcy is carried out only after attracting a qualified expert - a financial manager. Who is obliged to develop an action plan aimed at restoring solvency and meeting the borrower's obligations.

This procedure becomes more popular every year. According to a report published on the Fedresurs website, in 2019 the courts declared bankrupt about 69 thousand Russian citizens, and in total, since 2015, more than 163 thousand. However, creditors at the end of the year managed to return only 3.5% of debts. Procedures were initiated in the amount of ~ 225.6 billion rubles, of which only ~ 8 billion were returned.

Features of debt restructuring through bankruptcy:

No lender's permission is required to renegotiate the terms of the problem contract. It should be understood that the new procedure for repaying debt during debt restructuring through bankruptcy proceedings is approved not by the creditor, but by the court. It is the court that changes the debt repayment period and establishes new rules for the performance of debt obligations.

In order for the court to consider an application for bankruptcy status, the debtor must have a stable income, the amount of which is sufficient to fulfill obligations within 36 months. If the amount is insufficient, the financial manager has the right to initiate the procedure for the sale of the bankruptcy property. Based on these conditions, new terms of debt repayment will be calculated.

Also, the debtor must not have a criminal record for economic crimes and be declared bankrupt for the last 5 years.

A seizure is imposed on bank accounts, deposits and deposits, but the debtor is guaranteed to receive part of his own earnings in the amount of the subsistence level and the necessary funds to support dependents.

The financial manager opens a special account where the bankrupt's wages, money from the sale of his property, etc. are received. This account is also used to pay for court costs, the services of a manager and other specialists, and pay off loan debts.

Compulsory credit holidays for up to four months are automatically granted, during which the debtor is not required to make any payments. This makes it possible to restore solvency.

The debtor officially receives protection from the actions of the collectors. The process of compulsory debt collection is being suspended by bailiffs. Claims submitted to bankruptcy are reviewed by the financial manager.

The work of the financial manager is paid. The cost of services is from 25,000 rubles.

A temporary ban on leaving the country is possible.

Pros and cons of restructuring

The debtor gets the opportunity to improve the financial position, and the credit institution reduces the risk of bad debts.

Benefits:

Restoring the borrower's solvency. Competent correction of the terms of the agreement will reduce the level of payment burden;
The likelihood of partial or complete write-off of accrued interest and penalties for late return;
The procedure of forced debt collection is excluded;
Maintaining a positive credit history (only if the bankruptcy procedure is not initiated).

Along with the pluses, there are also minuses. Before using the service, you should familiarize yourself with the possible risks and difficulties that the debtor may face.

Disadvantages:

The total overpayment on the loan increases after the extension of the original loan term;
Reduces the likelihood of approval of a restructuring application in case of low income;
Problems with obtaining new loans;
Absence of the option to refinance (combine) several problem debts.

Summing up

The indisputable advantage of restructuring for the borrower is the reduction in the amount of the monthly payment and the restoration of solvency. But such a procedure leads to a significant total overpayment of the loan.

Let's give a simple example:

You have a loan of 500,000 rubles, the repayment period is 36 months (3 years), the rate is 15% per annum. The annuity (fixed) monthly payment in this case is 17 333 ₽, and the total overpayment on the loan is 123 976 ₽ (that is, you will give in total 623 976 ₽).

Now we will increase the repayment period to 60 months (5 years), leaving the same amount and annual rate. We receive payment of 11 895 ₽ per month, which is significantly lower, but the total overpayment is already 213 698 ₽. Draw your own conclusions!

In addition to the obvious profit for banks, the restoration of the borrower's solvency is necessary for this reason. In simple terms, according to the requirements of the Central Bank of the Russian Federation, banks are required to have a reserve for overdue and impaired loans. This reserve is formed at the expense of the bank's own profit. Thus, the more overdue and impaired loans in the bank's loan portfolio, the more the amount of the reserve is needed and, accordingly, there are less free working capital that can be profitable.

Credit restructuring is a change in the terms of an existing loan agreement (extension of the loan term, deferral of debt repayment, reduction of interest on a loan, exchange of currency) to facilitate debt repayment to borrowers in difficult life situations.

When revenues have fallen, delays in loan payments become commonplace, debt grows like a snowball and there is no way out of this situation, the best option may be to change the terms of the loan.

