Restructuring of bank debt. Loan restructuring - what is it in simple words? Minimum necessary conditions for loan debt restructuring

Hello, friends!

If you are the “lucky” owner of a loan, then I sincerely wish you to pay it off as quickly as possible and never have a delay in repayment. But what to do in the event of its formation or the probable occurrence of personal financial collapse? One possible way is to restructure the loan.

What is it, how and for whom is it carried out? These are the main questions that I will try to answer in my article.

The answer to the question is clear. Nothing good. Do not be fooled by the numerous advice from “Internet experts” on deceiving banks and the state. The schemes they propose may lead to a completely different direction than you plan. In my article I talk about this in detail. Pay attention to ways out of a difficult life situation. Restructuring is one of them.

Restructuring concept

What is loan restructuring? Ideally, these are measures that should ease the debt burden of a borrower who is in a difficult financial situation. These measures are developed by the bank taking into account an analysis of your current solvency and its own policies.

Below we will look at the main types of restructuring. But first we need to remember another word that is similar in sound, but not in meaning - . They should under no circumstances be confused. What is the difference between these two concepts? It's time to remember or find out.

Restructuring is carried out in the same bank where you received the loan.

Refinancing can be arranged in a different way. In it, you enter into a completely new loan agreement, which should have more favorable lending conditions. The new bank pays off your old debt or debts because you can refinance multiple loans at once. And you begin to repay your only loan to your new bank.

Restructuring does not imply the conclusion of a new contract. The conditions of the old one change, i.e. you remain a debtor to your bank, but on different terms. The bank agrees to meet you halfway and make it easier to repay your loan debt. Is it really? Not everything is as rosy as borrowers would like. I will definitely tell you about this and show you with numbers.

There is another significant difference. Refinancing is almost impossible to do if there are overdue loan debts. Banks have strict requirements on this issue. And in restructuring, the presence of delays is allowed and often becomes the reason when the bank itself approaches you with a proposal to carry out this procedure.

It is worth saying that the initiators of debt restructuring can be the client himself, this is the best option, the bank and the court. Why did I write that the most acceptable option is to initiate the procedure on the part of the borrower? In this case, the bank is more willing to accommodate and offers more favorable conditions. You are not hiding, you are not refusing to acknowledge your debt and the need to repay it, you are asking for help.

It’s a completely different situation when, for some reason, you don’t inform the bank about your difficult financial situation. There are repeated delays. The bank perceives this as a simple reluctance to pay. Therefore, the conditions for restructuring will be more stringent.

The final authority is the court. Some borrowers deliberately wait until this stage. This desire is due to the fact that the court often sides with the debtor. Fines, penalties for non-payment, and sometimes interest on the loan may be waived. This development of events is completely unprofitable for the bank. But the borrower must also provide solid evidence of his difficult financial situation. Don't overestimate your legal abilities!

Benefits of Restructuring

Since both borrowers and banks are willing to undergo this procedure, it means it is beneficial to both parties. Let's look at the advantages for both.

Benefits for borrowers:

1. The monthly debt burden is reduced (but not the total loan) if the loan term is increased.
2. If there are no delinquencies, your credit history will not deteriorate. Some borrowers care about their reputation because they expect to receive loans in the future.
3. You avoid meetings with collection agencies and do not receive the attention of the bank's internal debt collection services. Keep your mental health and nervous system relatively calm.
4. Save on legal costs and legal consultations if the case is brought to court.
5. Get a break (during the credit holiday) to improve your financial affairs.

Benefits for the bank:

1. The bank does not lose the client, but only changes the terms of debt repayment. He also makes good money from this. Later I will show the specific calculation in numbers.
2. Saves on legal costs and debt collectors.
3. Does not worsen its rating, because the presence of overdue debt in the balance sheet structure leads to exactly this result.
4. It does not worsen its financial situation because it does not spend money from the reserve fund, which is specially created to pay off the debts of unscrupulous borrowers.

In general, nothing but positives. But there will still be a fly in the ointment. Let's look for it when answering the question of how to restructure an individual.

Types of restructuring

Banks offer the following types of debt restructuring:

• increasing the loan term,
• credit holidays,
• change in loan currency.

Let's take a closer look at them.

In this case, the bank increases the loan repayment period for the borrower by reducing the payment amount. The monthly financial burden on the debtor decreases, but the total amount of repayment increases. I'll show you with a specific example.

You took out a loan of 500,000 rubles at 15% per annum for 3 years. Monthly payment – ​​17,333 rubles. Overpayment on the loan – 123,976 rubles. Under the restructuring program, your loan term has been increased to 4 years. The monthly payment became 13,915 rubles (decreased by 3,418 rubles). But the overpayment on the loan became 167,938 rubles (increased by 43,962 rubles).

