What are the conditions for obtaining and repaying a loan?Uncategorized
You can find many so-called experts who will advise you in every possible situation. Internet forums are a particularly interesting source of advice – on many of them you can read, e.g. that it is not worth paying off debts, why in all? The statute of limitations and after trouble … We obviously advise against this type of behavior.
This will only lead to a deepening of the debt and even to bailiff execution. Creditors and their phones should not be ignored. Any such action on the part of the debtor always works against him.
From the beginning
It all starts with creditworthiness. This is the basis for getting a loan. It gives the creditor confidence that we will be able to pay it back. Getting a loan is not easy, of course depending on the amount you are applying for and your monthly income. Please note that the bank verifies anyone applying for a loan – mainly in the Credit Information Bureau register.
Each entry in the BIK that informs you that you have any liability – which is not repaid – reduces your creditworthiness. It may result in the loan being granted on worse terms or refused. According to the amended version of the Banking Act of September 15, 2017 – the bank makes the grant of a loan dependent on the borrower’s creditworthiness.
Creditworthiness means the ability to repay a loan taken out with interest on the dates specified in the contract. The borrower is obliged to submit, at the bank’s request, the documents and information necessary to assess this ability. A bank may grant a loan to natural or legal persons or organizational units without legal personality, provided that:
A special way of securing the loan repayment will be established, – an independent presentation – of the repayment guarantee of the entity’s economic recovery program (e.g. restructuring procedure is considered such a program). At the request of the entrepreneur applying for a loan, the bank provides an explanation of its creditworthiness assessment. Unfortunately, a fee appropriate to the loan amount is paid for making such an explanation.
Unless the loan agreement provides otherwise, the loan repayment date is a reserved date for both parties. The borrower has the option of terminating the contract with a three-month deadline only if the parties have agreed on a loan repayment deadline longer than a year.
In the event of delays in repayment, the bank calls for payment, setting a time limit of not less than 14 business days. In the request, he also informs about the possibility of submitting an application for debt restructuring, of course within no more than 14 working days. The bank’s duty is to enable the borrower – at his request – to enable debt restructuring by changing the loan terms and conditions specified in the contract. If justified by the bank’s assessment of the financial and economic situation of the borrower.
Restructuring is always carried out on terms agreed between the bank and the borrower. In this case, the mediator can negotiate the repayment terms on behalf of the borrower. Mediators are professional negotiators whose tasks include settlement of financial disputes, or, as in this case, negotiating better terms of repayment of the outstanding liability with the creditor. “In case of difficulties with repayment of the loan, debt restructuring is the best solution for both parties.