How to repay the loan, if there is no money

Try to arrange a loan from another Bank at lower interest rates, if you feel that soon you will not have money to pay for the loan. This will minimize your monthly expenses and manage to prevent getting a damaged credit history. For example, if you know that soon you will be fired from work, ask the employer to postpone the moment of the loan. Otherwise the unemployed will be difficult to borrow money.

Take the required amount from relatives or friends to resolve the situation. It is desirable to make an interest-free loan agreement. Discuss the repayment terms. In this case, you will be able to repay the loan and not to spoil relations with the Bank. Keep in mind that in future you will have to return for two debt, so let's search for a new source of income.

Agree with the Bank on debt restructuring. Explain the situation and ask to defer payments on the loan. Currently, many banks engage in this method, in this case the monthly payments are reduced or cancelled for a period of one year.

Please refer to the legal framework, if the Bank refuses to take you to the assignment. It should be noted that for example, the civil code spelled out the situation regarding arrears on the mortgage, which in the case of a difficult financial situation may be delayed for several years.

File a claim in court, which require the Bank to take into account your situation. If the court finds that job loss is not your fault, there is a chance that you will be exempted from paying fines and penalties and allow you to defer payments.

Receive a tax credit for mortgage interest. It is necessary to submit a relevant application to the tax inspection at the place of residence. Learn about the requirements for receiving cash benefits and complete all necessary forms. As a result, you can get some amount as compensation for previously paid interest on the mortgage.