On the one hand, you will pay less per month, but a whole year longer. And most importantly, this is a decent amount of increase in overpayment. This is the advantage of restructuring.

Credit holidays

Another restructuring option is a credit holiday. Not all banks offer it. Let's consider 2 programs:

• Tinkoff Bank

You can skip monthly payments (1, 2 or 3 times depending on the loan term). Connection fee – 0.5% of the initial amount. 3 months after connection you can activate this service, but not earlier. If the loan term is 1 year, then you have the right to skip 1 payment. If 2 years - 2 payments and 3 years - 3 payments.

Every six months, you can skip your monthly payment (no earlier than 6 months after receiving the loan and no later than 3 months before the end of repayment). Each missed payment increases the loan term. The service is activated free of charge.

Changing the loan currency

In the early 2000s, when the mortgage lending program was just gaining momentum, many citizens took out housing loans in foreign currency. There is no need to tell how this turned out for them during the years of the sharp fall of the ruble. Therefore, some banks in the restructuring program provided for the transfer of foreign currency loans into rubles.

I think that it was this path that helped significantly ease the debt burden of borrowers.

What is a restructuring program?

The first thing I want to draw your attention to is that any program is tailored to a specific borrower. Therefore, it is difficult to find information about requirements, parameters and types of assistance on the official websites of banks. Such a program is presented in most detail by Sberbank. Let's use her example to see how to restructure a loan.

Sberbank offers 3 restructuring options.

What steps do you need to take to restructure your loan:

1. Fill out an application for restructuring according to the bank's form.
2. Collect and provide the bank with a package of documents (the full list is on the website).
3. Wait for the bank's decision. If it is positive, then sign the amended terms of the loan agreement.

To be fair, it is worth noting that Sberbank honestly (albeit in very small print) warns that the overpayment may increase. And it doesn't restructure credit card debt.

As usual, I carefully studied more than 100 reviews from borrowers on restructuring issues at Sberbank. Almost all of them relate to mortgages. We'll talk about it below. But the overall result of the analysis is deplorable. Applications are processed not even for weeks, but for months. The customer care service of Sberbank PJSC is responsible for responding to indignant reviews from citizens on the Banki.ru portal. It sounds like a mockery.

State program for assistance to borrowers

Mortgage restructuring deserves a separate discussion. I have already mentioned above that the largest number of reviews come precisely on this issue. And this is understandable. Unlike consumer loans, mortgages are issued for a long term. During this time, the interest rate changed significantly.

In 1999 it was 35% with a loan term of 5 years, and in 2006 it was already 14.9%. Until 2008, the decline continued. Then the swing started again. In 2014, the rate was 17–20%. Finally, today it has record low values ​​(about 10%).

Under these conditions, in 2017 and 2018, the demand for restructuring of mortgage loans increased sharply. JSC DOM.RF (formerly AHML), 100% of whose shares belong to the state, has developed a special program to help borrowers. Let's consider its main parameters.

Not everyone can receive help, but only the following categories of citizens.

In general, the circle of those who can count on support is quite wide. But don't forget that you must prove that you need help.

About 100 banks, including regional ones, participate in the state program. This is where you apply. Make sure your application meets all requirements.

What the state program can offer:

1. Changing the currency of the loan at the rate not higher than that established by the Bank of Russia and setting the rate not higher than 11.5% per annum.
2. Reduction of the remaining loan amount by 30%, but not more than 1,500,000 rubles.
3. Write-off of penalties (except for those that have already been paid).

Please note that the program is launched by a special decree of the Government of the Russian Federation (the latest dated August 11, 2017). It allocates funds from the budget for its implementation. Accordingly, it will operate until the money runs out. Banks, as a rule, know in advance the approximate closing date for accepting applications.

In any case, if you do not meet the requirements of the state program, there is always the opportunity to contact the bank to participate in the regular restructuring program.

An analysis of customer reviews showed that the program works with serious glitches. The processing time for documents is several months. People don't get feedback. One gets the feeling that the allocated billions of rubles simply disappear into thin air without reaching those in need.

Here is just one of dozens of reviews.

Conclusion

It is difficult to predict your income several years in advance. People often take out loans, especially mortgages, for more than one year. Anything can happen over the years. Everyone understands this perfectly well: both banks and the state. They can imagine the most negative scenario in our lives better than us, because they face it every day.

Therefore, there is nothing wrong with thinking through possible ways out of the crisis at the first sign of impending difficulties. What will you choose? Refinancing, restructuring, bankruptcy of an individual? It's up to you. The main rule is do not delay making a decision. Not only the quality of your life, but also that of your loved ones depends on it.

