Lack of knowledge and fear of the consequences cause irrational behavior. We do not go to the bank to tell about our problems for fear that it will make our home. He’ll take it anyway if we don’t act. Only our activity will save us pain and losses.
What, then, can the bank propose to help us get out of temporary problems? You can read about it below. However, be sure to act before you are in arrears with your loan repayment. If you lead them, the bank will not be so eager to solve your problem, which does not mean that it is not worth trying.
Credit holidays are the easiest solution. The bank suspends our installments for a specified number of months. Thanks to this, we have time to sort out our affairs. The length of such holidays and conditions depends on the procedures of a particular bank.
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Extension of the loan period
This solution mainly applies to loans that were concluded for a shorter period (e.g. 15 years). By extending it, we can even have a few hundred zlotys smaller installments. Of course, it depends on the amount of credit granted.
Consolidation of credit obligations
If we have several loans, we can think about their consolidation. A consolidation loan is usually granted for a longer period, which will give us one lower installment. This solution will cost us more, but it is better than recovering our liabilities. In addition, all the solutions mentioned above are associated with an increase in costs. However, they are less severe than in the event of the entry of a bailiff.
Installment payment date change
Or maybe the problem is that by the time the installment payment comes, we will spend all the money? Sometimes even for less necessary things. We just tend to spend their knocks on the account. In such a situation, the solution may be to change the date of payment of the installment to the day after the payment is received.
What happens if we do not inform the bank about our problems?
If we do not pay back the loan, we will have a negative credit history in the best situation. In the worst-case scenario, we will lose our property. In the case of the former, after the temporary problems have ceased, they will “continue” for the next years. For this reason, we will not get another loan later.
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We can solve even temporary problems in paying off loan installments by talking to the bank. Thanks to this, we make the situation related to getting out of these problems easier. Besides, we will not create a negative credit history.