Not every bank in such a situation will willingly meet the client halfway. To increase your chances of success, it will be useful to know what credit restructuring is, under what conditions it is possible, and what are the ways to convince the lender to restructure your loan.

Restructuring: what it is and how it differs from refinancing

Changes in the terms of the loan agreement (namely, this is restructuring) is designed to make it easier for the borrower to pay off the debt. We emphasize: not to reduce the loan burden, but to make it possible to repay the loan in a difficult life situation.

The bank is interested in repayment of the loan no less than the borrower. And also in not to lose. Therefore, in almost all cases, restructuring entails an increase in the cost of a loan for the borrower, but due to changes in the conditions, this increase in cost, and the payments themselves are not felt by the client as excessive.

The difference between restructuring and refinancing

	Restructuring	Refinancing
The essence of the process	Changing the current loan agreement in the presence or threat of delays.	A new loan to repay the old one (one or more). Delays can lead to rejection.
Bank	Only the one where the loan agreement is concluded.	Only another bank (banks usually do not refinance their loans).
Terms	More often - a rise in the cost of a loan due to an increase in overpayment with an increase in the term, compensation for interest in "credit holidays", as well as penalties for late payments.	The new loan is taken on more favorable terms than the refinanced one.
Additional features	–	Consolidation of several loans into one.

When restructuring is required

For example, if you were fired from your job or you went on a long-term basis. There is nothing to be ashamed of: for bank employees such requests from borrowers are common. As long as you are not overdue, there are more chances to restructure the loan on decent terms.

Another thing is that not every bank will agree to change the parameters of the loan.

The bank itself turns to the client with a proposal to change the terms of the agreement if there is a delay (usually from two months), and the client does not have property that could be collected in order to pay off the debt.

Here are a few conditions without which your restructuring application will not even be considered:

documented good reasons for the borrower (a sharp decrease in income, dismissal due to the closure of the organization, etc. - see the full list below);
the client has not previously restructured and has not (using the service "credit holidays" in its different guises is also taken into account, so be careful);
before the current loan, the borrower had no delays in payments;
the client's age does not exceed 70 years.

In some banks (VTB24, Alfa-Bank and others) a prerequisite for restructuring may be a two-month delay on the current loan - clients are wrapped up if they come with a request to change the terms of the agreement earlier.

How can credit restructuring benefit?

By reducing the monthly loan burden, the borrower is able to:

not to ruin irrevocably (usually data on delays of more than 2 months are transmitted to the National Bureau of Credit Histories);
avoid litigation with the bank (for credit history this is a mortal sin, and few people like to participate in litigation);
keep your property from compulsory collection;
repay the loan at the new date.

For the bank, restructuring is also a positive phenomenon, since it allows to reduce the number of problem loans (the presence of a large number of loans overdue for more than 120 days may become the basis for checking by the Bank of Russia and for revoking the license).

Whose loans can be restructured

Banks have a list of customer categories that can be included in restructuring programs. Among them:

hired workers dismissed due to redundancy or due to the closure of the organization;
employees who are officially notified by the employer about the reduction in wages;
Individual entrepreneur whose business has suffered serious losses;
holders of foreign currency loans affected as a result;
victims of natural disasters and major accidents.

Membership in any of the listed categories must be documented. Any official documents are accepted, but preference is given to approved forms (, certificates from the employment center, and so on).

Life story

“My husband has two loans - in Sberbank and Raiffeisen, this year his salary was reduced, and I am on maternity leave. We can no longer pay 15,000 a month.

My husband went to both banks, but they didn't even count him anywhere: they said, they say, if you bring a certificate of salary reduction, then we will offer a delay of six months. And his salary is 80% gray, you can't prove anything. Now, apparently, we will look for other options. "

Several different rules apply when considering restructuring for mortgages. The factors here are:

housing bought in must be the only one;
net income for each family member (excluding mortgage payments) - no more than three;
there is no property that can be used to pay off loans (car, securities, real estate).

Video: Loan restructuring schemes

How the loan restructuring is processed

1 We fill out a questionnaire in the form of a bank. It contains information about the loan, monthly payments, and the reason why the borrower applies for restructuring must be noted. You also need to inform the bank about your income (provide a 2-NDFL certificate to assess the dynamics of income), basic expenses and available property.