Lending is an opportunity to obtain funds that the borrower does not currently have. But one way or another, the debt must be gradually repaid. No one is immune from unforeseen circumstances that contribute to a decrease in solvency: layoffs at work, deterioration in health, additional expenses in the family budget. And if it is not possible to deposit funds into the account according to the schedule, you should look for alternative solutions, one of which is restructuring. In this article we will look at what debt restructuring is, what types of such services exist at the bank, how the program is formalized and how possible it is to obtain a restructuring.

What does debt restructuring mean?

Restructuring is a change in the structure of the loan agreement. Lending is issued under certain conditions agreed upon by the borrower and the lender. All provisions can be specified directly in the individual conditions that the client signs, and in the general ones, which are provided upon request and must be posted in the public domain, for example, on the website of a financial institution.

Debt restructuring means changing the terms of the loan agreement. When applying for a loan, you are given a schedule according to which payments must be made. And restructuring is an opportunity to adjust the schedule to avoid fines, penalties and deterioration of your credit history.

The concept of restructuring includes various aspects: from changes in interest rates or currency to the possibility of deferring payments for up to 12 months. In simple words, this is the process of a concession by a bank in favor of a client who is in a difficult financial situation. The borrower writes an application asking for certain conditions that the banking company can satisfy.

It is worth understanding that restructuring is the right of the bank, but not its obligation. The grounds for refusal may be any, and the financial institution may not even provide a reasoned response, since the signature on the loan agreement means that the borrower fully agrees to fulfill all the conditions. And the possibility of restructuring, as a rule, is not indicated anywhere in the documents.

But this does not mean that the bank will necessarily refuse such changes. The financial institution is no less interested in the client being able to repay the funds.

The bank does not want to lose a client, but always counts on long-term cooperation, leaving the hope that in the future the borrower will again contact this bank to obtain a loan. But there must be good reasons for restructuring, which we will discuss below.

The banking company makes money from interest on the loan. Funds received into the account are used to repay the principal debt and interest under the agreement. Therefore, the organization is interested in the borrower contributing funds.

And even if the client is currently unable to fulfill the terms of the debt, the bank is ready to make a concession, even if it loses a little profit, but only so that the client continues to pay the loan.

Usually the restructuring process is not regulated in any way, i.e. there is no way to bring an extract from the account where wages are received, as a result of which the creditor will immediately agree to the restructuring.

The reason is a sharp deterioration in the financial situation. It is necessary to convince the bank that the borrower is no longer able to deposit funds in the same amount. Let's look at the main reasons:

• dismissal from work;
• salary reduction;
• incapacity for work due to health reasons;
• birth of a child;
• weakening of the ruble.

The last point applies to foreign exchange transactions. If the value of the ruble sharply decreases and the currency in which the loan is issued rises in price, the bank may agree to change the agreement and convert the transaction into rubles.

The remaining provisions relate to the client’s personal financial characteristics. And the banking organization, having considered the appeal, can make a decision in favor of the client so that he does not become a debtor.

As a rule, restructuring is an individual change in the terms of the loan agreement. A client who makes such demands may propose various directions for changing the conditions.

Therefore, debt restructuring is possible in various ways. The definition of restructuring includes a whole range of concepts. Let's highlight the most common directions:

• credit holidays;
• interest rate change;
• extension of the term;
• change in monthly payment;
• currency changes;
• deferments;
• the ability to pay only the body of the loan for a certain period.

Restructuring can be carried out in various ways. This process is very individual. But let’s look at the main directions in this process.

This option is suitable for those who have lost the opportunity to deposit funds for a short period of time. Credit holidays can be of several types:

• exemption from monthly fees;
• exemption from interest payments.

In the first option, the borrower literally receives a vacation from the loan. The banking organization exempts from payment for a certain period, usually it ranges from 3 months to a year. In this case, those payments that were not made are evenly distributed among subsequent installments, i.e., the amount of the next monthly payments will be higher than the previous one.

During an interest holiday, the borrower can only pay the principal amount included in the monthly payment. Each monthly installment consists of the loan body and interest under the agreement. Information on the size and composition of the monthly payment can be clarified in the schedule or personal account.

Using holidays, the borrower reduces his financial burden for a certain period, but receives obligations to repay the debt in the future and in a larger amount. The interest from which the client was released is also distributed to subsequent payments.

At some point, the monthly payment may become an unbearable burden for the borrower. The option to allow delays will only worsen the situation, as the bank will charge fines and penalties. In such a situation, it makes sense to contact the lender with a request to reduce the EP.

The monthly installments are reduced by increasing the loan term. As a result, the final amount payable will be slightly higher due to the peculiarities of annuity payments, but the client will be able to get the option to pay a smaller amount, thereby preventing overdue debt.

