How to pay less for the loan?

How to pay less for the loan?

There are situations in life when due to unforeseen reasons, deteriorating financial condition. As a result, there is no possibility to pay the fixed amount of the loan. In this case, better to go to the bank, rather than wait until it submits a complaint to the court. There are several ways to reduce the mortgage payments.

1. Restructuring

The lender agrees to make concessions, at the request of the borrower. You can ask about how to extend the loan for a long time, as a result, lower your monthly payments. This option is ideal in the event that the bank does not change the% figure throughout the time of the loan.

Also, you can ask for vacation credit. This is an opportunity not to pay the loan for a while. Often, leasing used such a scheme. You can agree only on a percentage of credit, or make an individual payment schedule.

Another type of restructuring - a total or partial repayment of the loan by the bank. This option is used in very rare cases. Most blamed only the penalty interest for the stitching charges.

2. Refinancing (refinancing)

This is an opportunity to take a new loan in his or another bank to pay off the old loan on more favorable terms. First you need to address in its own bank of the proposal, but not everyone wants to spend the bank to refinance their own loans. Then, we must find the right bank with the best conditions. Now a vigorous competition among banking institutions. You can easily find a lender who will agree to such an operation, the main thing that was a good credit history. Having paid off the old loan, the borrower must pay the new, but with a lower percentage.

3. Consolidation

The ability to combine all their loans from different banks in one. The advantage of this option is that it is not necessary to run on all banks to agree on the solution of the debt. Often the interest rate goes down, the borrower is unable to pay all the debts. If possible, you will receive a loan online.

4. Return Banking Commission

You can submit a claim to the bank for a credit account. In fact, the jurisprudence vyznat illegal commission, and if funds were weighty commission, that is, the possibility of their return.

Taking any of the options, it is necessary to consult with an experienced financial expert. And next time, before you get credit, evaluate their cash income, a few steps forward.

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