When restructuring a mortgage, documents are provided for the purchased property. In addition, most banks provide an opportunity to choose a specific way to change the terms of the agreement. It is far from a fact that this wish is being realized, but one way or another, your opinion will be taken into account.

2 We send the questionnaire to the department for work with credit debts.

3 We meet with the bank manager, we repeat everything that we wrote in the questionnaire. We jointly choose the most suitable restructuring scheme.

4 We write a statement, attach documents (copy of passport, loan agreement, certificates confirming the change in income level).

5 In case of a positive decision, a new agreement is drawn up.It prescribes the restructuring scheme. Please note: if you had a guarantor under the restructured agreement, it is impossible to start the procedure and draw up another agreement without his consent.

Before signing, make sure that the previous agreement is closed (usually a corresponding certificate is issued), and that the payment schedule for the new document suits you. If you offer to sign first, then print the schedule - do not agree, demand complete information.

If you get a refusal, ask for it in writing with a reason. This sometimes helps in the subsequent litigation process. Your obvious desire to pay off the debt with a confirmed unwillingness of the bank to create conditions for this may become a reason for the court to oblige the credit institution to restructure the loan.

What are the restructuring programs

Method one: Prolongation of the loan agreement

The loan term will be increased by proportionally decreasing monthly payments. If a decision was made on penalties, they will also be divorced by months. Usually, the term for which the loan is extended does not exceed the maximum for a given credit institution.

If the bank considers that you are able to repay the loan without fines and other sanctions, you may be given such an opportunity. But more often the fine is given in installments, especially when it comes to prolonging the contract.

Life story

“I had a delay in Sberbank since October 2016 - I ended up in the hospital, underwent a serious operation, a lot of money was spent on medicine, and physically it was impossible to pay.

In December, I somehow got to the bank's office, submitted documents for restructuring. She asked to write off the forfeit and take into account the next payments on account of the overdue. They thought there for a very long time, approved only in March. The fines were canceled, only interest will have to be paid for “using the money” in these six months (in addition to the principal debt and current interest, of course). "

Method six: a combination of several methods

In some cases, the bank uses several methods of restructuring at once. Prolongation can be combined with the write-off of a forfeit, change of currency - with "credit holidays".

This approach does not apply to standard restructuring programs and arises as a result of negotiations between the bank and the borrower. He does not promise any benefits to the client, often negative financial consequences are summed up.

Life story

“At the age of 55, I took my first consumer loan, and it must happen that the house was completely flooded in the summer, I had to leave for the city and rent an apartment there while it was being renovated. Because of this, for three months he could not pay on the loan, but the bank got into a position: did not charge a fine, and extended the contract with only interest paid for six months. Since the salary is good, after these vacations I began to pay regularly, although by 1,300 rubles more. "

Method Seven: Restructuring Using State Support

This method is used to save mortgage borrowers from financial ruin.

For example, the mortgage restructuring program from the Agency for Housing Mortgage Lending (AHML), which operated from 2016 to March 2017, assumed a reduction in the loan rate to 12%. The state paid extra for the borrower to the bank an amount equivalent to 10 percent or more of the loan (no more than 600 thousand rubles).

At the same time, the usual programs were used: for example, the contract was prolonged at a rate of 12%, the difference between the bank's rate and the changed rate was compensated by AHML.

Or, the amount approved for the borrower was simply deposited against the mortgage, and the remaining payments were recalculated. It turned out to help 22 thousand borrowers, then the funds allocated for the state program ended. Now they are trying to revive the program.

Life story

“In January my wife and I submitted documents to the bank for restructuring under the AHML program. To be honest, I was sure that they would call and say: you figurines, Andrei Alexandrovich, pay further.

But in early March, a bank manager said that we had been approved for writing off 20 percent of the debt (that's 200 thousand!), We just need to bring a certificate from Rosreestr and the originals of our documents and to the apartment. Fly in the ointment: you need to pay tax to the state, because I kind of got a benefit. "

Frequently asked Questions

QUESTION: Already three times they refused to restructure on the grounds that in the past there were delays on the loan. I can't pay. How to force the bank to change the agreement?

- Refusal by phone or by prior request does not mean that you need to reconcile. As a rule, the answer is prepared for you by an ordinary specialist who strictly follows the instructions.