As a rule, banking organizations most often agree to this type of restructuring, since the company’s profit even increases and, in addition, the option of a problem debtor disappears.

But the operation is possible if the current contract was not initially drawn up for a maximum period. In such a situation, there is simply no way to extend it. The maximum terms, depending on the bank, for a consumer loan are 5–7 years, for mortgage agreements – 25–30, and in extreme cases, 50 years.

It is also possible to reduce the EP by reducing the rate. Interest rates set by commercial banks are dictated by market conditions, and are also influenced by the refinancing rate from the Bank of Russia.

In conditions where over the past few years the rate has been constantly decreasing, borrowing becomes more profitable every year, as the offers of commercial banks become more accessible.

Therefore, many borrowers who, for example, had a mortgage at 17% in 2013, are demanding a reduction in the rate, since at the moment there are alternatives at 9%. But here the bank meets halfway only in rare cases.

Extending the loan term is the most suitable option for restructuring. This deal is convenient if the borrower needs to reduce the monthly payment. Under contracts that provide for collateral, it is often necessary to renew additional insurance services that protect the collateral.

Typically this applies to mortgages and car loans. But the client may not always have the money for this. Therefore, in this case, you can contact the lender with a request not to provide insurance for the current period.

The banking company may offer alternatives, such as paying a certain fine, which is significantly lower than the cost of the insurance product. In any case, it is necessary to notify the banking company so that alternative solutions can be found together.

At a time when the dollar rose sharply from 30 to 80 rubles, the amount of debt for foreign currency lending automatically more than doubled. This caused indignation on the part of borrowers, for whom the loan amount became unaffordable.

Now such a situation is no longer possible, since organizations have stopped issuing large loans in foreign currency. But for those who had a foreign exchange agreement, a restructuring service was available.

At the same time, many borrowers demanded that the loan be recalculated at the rate that was before the sharp weakening of the ruble. Banking companies made certain concessions, offering restructuring services and transferring lending to ruble accounts.

The most popular type of transaction change is a reduction in the interest rate. Debt restructuring within one bank is hardly possible. After all, the rate is the company’s profit, and hardly anyone agrees to reduce profits.

The service may be approved for customer retention purposes. But in such a situation it is more likely to apply for refinancing. In essence, this is the same restructuring, only with a different creditor. The action diagram here is as follows:

1. A new loan agreement is drawn up with another bank “B”.
2. Bank "B" deposits money into the account of bank "A", where there is a current loan.
3. The account of bank “A” receives an amount sufficient for closing, taking into account interest for the current period.
4. The borrower fulfills obligations to bank “A” and receives a loan to bank “B”, but on more favorable terms and with a lower interest rate.

As a result, banking company “A” receives a certain profit and gets rid of the negative client. Banking organization “B” attracts a new borrower, and the client in this case receives a reduction in the interest rate.

Next, we will consider the process itself, how loan restructuring occurs. Restructuring is a service that is possible based on an application from an individual. You should not wait for an offer from a banking company; the bank is not interested in those moments where it cannot earn additional money.

The banking organization is ready to consider options if the debtor has certain financial problems. Therefore, the application should describe the current situation in detail and secure it with supporting documents.

The financial institution receives the request and reviews it. The review procedure can take up to 30 calendar days, but, as a rule, a ready-made decision will be generated within a week.

The bank will contact the client using the specified contacts, or you can call yourself and find out the answer. If the decision is positive, an additional agreement will be created. In order for it to come into force and the terms of the loan to change, you will need to go to the office and sign it.

After this, the restructuring process can be considered complete. But since such a procedure is not the responsibility of the bank, but only its right, it largely depends on the reason for which such a service is required and what documents are submitted. And also whether it is provided for by the general terms and conditions of the contract. Therefore, below we will consider how to achieve restructuring of loan debts.

It is the borrower’s right to seek a loan on more favorable terms. The bank is unlikely to offer such options for him. Only if it is a renewal of a new loan agreement with repayment of the previous one.

In many ways, it all depends on what terms the current contract is based on. There are no specific criteria by which one can decide that the current agreement is definitely suitable for restructuring and the banking company will agree to such a procedure.

Each application will be considered separately, and a positive decision will be made on an individual basis. Let's look at the main general conditions that the bank often refers to:

• no overdue debt;
• there were payments under the agreement;
• the term of the contract allows it to be extended;
• deterioration of the borrower's financial situation.

The banking company does not like to work with debtors. To carry out the procedure for re-registration of the transaction, you must first pay off all overdue debts. Restructuring is possible if monthly payments have been made under the agreement - from 3 to 6 pieces.

