- imposition and recovery of fines and penalties;
- transfer the debt to a collection Agency;
- debt recovery through the courts.
Fines and penalties on lending
If the delay on the loan is small (less than 2 months), the worst thing that can wait for the debtor fines and penalties. Their size varies depending on the Bank and needs to be spelled out in the loan agreement. Fines may be imposed in a fixed amount and in the form of high interest for the loan. In Russia is expected to legislate the penalty for late payment is 0.05–0.1% of the debt.
Another embarrassing moment for the borrower, in arrears, is the transmission of information in Bureau of credit stories. In the future, to loan to such borrower may be problematic.
Transfer debt to collection Agency
On late loan payments more than 1-2 months, the debt is transferred (or sold) by the Bank collection Agency. As a rule, the methods of collecting the debt collectors are on the verge of the law. They can threaten to take property, physical violence, call the relatives and friends of the debtor, to send annoying emails and texts, call nights, etc. to Withstand the onslaught of collectors often problematic, and many borrowers repay debts.
Debt collection through court
If the collectors failed to collect the debt, the Bank is entitled to sue the borrower in court. Generally, banks benefit of a trial.
The recovery of a debt may be imposed on:
- the funds of the debtor (savings, deposits in banks and other financial institutions);
- the property of the debtor;
if the savings and property of the debtor not, the court may order him to make any deductions from the debtor's salary (not more than 50% of total compensation).
It is worth considering that by law you cannot collect household items and personal belongings, food, social benefits and compensation.
Many borrowers are concerned with the question - can you select an apartment or a car to pay off the debt. Definitely can, if you have arrears on your mortgage or car loan. In these cases, the apartment and the car is the collateral. No collateral on the loan the situation is ambiguous. Under current law, to recover the debt is not due to a single housing debtors. The courts emanate from the proportionality of the debt: it is unlikely that the court can decide to seize and sell the apartment for 5 million rubles for repayment of the debt to 5 thousand.
Often the courts impose a ban on travel abroad until until paid a debt.
The most extreme measure - criminal term for nonpayment of the loan. If the borrower took out a loan and expected him to pay, he may be convicted of fraud. But this punishment in practice is rare, for this the borrower should not make any payment, and the Bank - to prove his intent.