A resident of Yaroslavl achieved restructuring in the most difficult case (long delay, problems with confirming a decrease in income) due to the fact that convincingly, with reference to Article 451 of the Civil Code of the Russian Federation, he presented his arguments to the deputy head of the bank branch.

There are other ways as well. With a debt exceeding 500 thousand rubles, the borrower has the right, after 3 months of delay in payment, to apply to the court with a statement about. This will avoid fines and penalties, but the process itself is complicated and not convenient for everyone.

In addition, you can wait for your debt to be tried and restructured in court. It makes sense to wait if your bank does not sell "bad" debts (for example, Renaissance Credit does this).

QUESTION: I have a credit card with a limit of 200 thousand rubles. Can it be restructured?

- A mandatory monthly payment of 5-8% of the total debt is presented for repayment by credit card. And the faster you reach the limit, the more you have to pay every month.

Having found themselves in a difficult financial situation with a loan, many people try to solve their problem with the help of debt restructuring offered by the bank. This allows you to extend the term of the loan, reducing the monthly financial burden.

But, often, the lack of knowledge leads to the fact that after carrying out this procedure, the deplorable situation is further aggravated. Let's see what the restructuring of overdue loans is and how much it helps to ease the financial situation of the borrower.

When financial problems arise related to late payments, difficulties arise that gradually lead to litigation and debt collection procedures. In this case, the court, as a rule, orders the restructuring of the overdue loan of the borrower, which allows him to gradually pay off the debt.

The Lender himself can initiate the debt restructuring procedure if he does not want to bring the case to court and enter into lengthy litigation.

The key moment of loan restructuring is changing the terms of the agreement, the purpose of which is to reduce the financial burden.

An increase in the term of the loan agreement reduces the amount of the monthly payment, so that the borrower is able to gradually pay off the debt.

By agreeing to restructure the debt on a loan, of course, the bank makes certain concessions to the borrower, who is currently in a difficult financial situation and cannot fulfill its financial obligations under the contract. The reason for the revision of the main terms of the agreement is late payments or a statement from the client himself.

Restructuring can be initiated by:

The Borrower himself. Seeing that the financial burden of the monthly payment becomes an unbearable burden, the borrower may not allow a delayed payment, but immediately contact his Lender with a request to amend the agreement. If the answer is yes, this will avoid penalties.
Lender. If the client does not cope with his obligations under the agreement and admits late payments, the Bank may offer him to restructure the debt in one of the ways.

Differences between restructuring and refinancing

Many people confuse the two concepts of refinancing and restructuring a bad loan. Despite the general mechanism of action, these are two completely different financial instruments.

If it is connected with the full repayment of the first and the conclusion of an agreement for the second loan, then restructuring can be carried out only in the bank in which the loan was issued.

In addition, in order for the bank to agree to the procedure for refinancing the loan, the client needs to prove his solvency and, at least, not allow late payments.

Clients come to the decision to refinance even before significant delays appear, realizing that the monthly payment becomes an unbearable financial burden that the client cannot bear. So he turns to the bank with a request to change the terms of the agreement and reduce the amount of the monthly payment by increasing the loan term.

In this case, the client can apply both to his own bank with which he has a loan agreement, and to a third-party one.

Video. Debt restructuring

Reasons for loan restructuring

The reason for restructuring may be:

loss of monthly income;
dismissal from work;
loss of one of the breadwinners;
conscription;
a sharp deterioration in health;
disability;
financial market changes (currency growth);
various life circumstances.

Many families come to the decision to refinance, whose income level has dropped due to the crisis.

Fearing to allow a delay in payment, the borrower has an urgent need for refinancing. After all, a monthly delay threatens with severe penalties, and you don't want to be blacklisted by borrowers.

Yes, refinancing does not exempt from financial responsibility and does not reduce the amount of the remaining debt, but it allows you to repay it calmly, without penalties and damaged credit history. After signing a new contract, the client has the opportunity to extend the term. As a rule, banks increase the loan term, which helps to reduce the financial burden on the monthly payment.

Of particular interest in refinancing are credit programs with maturities over three years. This makes it possible to significantly facilitate the debt repayment scheme.

Speaking about the signing of a new agreement, this should be the main focus.

Unlike refinancing, a restructuring does not involve a new agreement. Only its addition is changed, which reflects the monthly repayment schedule.