In a situation where you are considering extending the deal by reducing the monthly payment, you should note that the initial loan period allows you to extend it for a longer period.

There must also be compelling reasons for restructuring. This should be evidenced by the client’s documents, which will be discussed below.

There are also no regulatory documents that will 100% allow for restructuring. Everything remains at the discretion of the bank. What is common is the announcement of restructuring. It can be in a prescribed form (and issued by the lender), or it is also possible to draw up an application in free form.

Additional documents that characterize the decrease in total earnings should be attached. In many ways, the decision will be made on the basis of these documents. And the more there are, the more seriously the situation has worsened, the more accessible the re-registration procedure will be.

This package of documents includes:

• a copy of the work record;
• statement from the account where the salary is received;
• certificate of health, including disability status;
• certificate of maternity leave;
• child's birth certificate.

These are examples of documents that can help in the restructuring procedure. A copy of the employment record can be provided if it contains a record of reduction or dismissal. An account statement is required if, for some reason, for at least three months, wages have become lower than in the previous period.

If your health condition worsens, you will need to attach medical documents that show the degree of labor limitation. In the case of the birth of a child and maternity leave, supporting documents are also recommended.

Don’t forget about the insurance services provided when signing the loan. After all, insurers can fully or partially repay the debt to the bank upon the occurrence of an insured event.

You can clarify the availability of insurance services based on the package of completed documents or by contacting the insurance company or bank directly.

If you are a borrower from a credit institution and you do not know what debt or loan restructuring is, we suggest you read this article. Here you will find answers to the most frequently asked questions on this topic.

What is restructuring?

When referring to economic dictionaries, we can see the following definition: restructuring is a change in current lending conditions in order to reduce the financial burden on the borrower. In other words, this service allows the person who has taken out a loan to change its terms.

As a rule, such a service is necessary when the borrower cannot cope with current payments due to some difficulties. This most often includes:

• loss of job, reduction in wages at the place of employment,
• death of one of the relatives (who could be a guarantor or co-borrower),
• military service,
• going on maternity leave.

In other words, the bank will not simply change the terms of the current agreement, because It's not beneficial for him. They can meet with you only if there are serious reasons for this, which you can document.

How is this service beneficial to the borrower?

If you experience temporary financial difficulties due to which you cannot fully fulfill your obligations under the loan agreement, you must immediately notify the bank. The worst thing you can do is simply wait until the situation improves to continue paying.

When you miss another payment, you begin to accrue penalties and fines that increase the amount of debt. At the same time, your credit history deteriorates, which means that in the future you will have problems when you contact any bank again.

To prevent this, you need to visit the branch of the creditor company and ask for restructuring. What they can offer you:

• provision of credit “holidays” - payment deferment,
• change in loan currency,
• increasing the credit period in order to reduce the monthly payment.

Important: the interest rate for this service cannot be changed. And even if you took out a loan at one percent, and now the same bank is offering lower interest rates, you still can’t count on a change.

To prevent loan arrears and the CI from being damaged, people turn to the bank for such a service. If this is not done, problems may arise in the future. Read about the consequences for a defaulter of late payments.

How to get a?

As a rule, restructuring of credit debt is provided at the request of the borrower if his financial situation has sharply deteriorated, and under current conditions he is unable to repay the loan. However, please note that the reasons for this must be sufficiently compelling and documented:

• dismissal or reduction from work,
• injury (disability), long-term chronic illness requiring constant medical intervention,
• death of close relatives, etc.

To confirm these reasons, you will definitely need documentary support, i.e. certificate from the place of work, entries in the work book, health certificate, etc. If you simply write a letter to the bank asking for a deferment, then there is a high probability of receiving a refusal.

It should be remembered that this service is not the responsibility of the bank, in other words, it cannot be obligated to change your payment amount or provide “vacations”. You can only ask to meet you, and the decision remains entirely at the discretion of the creditor.

However, the vast majority of credit institutions require you to write an application in person at the branch.

How to write an application: sample

To write an application for restructuring, you need to contact the bank branch where you received the loan. Explain your situation to the specialist and, together with him, fill out a free-form application.

Be sure to indicate all the reasons why you need this service, the more detailed the better. Sample provided

What must be present in the application:

1. Contract number, date of signing;
2. Approved loan terms. This includes the amount, period and interest rate of the loan, the date of making payments, the availability of additional services - insurance, issuance commission (if any);
3. The disbursed amount of loan funds (it is advisable to attach receipts);
4. The balance of the debt, as well as the date of the next payment, on which you will not be able to pay the entire amount;
5. The reasons why you are no longer able to pay the debt in full;
6. The solution paths you are counting on. If you want to reduce the payment, indicate the amount acceptable to you, if you need to increase the term, also write it.

