In case of difficulties with repayment of the loan, debt restructuring is the best solution for both parties. The bank has a chance to pay its debts on time, and the indebted person receives legal assistance and internal peace. When it becomes more and more difficult for you to pay back installments of your debts, it is time to restructure your debt.

It consists in introducing changes in the conditions of repayment of the borrowed amount, which will allow to adjust the burden to the current financial situation. As a result, they allow repayment of debt on more favorable terms, without the need for a bailiff. This is especially good if your financial situation has changed significantly, for example due to job loss or illness.

The sooner the better


When financial problems arise, the most important thing is to remain calm and start acting. Avoiding contact with the creditor, not answering the phone, throwing calls to the trash are the worst way. Contrary to appearances, you should contact the creditor first.

The bank also wants to find the best solution for both sides. In the event of delays in payment up to 90 days, the bank usually charges interest for each day of delay and remits the case to internal debt collection.

In such a situation, it is in the interest of both the indebted person and the bank to reduce the installment amount. Thanks to this, you can repay your loan without delay. If this is only temporary trouble, it is also possible to suspend the loan repayment for a maximum of three months. Such “credit holidays” can be helpful in regaining financial balance.

Possible solutions


After 90 days, the creditor usually has the right to terminate the loan agreement, which results in the need to repay the entire debt within 30 days.

If the creditor or the debt collection agency acting on his behalf finds that the amicable means of recovery have run out, they can take the case to court and even involve a bailiff.

Before the bailiff begins his work

Before the bailiff begins his work

It is worth trying to restructure the debt . It will restore the agreement to the bank and allow you to change the originally agreed loan repayment rules. As part of the restructuring, you can:

  • reduce the installment amount, extending the repayment period,
  • temporarily suspend loan repayment,
  • set an individual repayment schedule,
  • write off part of the liability.

Unpleasant consequences can be avoided. It is important to remember not to contact the bank. Failure to receive correspondence will not stop the bank from initiating the recovery procedure. The start of debt collection activities usually causes avalanche of debt and generates additional costs. However, there are many possibilities for debt restructuring. In each situation, you can find a solution individually tailored to the situation of the individual.

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