Moscow, April 23 – Andrey Petkov, general director of the International Finance Corporation Chestnoye Slovo, commented to the News Agency that a delay in obtaining a loan from one to three days threatens the borrower with a fine and communication with the collectors, but this period will not greatly affect the credit history.
“The speed with which the consequences arise (after a loan delay) directly depends on the type of loan product. Let’s say, in the case of an MFI … the loan is delayed the next day after non-payment … From the first day of the delay, fines are imposed and collectors are contacted , But this will not greatly affect the credit history … Banks have the same system, ”said Petkov, pointing out that the law does not clearly define deadlines for when the consequences will occur, it depends on the lender’s policy.
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At the same time, the delay of 1-3 days is not critical and is considered technical, including because it can occur due to the slow transfer of funds by the bank between the accounts of the client and the MNF. And Petkov notes that if such a situation occurred simply because the bank was late, then the client can object to the delay in debt, and this will not be reflected in the credit history, and there will be no penalties.
A fine is the first consequence of late payment of a loan. Its size depends on the type of loan, and whether interest continues to accrue on the amount of the debt during the delay in payment. In addition, the borrower will have to interact with the collectors – the lender’s call center or a third-party agency, says the expert. Each collection service uses its own methods, but legal collectors are bound by the law that prohibits the use of violence against a debtor and sets rules for calls, letters, and in-person meetings.
Also at this stage, the borrower is offered different ways of settling the overdue debt. If the debtor does not make contact, the bank or MFI will take the case to court. The expert explains that then the Federal Bailiff Service can begin enforcement proceedings. If the borrower is unable to pay the debt, he or the creditor may initiate bankruptcy. Petkov noted that after that he was prohibited from borrowing for 5 years, and it is possible that he will become bankrupt again only after 10 years.
The credit history also suffers from delays in obtaining a loan, the history of missed payments gets there. Because of this, they may refuse a new loan, offer less money, or charge a higher percentage. However, you can fix your credit history. Firstly, it is worth cooperating with the lender and not ignoring it. Secondly, new positive entries must appear in the credit history. “This can be done by issuing and repaying several loans on time, constantly increasing their value. Microloans are usually quite suitable for this,” Petkov concluded.
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