After this, attach the prepared papers and a copy of your passport to the application. The application is considered within the period established by the specific bank (from 7 to 20 days), the decision is communicated by phone. If it was positive, you re-sign the loan agreement under new conditions.

What to do if the bank refuses to restructure?

An alternative option for easing your credit burden could be loan refinancing; read about what it is. A list of banks that offer the best conditions for such a service is presented in this

When restructuring a loan, the bank changes the terms of the loan. Thus, he makes concessions to a borrower who is in a difficult financial situation. The reason for revising the loan agreement is late payments.

Revision of the terms of the loan agreement is carried out on the initiative of:

1. Borrower – when it is not possible to repay the debt in full longer. To avoid penalties, he turns to the financial institution with a request to break the monthly payment into smaller parts.
2. Lender - if the borrower fails to cope with his responsibilities, the bank offers to reduce the loan load. He makes such concessions to ensure the quality of the loan portfolio.

• weak – restructuring was carried out within a month from the date of delay;
• medium - if there are several delays. This qualifies as periodic evasion of payments;
• high – restructuring is carried out at the initiative of the bank. This fact means that the case has almost reached the court. It is difficult for such a borrower to obtain a loan in the future.

Try to submit a request to review the loan agreement before large overdue amounts appear. The process of restructuring a problem loan with accrued penalties has certain features. Banks do not want to write off fines and penalties and include them in the amended loan agreement. When signing the document, pay attention to this. As part of the restructuring, the financial institution may partially or completely write off fines at your request.

Procedure for reviewing the contract:

1. The bank invites the debtor to fill out a special questionnaire to conduct an analysis of the possibility of restructuring.
2. If there are objective reasons for the deterioration of the financial condition, the lender, together with the borrower, looks for the best solution to the problem.
3. The borrower provides the necessary set of documents.
4. The bank develops loan documentation that reflects the new loan repayment schedule.
5. The borrower checks and signs the loan agreement.

Compare the parameters of the newly developed contract with the previous one. If they become stricter as a result of the revision, then feel free to refuse the offer.

If you decide to review the loan agreement, keep in mind that the statute of limitations on the loan is 3 years.

When agreeing to a restructuring proposal, make sure that:

• the previous loan agreement is closed and has no legal force. This fact must be indicated in the re-developed contract;
• The proposed payment schedule corresponds to your income. Otherwise, there is no point in signing it;
• The new agreement does not contain a clause on the possibility of changing the interest rate unilaterally.

If you are unable to agree with the bank to revise the payment schedule, do not be afraid to take the case to court. You need to provide evidence of your application to a financial institution for restructuring. It could be:

• a document indicating acceptance of the application by the bank;
• official refusal to restructure;
• written refusal to accept the application.

Features of debt restructuring through the court are as follows:

• the amount of debt is fixed;
• the accrual of interest, fines and penalties stops;
• a new repayment schedule is assigned taking into account the borrower’s monthly income.

What is loan restructuring and how does it work at Sberbank? Who provides assistance to debtors during debt restructuring? What are the features of mortgage restructuring with the help of the state?

Hello, dear readers of the HeatherBeaver business magazine! Denis Kuderin is with you.

Today we will continue to explore the multifaceted and broad topic of bankruptcy. The issue that will be discussed in the new article is debt restructuring.

The topic will be interesting and useful to everyone who has taken out money on credit at least once, as well as to those who are interested in current financial problems.

In this article I will share my personal experience.

So let's get started!

1. Main reasons for debt restructuring

First, let's define what debt restructuring is.

This is a measure applied to debtors in default, that is, to those borrowers who, for some reason, cannot service their loan debts.

Restructuring involves a review of the existing provisions regarding interest, amounts and payment schedule. Essentially, this is a kind of attempt to restore the borrower’s solvency by providing him with some credit benefits.

If you are no longer able to make regular loan payments, there is no need to panic or despair. Another vicious line of behavior is to let the situation take its course, expecting that the problem will “resolve” by itself.

Alas, it will not resolve. People who, when delays occur, begin to ignore communication with creditors, are making a big mistake.

The best option in such cases is to explain the situation to bank employees as frankly as possible. Most likely, the company will meet you halfway by offering to restructure your loan debt.

Grounds for initiating a restructuring procedure:

• loss by the borrower of the main source of income (dismissal, closure of his own company, retirement, failure of the employer to fulfill his salary obligations);
• illness, injury, accident causing loss of ability to work;
• a sharp change in the exchange rate (if the loan was taken in foreign currency);
• change of payment terms by the financial company;
• the birth of a child and going on leave for this reason, a change in marital status and other circumstances affecting the level of financial spending of the debtor.