The main differences are:

the presence of delinquencies and bad credit history can be a reason for refusing to refinance a loan;
refinancing can be internal and external. Any new lender can refinance an existing contract.
restructuring is carried out only in the bank in which the loan was issued.

Loan restructuring provides a good opportunity to avoid litigation in case of financial difficulties.

The reasons for the problems that lead to the need to revise the terms of the contract can be very different: from a sharp deterioration in the family's material condition, loss of basic income to health problems.

When making a request to revise the terms of the agreement (increasing the term to reduce the financial burden), the borrower has two goals:

calmly pay off the remaining debt;
avoid litigation.

What does debt restructuring give to a borrower?

With a slight delay and the client himself initiates the issue of revising the terms of the contract, the borrower can count on:

maintaining a positive credit history;
cost savings on litigation;
avoidance of forced debt collection.

We have already said several times that credit history is one of the main criteria for making a decision to issue a loan. Therefore, many clients fear a downgrade of their credit rating and deterioration in the quality of their history.

Of course, banks are not obliged to carry out the restructuring procedure at the first request of clients, and in order to provide such a service, they must see objective reasons. If the delay is admitted for no reason, just because the client has forgotten or is not required to pay the monthly payment, the financial institution may refuse to revise the changes to the terms of the contract.

Credit restructuring is beneficial to two parties. It helps the borrower to avoid a deterioration in credit history and wait out a difficult financial period. The creditor is to repay his debt.

If, after considering the reasons indicating the restructuring, the bank sees that this will only postpone the inevitable moment of another delay, then it may refuse to revise the conditions.

In this case, litigation cannot be avoided, but then the Court will already examine the objectivity of the reasons that led to the difficult financial situation and the impossibility of paying the debt.

Types of restructuring

There are several options for debt restructuring, but most of them are carried out only if the client himself initiated the renegotiation procedure.

Restructuring means any amendment to the agreement: maturity, schedule, monthly amount, interest or currency.

The main purpose of such changes is to stimulate the client to pay and prevent new delays.

The following restructuring options are distinguished:

For example, the total debt is 200 thousand rubles and, according to the terms of the loan agreement, the monthly payment is 11,183 rubles (subject to the conclusion of the contract for 24 months, 30% per annum). At some point, the borrower realizes that he is not able to give such an amount to the bank every month and asks the question to revise the terms of the agreement in order to reduce the amount of the monthly payment.

The bank agrees to change the loan term from 24 months to 36 months, which will reduce the payment to 7668 rubles.

As you can see from this example, two parties benefit from debt restructuring. On the one hand, the client does not allow late payments, litigation and does not spoil his credit history. On the other hand, the bank, going to the new conditions, receives an additional 24 thousand rubles per year.

Change in lending currency. This option was resorted to by the majority of Russian citizens in 2008, as the global crisis significantly affected the dollar exchange rate and put thousands of borrowers who took out a loan in foreign currency into a financial deadlock.

With the sharp fall of the ruble, many clients were simply unable to give loans in dollars, while receiving the main income in rubles. In this regard, banks willingly went to debt restructuring, converting the main currency of the agreement from the dollar (or euro) into Russian rubles.

Change in lending currency

The transfer was carried out at the national currency conversion rate on the day of the agreement conclusion. But in fairness, it is worth noting that this option of on-lending is less profitable for the bank and it does not always agree to such changes in the agreement, especially when the financial situation of the market is unstable.

Providing credit vacations. For a certain period of time (from one month to three), the bank releases the borrower from the need to pay the loan. However, the conditions can be very different. Either the Lender arranges a real vacation for the entire loan for a certain period, or partially exempts from payment of the "loan body". In this case, the client still has to pay the monthly commission and interest on the loan.

This option does not entirely imply debt restructuring, but rather allows the client to take a temporary financial respite in order to accumulate funds and in the future repay the loan without delays.

Some banks offer even more loyal conditions and allow the borrower to repay, on the contrary, only the "loan body" during the year. This allows you to reduce the bulk of the debt on which the interest is calculated.

