During the period of the special regime, citizens must continue to pay loans and mortgages. In accordance with the law, federal or regional authorities may, at their discretion, provide one-time financial assistance to their citizens. But regardless of the severity of the financial situation of a particular family, debts on a loan or mortgage still need to be extinguished.
Can debts be restructured?
The borrower may refer to an emergency situation as a force majeure circumstance in order to reduce the amount of the bank’s penalties or to get rid of them in court. At the same time, debt restructuring depends entirely on the decision of the credit institution.
The borrower can agree with his bank to amend the contract: for example, to reduce the interest rate or increase the loan term by reducing the monthly amount of payments.
In order for the bank to make a decision and complete the restructuring procedure, it will be necessary:
- documents confirming that the debtor has a difficult financial situation (a certificate confirming the temporary disability of the payer, a copy of the employment record book, which contains records of reduction/dismissal, documents on the need to pay, for example, sudden medical expenses or repair of equipment that is a means of earning);
- application;
- passport;
- loan agreement;
- information about the repayment amount.
The Bank of Russia notes that the Central Bank recommends creditors to restructure loans to affected citizens and businesses, taking into account the assessment of specific circumstances. The application can be submitted by specifying the appropriate reason (emergency) and attaching supporting documents. However, these are the recommendations of the Central Bank, and there is no law allowing to write off debts yet. Last year , deputieswe made a proposal to make amendments that will allow debt restructuring. According to Izvestia, the bill was named “On Amendments to Certain Legislative Acts of the Russian Federation (regarding the Restructuring of Credit Debt to borrowers who suffered as a result of a Natural or Man-made Emergency)».
It is proposed to supplement the legislation with new norms allowing for the revision of the terms of loan agreements (including mortgage) and loan agreements (including debt forgiveness), if the borrower is a victim of a natural or man-made emergency.
To change the terms of lending, a person will have to provide the credit institution with documents that confirm his residence at the place of registration at the time of the emergency. The borrower must also be included in the lists of victims of an emergency.
Source:
https://iz.ru/1194694/natalia-bashlykova/poniat-i-pogasit-postradavshim-v-chs-predlozhili-prostit-bankovskie-dolgi