The issue of restructuring is resolved on an individual basis: in any case, the reasons for revising the terms of the loan must be compelling.

Typically, banks need documentary evidence of the borrower's insolvency, but sometimes restructuring is carried out by financial institutions for commercial purposes.

The term applies to both individuals and legal entities. Even government debts may be subject to restructuring. An example is creditors writing off 50% of Greece’s debt after the 2011 Brussels agreement.

Close and sometimes identical concepts to restructuring are on-lending and refinancing. Often, restructuring becomes the outcome of arbitration proceedings in a bankruptcy case of an individual.

3. How loan restructuring occurs - main stages

Any loans are subject to restructuring - targeted loans, consumer loans, car loans, mortgage loans.

Let’s look at the process by which contract terms are reviewed in one of the most popular financial institutions in the Russian Federation, Sberbank. By the way, branches of this bank also operate in states neighboring Russia - Kazakhstan, Ukraine and others.

The general algorithm of actions is as follows:

1. The client fills out a questionnaire in the prescribed form. The document indicates the reasons for insolvency or deterioration of the financial situation; data on the debtor’s property, his income and expenses, and marital status are entered in the appropriate columns.
2. The payer is asked to choose a refinancing method.
3. The questionnaire is sent to the debt management department.
4. The client communicates with department representatives and together a plan for further action is drawn up.
5. The debtor collects the necessary package of documents, which includes loan information, medical certificates and other papers.
6. During the regulated period, the bank makes a decision regarding the revision of the agreement.
7. In case of a positive verdict, a new loan document is signed.

Other banks may ask you to write an application for loan restructuring. In fact, this is an analogue of a questionnaire, but in a more free form - without strict columns and sections. The application must also indicate the reasons for insolvency, which are then documented.

4. What features does the 2018 mortgage restructuring with the help of the state have?

Mortgage loans are especially difficult for borrowers whose financial situation suddenly changes. This is understandable - the mortgage is taken out for a large amount and for a long period of time. In addition, under the terms of the agreement, the bank can sue the apartment purchased on credit in its favor.

In an economic crisis, many mortgage debtors are facing insurmountable difficulties. Incomes are falling, but payments remain the same: a huge number of borrowers today are unable to continue paying their bills.

To help debtors, since 2015, Russia has had a state program for restructuring mortgage loans. The interests of payers are represented by a federal structure called AHML - Agency for Housing Mortgage Loans.

Using the mentioned program, borrowers can not only change the clauses of the loan agreement in their favor, but also reduce the total amount of debt by 600 thousand rubles. A reduction in monthly payments to 12% per annum and a deferment (credit holiday) for 1.5 years are also available.

To initiate a government assistance program for mortgage debtors, real estate must meet certain requirements.

Today they are:

• housing must be the only place of residence of the borrower and his family;
• apartments (houses, cottages) should not be expensive (elite class) - the price of living space should not exceed the average cost by more than 60%;
• the size of the apartment should not exceed 45 m2 for a 1-room apartment, 65 m2 for a 2-room apartment and 85 m2 for a 3-room apartment;
• More than a year must have passed from the date of execution of the contract.

The above does not apply to large families - for them the state provides preferential conditions in terms of square footage and type of housing.

There are also personal requirements for debtors.

The following categories of citizens are eligible to take advantage of the program:

• disabled people;
• war veterans;
• parents of minor children (trustees and guardians);
• loyal payers who previously had no problems with mortgage payments, but acquired them as a result of changed economic circumstances.

In the latter case, it is required to provide documentary evidence of the fact that the financial situation has worsened due to reasons beyond the control of the debtors. For example, they were laid off due to layoffs or the company where they worked became bankrupt.

5. Loan debt restructuring – 7 main types

There are several types of restructuring. Sometimes the choice of refinancing method is left to the client, but more often it is determined jointly by the creditor and the debtor.

Let's consider the most popular types of restructuring used in most Russian banks

Type 1. Loan extension

The term “rollover” means “to extend.” Therefore, as a result of this procedure, the contract term increases, and the regular monthly payment decreases.

Example

Initially, the loan amount was 200,000 rubles, and the term was 2 years. At a rate of 30% per annum, monthly payments were equal to 11,180 rubles, and the amount of overpayment was close to 69 thousand.

After six months of payments, the payer realized that he could not cope with the loan. He decided to extend the period by 12 months. The bank accommodated the debtor, increased the term and reduced the payment to 7,668 rubles per month. But do not forget that the amount of overpayment with this option increases to 92,000 rubles.

Prolongation is a way to delay the end of a loan agreement. At the same time, the payments themselves do not disappear, but are extended over time. Imagine a sandwich on which butter is spread in the thinnest layer - the amount of butter itself does not decrease.