Transfer of a loan agreement from a card account to a consumer loan. This allows the client to save on interest, since a consumer loan, as a rule, has a lower interest rate.
Reducing the loan rate. This option is partly related to the refinancing format and involves a change in the annual rate. But not all banks take this step, and only in the case of an ideal credit history.
Changing the payout structure. The entire debt is divided into three parts: the body of the loan, the interest under the contract, and penalties (if there have already been such for a late payment). It is beneficial for the bank to return the funds issued to itself as soon as possible, and only then to receive profit from the loan.
Writing off penalties for multiple delays. Of course, this is reflected in the potential profit of the bank, but it helps to reduce the total amount of debt, becoming an incentive to pay off the principal debt. Many banks go to such an approach with the aim of repaying the principal amount of the loan and receiving interest on the loan. Do not forget that none of the parties is interested in litigation, since this is associated with a large loss of time and additional material costs.

In addition, lengthy litigation may lead to the fact that gradually, and the Lender will not be able to recover even part of the loan issued. Of course, this trick is used by some borrowers who understand at some point that they are simply not able to repay the loan. But it is worth noting that this will have a sad effect on your credit history. In this case, the person will not be able to use the services of banks and other credit institutions in the future.

The option of writing off delinquencies and fines is a very rare practice. Banks usually resort to it only in the event of bankruptcy of an enterprise or by court order.

Combined option. Some banks use an individual approach to the client and offer a combined option, which consists in prolonging the agreement with a simultaneous change in currency, or with the provision of credit vacations for a certain period. Usually, this happens when the client initiates debt restructuring.

How is debt restructuring carried out?

With the option of initiating debt restructuring, the client is obliged to personally visit the bank branch by writing an application.

The document states:

Date and number of the loan agreement.
The total amount of the loan.
Monthly payment amount.
The amount of debt already paid off and the amount of the balance.
Date of the last payment.
Date of first delay (if any).
A feasible amount of a monthly payment that the client can pay to the bank to pay off the debt.

The most important stage in the issue of restructuring is the choice of the scheme for carrying out this procedure. It all depends on the individual situation and the same scheme cannot be applied to all clients.

For example, upon dismissal from work, a client may need a credit vacation, which will allow him to stabilize his family's financial situation for several months until he finds a new job.

The change in the main income is suitable for the contract prolongation scheme. The client still receives the main income, but at the same time he can no longer fully pay the amount under the agreement.

Despite the fact that each bank has its own restructuring schemes, in some cases the Lender can meet halfway and develop an individual scheme for the client, taking into account his difficult circumstances.

The following documents must be attached to the application:

passport (original and photocopy of main pages);
a copy of the contract;
the document that became the reason for applying for debt restructuring (a certificate from a hospital, a summons to the army, a work book with a dismissal note, a certificate from the Employment Center with a mark on registration, etc.).

The Lender will consider each particular case individually and give a decision on restructuring based on the document. With a large balance of debt and an obvious reason that caused financial difficulties for the client, the bank will make a positive decision to restructure the overdue loan.

The issue of restructuring for each client is considered by the Credit Committee and, if approved, the client is offered an additional agreement to the main agreement.

This is the main difference between restructuring and refinancing, where a new agreement with a new repayment schedule is signed with the client, and the debt under the current agreement is repaid by the bank.

How often can a loan be restructured?

The law does not limit the number of clients' requests to banks for restructuring loans.

Thus, for each loan agreement, the client can count on restructuring.

If in the past, after carrying out this procedure, the borrower again starts to miss payments without an objective reason, then in the future the bank has the right to refuse the client in this procedure.

All information and information on loans, payments, schedule and methods of repayment is reflected in the credit history, which is monthly transferred by the Lenders to RBKI (Russian Bureau of Credit Histories).

Banks refer to this information not only at the time of considering an application for a new loan, but also when considering an application for refinancing or restructuring. Therefore, after the bank's approval decision and amendments to the terms of the agreement, you should not miss monthly payments and spoil your credit history.

If the bank refuses to carry out restructuring, the Lender can:

demand early termination of the contract with full payment of the debt;
transfer the remaining debt to collectors;
file a claim with the Court.

What is the risk of late payment?

With the development of the banking market and the increase in the number of consumer lending, the number of overdue payments among the population increased.

This happens for various reasons. Sometimes they are quite objective: worsening financial situation, loss of income, deterioration in health, etc. But sometimes behind the delayed payments lies the dishonesty of clients, their indiscipline and simply financial illiteracy.

Before talking about the impact of restructuring on the credit history and the need for its implementation, it is worth mentioning how the overdue loan threatens the client.

