A good credit history is the key to large limits and favorable interest rates. Is it worth ruining it and jeopardizing the ability to apply to banks in the future because of a relatively small debt? Hardly.
Let's make it clear right away that bank collection service employees must work strictly in accordance with legal requirements. Their job is to remind you of the debt and help you find ways out of the current situation. Therefore, you should not ignore the calls. But since we are talking about an existing debt, there will be little that is pleasant in such conversations.
Do not forget that, in accordance with current legislation, the debt repayment demand may be delivered to you personally. Visits from collectors are not a myth, they are really possible.
4. Demand for early repayment of the loan
Most contracts provide the bank with the right to demand lithuania mobile database early repayment of the loan from the borrower if the loan is not repaid. Simply put, even if you have several late payments, you may not be allowed to “get back on schedule.” This means that you will not be able to pay off only the missed payments. You will have to pay off the entire debt at once, which is usually much more difficult, since the amount is much larger.
The bank makes a demand for early repayment of the loan at its own discretion, guided by the current legislation and the provisions of the agreement. This does not always happen with 1-2 delays, but often becomes a consequence of malicious evasion of loan payment.
5. Court
The bank can initiate proceedings. And even if the delay is only a few months. With a relatively small loan amount, its representatives will apply for a court order. If the court satisfies the request, then it will not even be necessary to summon the debtor. They will simply send him a copy of the order by mail.
The second option is a lawsuit. The bank will apply to the court with it if the debt is large, or if the borrower cancels a previously issued court order. The result will be the same: if the decision is in favor of the creditor, the documents will be sent to the FSSP or to the banks where the debtor has accounts. Collection in this case will be compulsory.