Type 2. Credit holidays

Everything is simple here - the debtor stops paying the principal of the loan or interest on it for the period regulated by the bank. Such benefits are provided for the birth of a child, for study, and sometimes for the duration of military service. Vacation periods vary from 3 months to 2 years.

The most profitable option for the borrower is when he is allowed not to pay a penny at all for 3-6 months. During this time, the debtor puts his financial affairs in order - gets a job or finds an additional source of income.

However, such holidays are rarely provided by banks, since by definition they are unprofitable for the financial institution. Most often, some payments still have to be made, but one way or another, the client gets a break and at least temporarily gets rid of psychological oppression.

Type 3. Change in lending currency

During the current economic crisis, many borrowers have found it difficult (or even impossible) to repay loans taken out in foreign currency.

Converting debt into ruble equivalent is beneficial for the client, but not for the bank. For this reason, financial companies rarely use this type of refinancing.

Type 4. Reducing the interest rate

The loan rate is reduced if the debtor has an impeccable credit history. At the same time, the total amount of overpayment remains the same or even increases. The monthly load on the borrower’s wallet is reduced, which allows for slightly improved living conditions.

Type 5. Reducing the monthly payment amount

In essence, this type of refinancing is similar to a loan extension. The only difference is in terms and documentation.

When the monthly amount decreases, the loan repayment period automatically increases. The total amount of overpayment also increases, since interest payments, regardless of the duration of the loan, are not canceled.

Type 6. Write-off of penalties

Some banks give the debtor a deferment to pay fines and penalties or write off these amounts altogether.

However, I will say right away that such a measure is used only in extreme cases - for example, in case of judicial recognition of bankruptcy or documented difficult life circumstances.

Type 7. Combined option

A mixture of several types of restructuring - for example, prolongation is combined with the write-off of fines or a change in the currency of the loan. It is practiced, again, in special cases and not in all financial companies.

6. How to choose a bank during restructuring - practical tips and recommendations

Loan restructuring (refinancing) is often used by payers as a way to repay an existing loan by taking out a new one.

A borrower who has taken out a loan on unfavorable terms can contact the same or another bank with an offer to take out another loan and get rid of the existing debt.

When choosing a bank for restructuring, experts advise paying attention to the following points:

• the financial institution's policy regarding refinancing;
• the amount of commission for a new loan;
• conditions for obtaining a re-loan;
• reputation of the financial institution.

Some banks are particularly active in refinancing issues. Let's look at some of them.

1) Interprombank

founded in 1995. This is a universal financial organization that provides a full range of banking services to individuals and legal entities. The bank also engages in foreign exchange transactions, operates in the stock markets, and offers clients professional legal and financial consulting.

The following options are available to clients for the loan refinancing service:

• any number of loans for restructuring;
• debt refinancing up to 1 million rubles;
• reduced single payment.

How to refinance at Interprombank? Submit an application, provide documents and receive a new optimized loan. Interprombank combines loans from any banks with reduced monthly payments and interest rates.

2) Sovcombank

- a credit doctor for those who are denied loans and refinancing everywhere. The easiest and most reliable way to improve your credit history. The bank provides an individual refinancing program for each client.

The interaction algorithm is simple - you fill out an application on the website, present your passport at the nearest Sovcombank branch, and apply for the “Improving Credit History” product. There are other refinancing programs.

What does the client get? Reducing the monthly payment, changing the terms of the loan in the direction desired by the user, returning property taken as collateral and providing credit holidays.

- consumer loans, credit cards, restructuring of loans from other banks. Just transfer your loan to VTB, and your debt burden will become much smaller. Special conditions are provided to civil servants.

Other benefits include:

• long credit holidays;
• independent choice of a convenient date for payment;
• voluntary insurance.

Filling out the application does not take more than a few minutes. The bank makes a decision within 15 minutes. All you have to do is come to the branch with documents and complete the restructuring.

The table presents the main parameters of restructuring in the considered banks:

№	Bank	Amounts and terms of refinancing	Interest rate, %	Peculiarities
1		Up to 1 million rubles. from 6 months to 5 years	From 14	The client has the right to cancel insurance and commissions
2		Up to 3 million for a period of 36 months	12-14	Particularly sympathetic to pensioners and mature clients
3		Up to 3 million for a period from 6 to 60 months	Up to 14.9	Possibility to skip payments while on vacation

7. Who can help with loan restructuring?

It is difficult for an ordinary borrower to understand all the nuances of restructuring. Often the favorable conditions of banks only seem so - in fact, debtors, having taken out a new loan, find themselves in no less enslaving conditions.