Delay is considered a violation of the payment schedule according to the terms of the contract. Absolutely each loan agreement is supplemented with a payment schedule, which reflects the amount of the monthly payment, the structure and scheme of debt repayment.

Some clients believe that being late by one day and two weeks have different meanings in terms of violations of the terms of the contract.

At the same time, for the bank, even one day of deviation from the established payment schedule is considered a violation and, according to the terms of the agreement, the client may be fined.

Each bank independently determines the amount of penalties and the procedure for their calculation. In some cases, this may be a one-time commission for a late payment, and in some cases, a penalty will be charged every day until the debt is repaid at the moment.

The client can always see the specific amount of penalties in the agreement or in the tariffs of the banking product that the borrower chooses.

But penalties are the smallest part of a series of those troubles that await the borrower in case of non-repayment of the loan on time.

What does the client expect in this case?

Before you take such a serious step as restructuring an overdue loan, you need to clearly understand why you are doing it and whether such a procedure will really be a deliverance.

In theory, the procedure for restructuring or refinancing is designed to ease the financial burden in order to repay the debt by the borrower. In fact, everything is not so rosy. Many banks, promising attractive terms for changing the contract, involve the client in an even greater financial trap.

Ignorance of the financial and legal aspects of this procedure can lead to the fact that the client will simply not be able to pay the debt. In any case, the case will go to court, and then bailiffs will join all the troubles, who will receive alienation from the borrower of the debt.

To prevent this, you need to be very careful about the restructuring procedure and pay attention to the following points:

Method of restructuring.
Writing off penalties. If they are included in the total debt, it is possible to ask for a reduction in the fine or for the monthly penalty to be read out as a one-off.
it is necessary to immediately calculate the total amount of the overpayment on the loan in case of renewal of the agreement. If there are no more than 5-6 months left until the end of the contract, then it is better to find other ways to repay the debt and not to renew the loan contract.

It is difficult for an ordinary borrower to understand all aspects of restructuring. Often, favorable conditions of banks turn out to be an unbearable bondage.

Some financial institutions may refuse this procedure altogether, citing the debtor's bad credit history or other factors.

The best option in such a situation would be to contact professional law firms that help citizens to provide loans on favorable terms.

Video. What to look for before signing a contract?

Impact of restructuring on credit history

Many conscientious borrowers are so afraid of spoiling their credit history that they are afraid to apply to the bank with a restructuring application. Seeing no way out of a difficult financial situation, they take out new loans to pay off old ones and drive themselves even more into debt.

Let's find out how the refinancing or debt restructuring procedure affects the client's further credit history?

Of course, absolutely all information about the loan, changes in its conditions, the reasons that led to these changes will be reflected in the client's credit history.

All this information is kept in a single national bureau and absolutely all Lenders turn to it before agreeing on a loan. But the deterioration of the credit history due to refinancing or restructuring can be avoided if you independently initiate the issue of revising the terms of the agreement, without waiting for late payments and penalties on them.

But if you contact the bank with a request to revise the conditions after the resulting delay, it will significantly worsen the credit reputation.

Financial experts distinguish between three types of tainted credit statistics:

weak - if the delay was admitted within one and covered by the payment;
medium - several months;
high - the resulting debt is not covered by payments, and the restructuring was initiated by the bank itself.

With the latter option, it will be very difficult for the borrower to prove his solvency and good faith in the future in order to obtain a new loan.

Procedure for restructuring an overdue loan

Banks are usually reluctant to write off fines and late payments and, when carrying out the restructuring procedure, include these amounts in the total debt.

When signing a document, you should definitely pay attention to this fact and, with large penalties, you can go to court. Of course, only if you have an objective reason for the late payment.

As mentioned above, you must provide a certificate stating the reason why you are asking to revise the terms of the agreement and what caused the non-payment of the loan.

In most cases, the court will take the side of the borrower if the reason for non-payment of the loan is dismissal from work, a sharp deterioration in health, loss of ability to work, etc. In this case, the court may order a long-term prolongation of the loan agreement with exemption from interest and penalties. The borrower will only be obliged to return the body of the loan.

Restructuring procedure

Likewise, the bank itself can write off the resulting fines and penalties, changing only the main balance of the debt.

