Procedure penalties on loans

Procedure penalties on loans – Almost everyone at least once in their lives took the credit. In most cases, people are completely repay it in time, so as not to have problems with the bank, as well as have the opportunity to further take advantage of this banking service, as well as not to spoil your credit history and do not lose the trust bank. But, as practice shows, there are unscrupulous people who took credit not give debt. The reasons may be different, but the fact remains. In this case, the bank would have to hold debt collection – a standard procedure for all financial institutions that make loans.

Foreclosure on loans occurs in several stages, which differ in their importance. Therefore, if the bank has started a policy against you, it is best to give up at the first stage, not to bring the case to court or to the seizure of property.

So, the first stage of foreclosure loan – this bank warning calls. For some time, the bank staff call you at home, on a mobile, work, your guarantor to repay the body requesting the loan. After the call they give some time to pay off the debt. If this does not happen, then the calls continue, but not for very long. If an employee of the bank sees that warning calls give nothing, the bank goes to the next step.

Next, begin to come to the debtor official letters from the bank with a request in whole or in part to repay the loan the bag. It should be said that the letters come, both in ordinary mail, or by e-if, of course, you specify the address. Also it is possible that a letter will come to you at work.

If you also do not respond to the requests and demands of the bank, the financial institution takes you to court. Honestly, there are very few cases where the debtor has won processes.

Modern bank aims to debtor fully returned all the bag, no matter what the circumstances. The law, unfortunately, as well as the rules of the bank fully supports this fact. Therefore, you have little chance of winning process, whatever you did not hire a lawyer.

After the trial ended not in your favor, then there is an inventory and seizure. It should be said that the financial institution may arrest and sell the property for their own purposes. Therefore, in practice, it is better not to risk to bring the case to court, if you do not want to lose everything.

Finally comes the writ of execution on the work of the bank and out of your salary will be deducted percentage constantly until full repayment of the loan.