1. Do not take a word
When you borrow from a bank, it is important to check everything that the bank employees tell you. For example, you are promised a loan at 13% per annum, and later it turns out that the effective interest rate, that is, the rate that takes into account and sums up all the costs that the bank takes for using the loan, 25%, or even more. The effective rate consists of a variety of commissions that the bank charges in connection with the consideration of applications, opening an account, maintaining an account, insurance services, transfer of funds to an account. And all this you can not even voice, and then it will pour out into thousands of rubles. Often these figures, borrowers can see only when signing the contract. That is why it is so important to ask to announce in advance the amount of the final interest rate and to draw up a payment schedule - the bank must do it.
2. Insure maximum risks
When you take a large loan, such as a mortgage or simply money secured by real estate, the bank usually requires that this property be insured. You need to find an insurance company that insures the greatest number of risks with minimal exceptions. The insurance contract necessarily indicates which cases are not insurance. Read this paragraph very carefully. You can also think about insurance in case of reduction at work, disability due to illness or accident.
3. And run bail
If you were asked to become a guarantor for a loan, and you are uncomfortable refusing, read carefully. The guarantor is a person who incurs obligations on someone else's credit. That is, if the borrower is not in a position to fulfill obligations under the loan, they fully fall on the shoulders of the guarantor. This is the law - art. 361 of the Civil Code. How do you find the price for "uncomfortable refusal"?
True, the guarantor has a chance to return his money later. But, as practice shows, it is very difficult. In this case, the burden of unreturned debts will lie on you, and you will be provided with a loss of health. Theoretically, when the guarantor pays off the loan, he can file a lawsuit against the unscrupulous borrower "in recourse" and demand compensation from him for all the losses that he suffered because of him. Simultaneously with the claim, you can file a petition with the court to arrest the borrower's assets and property.
BTW! If the guarantor himself is going to take a loan from the bank, then the borrower's questionnaire will have to indicate that he is a surety. And this will lead to the fact that when considering an application, the bank will reduce the person's income by the amount of monthly payments for the loan, for which he vouched.
4. Competently draw up documents
If you are in debt, take the trouble to formalize the contract. The basic rule of "safe debts" is the availability of appropriate written form. That is, you must deal with drawing up loan agreements and receipts. Remember that you need to draw both documents. The receipt confirms only the fact of the transfer of money, and the agreement - the consent of the parties to transfer money in debt, as well as the terms of the transfer. For example, the contract specifies interest, the exchange rate on the day of return, if you are lending in foreign currency, and other nuances. Also here are the passport data of the debtor and the lender.
The loan agreement will have to be issued in advance, and the receipt, on the contrary, must be written at the time of the transfer of money. It should contain information about who lends to whom, with what term, what amount and when the repayment of a debt is expected. Both documents can be issued in free form, and the creditor can make them independently. However, in order to exclude mistakes and miscalculations, it is desirable to resort to the help of a lawyer. It is also not obligatory to certify documents by a notary, but you should know that notarized papers for a court are a more weighty argument than unconfirmed ones.
If you borrow, for example, from a private person, then also draw up documents according to the above scheme. Correctly executed documents are a guarantee that you will not be required to return money early or not to wind up a frenzied interest. When it comes to a bank loan, the main thing is to figure out whether there is a dirty trick in the contract that you are offered to sign. For example, an item allowing the bank to unilaterally change the terms of the contract. If you read the contract and could not figure out what's what, you can ask the bank for a reminder of the borrower. The central bank obliged all banks to host such memos, in which it is painted on the points, which should be drawn attention to in the contract.
5. Take as much as you can give
And to understand if you can give this loan, you need to calculate what the final amount will be. Do not forget to ask the bank officer to print out a plan of payments on the loan. It reflects the amount of monthly payments, the dates to which you want to pay a fee, and the total amount. Ask to calculate what the overpayment will be on the loan, and think whether you need it. It can happen that you can afford a loan for a shorter period, or you will be able to make early repayments (in this case, the overpayment will be less). Some banks charge extra interest for early repayment, in others - nothing.
6. Do not buy cheap credit
The most unprofitable loans for a borrower are those that are easiest to obtain. If you are promised to issue a loan for half an hour, and even without guarantors, with one or two documents on hand, then the interest rate on the loan will be very high. Another zamanuha - the initial contribution of 0%. It is often found in electronics stores and expensive outdoor clothing. It seems to you that it is very profitable, but in fact the effective interest rate on such loans is in the range of 30-50% per annum. In a bank, a loan for this amount can be taken at a much lower interest. It is very unprofitable to take out loans for goods and services that do not go up in price: for vacation, for some household purchases, for car purchases ... The same goes for spending on credit cards if you can not close the debt during the grace period (usually it is 30-60 days). However, with a thin calculation on credit cards, you can even earn.
7. Anticipate conflicts
Once in a difficult life situation and not being able to pay more on the loan, do not hide. Be sure to inform the lender in writing about the circumstances and ask for a deferred payment. This is important in case the creditor does not meet you, but goes straight to court. The judge will see that you were honest and tried to solve the problem, and most likely will stand by your side. Then you can seek through the court installments or deferred payment of debt. If it is a question of a debt under the mortgage, it is possible to write the statement on debt restructuring. Banks approach such issues individually, but the attempt is not torture. If the debtor should try to establish a schedule of payment of the debt in the parts about the repayment of debts for housing and communal services or car accidents. At the same time, it would be good to show that you are not trying to evade payment of debts in this way - for this you can immediately repay part of the debt.
8. Do not risk the last
The most unreasonable is to borrow on bail of the only housing. Especially in a crisis, when at any time you can stay out of work. Loans secured by property in general are very unprofitable. An elementary example is the pawnshop. You give earrings for half their real value, and you buy almost twice as much. Sometimes parting with the road for you is a thing even worse than unrecovered debts - the loss of health often originates from here.
9. Avoid debts
If there are problems with debt repayment, the bank can transfer your loan to collectors - professional debt collectors. With banks, collectors work either for commissions (15-40% of the collected debt), or by buying a package of non-refunds from bankers. Usually the right of banks to transfer problem loans to third parties is prescribed in the loan agreement. But if there is no such clause in the contract, then the bank has no right to transfer information about you to the collector. After all, the bank is obliged to keep secret information about their client, his income, especially about problems with paying a loan. So read the contract carefully before signing.
10. Apply to the court
Often, "thrown" creditors or borrowers whose rights are violated by the bank, categorically do not want to go to court. Some are convinced that justice can not be achieved in court, others are afraid to spoil relations, while others want to save on costs. Meanwhile, in most debt disputes, the court is the only civilized and effective form of resolving the problem, although if you have well-designed documents and time within 3-5 months.
BTW! The costs that the plaintiff incurs to pay for the services of a representative are recovered from the losing party.