STEP-BY-STEP GUIDE TO OBTAIN A PERSONAL LOAN

 

What Is Loan Repayment

Loan Repayment for the first year, you have already covered the principal debt for one and a half years, and the loan amount will not decrease, but only increase due to new interest.To ease the burden of payments, it is better to use the services of restructuring to increase the maturity, decrease the monthly payment, and the amount of additional interest will not be significant visit site for more information.

There are times when you still need a new loan of a larger amount to cover the old one, and so that there is still enough for the planned needs.

Before applying for a new loan, you must decide in the same bank to be "refinanced" or by another. Accordingly, it is necessary to study the lending conditions of several banks and choose the ones that are suitable for you.

 Having decided, you need to contact the bank with which you have already concluded a loan agreement and clarify information about the amount of debt and interest on the loan (this is done to adjust the amount of the new loan). The bank is obliged to provide such information to you upon request once a month free of charge, more than the number of times for need to notify the bank about the early repayment of the loan. These provisions are regulated 

During the entire term of the loan agreement in loan repayment, the consumer has the right to return the entire amount or part of it ahead of schedule to the loan  The method of notification is determined by the contract in accordance with the rules of the lender.

 The legislator has established a maximum period during which the borrower is obliged to notify the loan of his intention not less than for  prior to the date of return of consumer loan , but left for the lender the right to reduce this period. Therefore, before early repayment, you need to read your loan agreement again.

In case of full early loan repayment the lender is obliged, within five calendar days from the date of receipt of notification from the borrower , calculate the amount of the principal debt and interest for the actual period of using the loan the day of receipt of the notification;

The borrower is obliged to pay the lender interest on the amount to be repaid inclusively until the day of the actual return of the corresponding amount .In addition, in case of early repayment, you have the right to refuse paid, but not rendered banking services.

If the borrower, when concluding a loan agreement, purchased a package of additional services and paid for them, but did not use them in full due to early repayment of the loan, the bank has no right to refuse to terminate the agreement and return funds for the unused period.

The reason for this dispute was the bank's refusal to return the commission for the provision of services within the framework of a package of banking services to its client - a former borrower under a loan agreement. From the statement and the agreement it followed that this complex of banking services was valid during the term of the consumer lending agreement. There is no provision for the extension of the term of any of the services after the expiration of the term of the loan agreement in the consumer loan agreement.

The condition of loan repayment the loan agreement regarding the provision of services within the framework of a package of banking services was recognized as terminated, the bank in favor of the client was recovered money paid for the provision of services for the unused period, compensation for moral damage, a fine and state duty to the local budget .

To summarize the above, "refinancing" can certainly help in some cases, but it's better to start learning how to save visit site for more information .