The procedure for the restructuring procedure is as follows:

The bank offers to fill out an application for restructuring and indicate the reasons for amending the terms of the agreement.
The financial institution analyzes the reasons indicated in the application and, if they are objective, makes a decision on approval or refusal. If the Lender sees the reasons for the deterioration of the borrower's condition, then he can offer prolongation or credit holidays to remove a partial financial burden.
The client provides a complete package of documents required for debt restructuring.
A bank employee prepares new loan documentation, which reflects the terms of debt repayment.
The client checks the documents and signs.

If the bank independently initiates the restructuring procedure with the resulting debt, then the client has the right to accept or refuse the new conditions.

First, you need to compare the new terms of the agreement with the old ones, calculate the amount of overpayment when prolonging the agreement, pay attention to whether the penalties are included in the total amount of debt or not.

Conclusion

When financial difficulties arise and before deciding to restructure the contract, many clients ask themselves how profitable it is? Will such a procedure entail new financial problems?

Restructuring: Aid or a New Financial Trap?

This issue needs to be considered from two sides.

On the one hand, such a tool allows you to reduce the monthly loan load, which allows you to improve your financial situation. But the prolongation of the agreement entails an overpayment of the loan. If we consider the issue in this aspect, then from a material point of view it is not profitable.

But, on the other hand, such a procedure will save you from litigation, penalties and deterioration of your credit history, which is very difficult to recover.

Unambiguously, such an option should be resorted to only if there are no other ways to fulfill your financial obligations to the bank.

If you just want to reduce the financial burden through restructuring in order to manage the remaining funds on a monthly basis, then, in this way, you will only do yourself a "disservice".

Video. Credit restructuring - essence and mechanism

If a client has problems with repaying a loan, banks offer debt restructuring. The essence of the program is to change the terms of the loan agreement in order to reduce the financial burden on the borrower. The article will help you find out whether this procedure is beneficial and whether it allows you to cope with the difficulties that have arisen.

Loan restructuring: is it profitable or not

In the event of delays due to job loss, lower wages or other financial problems, you have the right to use the loan. Such a service will be provided only by the bank in which the loan was issued. Financiers make changes to the loan agreement - they reduce the amount of the monthly payment and write off the accrued fines and penalties.

Banks receive certain benefits from restructuring:

Allows the borrower to return to the repayment schedule, thereby reducing the overall share of overdue loans.
Improve the quality of the loan portfolio.
Litigation is dispensed with, which saves on costs of the claim.

The restructuring procedure helps clients avoid:

spoiled credit file, if the debt is not long-term;
litigation with the institution, which seriously affects the financial reputation of the borrower;
fines and penalties charged by the bank;
default because the lender recalculates the repayment schedule and sets a minimum monthly installment;
confiscation of property in payment of a debt by a court decision.

Profitable loan restructuring: offers from banks

You should apply for a revision of the terms of the loan before the bank submits a claim to the court for debt collection. Credit institutions offer the following restructuring methods:

Extending the loan term, which reduces the monthly installment, but leads to an increase in the total amount of overpayments.
Transfer of a loan into a more favorable currency for the borrower.
Temporary disposal of loan payments:

interest charges;
principal debt;
the whole amount.

4. Re-registration into a cash loan, the interest on which is lower.

5. Writing off fines and penalties.

6. Lowering the interest rate on the loan.

Banks use one of the options or a combination of several methods. To carry out restructuring, you must submit an application to the financial institution and attach documents proving a difficult financial situation.

Good reasons are:

dismissal, reduction or reduction in the level of wages;
parental leave;
loss of a source of additional income;
conscription;
serious illness, etc.

Is credit restructuring profitable - reviews

Banks go to meet borrowers with a positive financial reputation, who do not hide, but honestly report their problems. Considering that there are several options, study their nuances. Reviews of borrowers who used this service indicate:

Prolongation of the loan agreement is the most effective option for the bank, but not profitable for you. The lender seeks to reduce the monthly installments for a specific period, rather than the total amount of payments, which can ultimately increase significantly. Usually, when recalculating the schedule, banks add overdue interest to the body of the loan, which ultimately increases the total debt.
Credit holidays are temporary relief for the borrower. Between delays in the body of the loan or in interest, the second option is more profitable.
Reducing the interest rate is best used in conjunction with the extension of the loan term.
Converting currency from dollars to rubles is beneficial for mortgage loans and car loans. However, banks are reluctant to use this scheme.