Refinancing loans with bad ki. Refinancing bad credit loans

In short, refinancing is providing a client with more favorable conditions for an already taken loan.

Refinancing can go in three ways, each of which has its own term and definition:

Refinancing - obtaining a loan from another bank to pay off one or more delays in payments in other banks (or even before the delay - in order to get a better offer). Refinancing loans with bad credit history is provided on special conditions that are different from a regular loan. All banks to which you owe money must agree to the sale of your debt to another financial institution. Refinancing a loan with delinquency is beneficial for a borrower who has several debt obligations to different banks. By combining them into one payment and receiving a new loan, the client gains the opportunity to pay off all loans.

Refinancing an overdue loan in the same bank is called refinancing. At the same time, the borrower is provided with preferential terms, which in percentage terms can remain the same, but the money is issued for a longer period. Having received a new loan, the client spends it on repaying the overdue loan. These manipulations lead to a drop in the monthly loan installment and do not increase the overall overpayment too much. On-lending is more profitable for the bank than for the client, but the latter receives an indulgence in monthly payments.

How to refinance a loan along the path of restructuring? Restructuring means changing the terms of the current loan, which is possible in case of serious financial difficulties of the client. In this case, the interest on the loan remains the same, but the loan repayment period increases, which also leads to a decrease in monthly payments. The client may be granted holidays during which any payments are frozen. Another option is to defer interest repayment, that is, the borrower pays only the principal of his debt. Or vice versa - pays only interest. And the principal debt remains unchanged for some time.

Which bank refinances loans with bad credit history and delinquencies

Refinancing is often the only way to pay off a bank loan for a client, but above all it is beneficial to the bank. Financial institutions are doing their best to attract customers by offering them favorable conditions for on-lending. On the other hand, refinancing a loan with a bad credit history and delinquency is always a risk for the bank, because the client has already proven himself on the bad side. For this reason, banks that refinance loans with delays provide a service at a high interest rate. The conditions for on-lending depend on the specific situation, which takes into account the total amount of the payment and the number of debt obligations.

In 2016, many financial institutions temporarily refused to refinance, and those banks. But a year later, the websites of banks again began to be full of offers to refinance loans on favorable terms at a reduced percentage. However, many banks do this only if the client has a good credit history. But there are those who are ready to meet the debtor halfway if he meets other requirements. And if the payment is overdue by only a few days, this fact will not be a stumbling block when concluding a new loan agreement.

Which banks are refinancing loans with arrears today? You can apply for such a service to any bank, including:

Sberbank.

Rosselkhozbank.

Bank "Revival.

While no major bank would like to have a one-time or regular delinquent customer, even major players in the banking sector have to work with such customers if they can provide:

Documents proving that the delay was caused by a good reason (illness, temporary loss of work, etc.).

Trustworthy guarantor for a new loan.

Collateral (car or property).

All costs incurred during the refinancing process, the borrower will have to bear. During the implementation of the project, a financial institution may require a new assessment of the client's real estate (if it acted as collateral) and its insurance in the company specified by the lender. You will have to do the same with a mortgage car. If there was no collateral, and now it is needed, it will also have to be assessed. You can refinance loans with early repayment, but in such a situation, the terms of the bank may provide for an additional payment.

Calculate and receive refinancing

With the question of which banks are refinancing loans with arrears today, everything is more or less clear. It remains to figure out how to get refinanced. You can determine your chances of getting a loan by looking at your own credit history. An online application for refinancing a loan is most likely to be approved by someone who, having several small loans in different banks, does not have a single delay. Such obligations may well be combined into one in a large financial institution.

Refinancing microloans with bad credit is much more difficult to obtain. Big banks shun clients with a tarnished reputation. If you do not want to pledge property or look for a guarantor, then in which banks is it really possible to refinance, how to get the necessary relief? In such situations, you should only contact regional banks or very small local ones. These organizations, in a highly competitive environment, have to survive by all means, so they are glad to every client. Moreover, here you can get the most favorable conditions.

To increase the chances of refinancing approval, the borrower is advised to submit documents confirming solvency. These include:

documents for the ownership of real estate;

certificate of salary increase;

document on the entry into the inheritance;

redemption of a mortgage paper, if the credited money was intended for the purchase of housing;

certificates of additional income;

a document on the sale of an invention or other intellectual property.

Another option is to bring a solid co-borrower to the bank. All applications for approval of the transaction are considered by the bank's management on an individual basis. If the borrower previously had a bad credit history, but his financial situation has improved, as evidenced by the documents, he may well get consent for on-lending. Even better, if the last payments were received without delay, which is evidence of the client's correction, about his serious attitude to repaying the loan.

It is almost impossible to get approval for refinancing if you come to a financial institution with a bunch of debts, with constant delays, which indicates your unscrupulous approach to resolving the issue. In such a situation, the only right decision would be to declare your own bankruptcy, which is possible in connection with the adoption of the relevant legislative act of the Russian Federation.

If the borrower agrees to bankruptcy and agrees to an agreement with the bank, he must be prepared for the deprivation of property if financial obligations on his part are not fulfilled. In the future, getting another loan will be unrealistic.

Conditions: will they be profitable?

Refinancing loans with open delinquencies has more advantages than disadvantages, but if the bank gives the client the opportunity to pay off his debts, he assumes significant benefits for himself. If lenders give refinancing with a bad credit history, their requirements for the client will be high, which translates into additional costs. These conditions must be specified in the refinancing agreement.

The attention of the borrower should be directed to the study of the following points:

interest rate;

additional payment in case of early repayment;

monthly payments;

valuation of collateral;

payment for consideration of the application;

opening and maintaining an account.

A loan with a bad credit history is always a high requirement for refinancing, so not every person is able to master such an agreement. If you are still planning to refinance with a bad credit reputation, weigh all the pros and cons in advance, soberly assess your strengths. Find out in which bank you can get approval with a higher probability of success and with the best conditions for the client. Otherwise, you are just wasting your time.

In case of delays with subsequent refinancing, you may lose the right to a tax deduction for the reporting period. To avoid this, first get the money owed to you, and then start the on-lending procedure with overdue debts.

Benefits of the microloan on-lending program

Open delinquencies on microloans make a person more financially dependent on the IFC. Potential clients of these organizations are seduced by the simplicity and speed of obtaining a loan. For some citizens, it has become a bad habit to issue such loans.

Often, the formation of debt in an MFI brings a person to complete despair, because as a result, one has to pay the entire salary every month for repayment. In such a situation, refinancing the loan is the only way out. A person in a difficult situation should contact the bank and conclude an agreement on refinancing a microloan. Some large financial institutions are suspicious of potential clients using the services of MFIs, this should also be taken into account.

How to get help in refinancing an MFI loan

The microcredit refinancing scheme is standard. The client personally visits the bank or sends an online application form. Each financial institution has its own time for consideration of applications, within which it makes a decision (approves or rejects the application).

If the bank agrees to carry out on-lending, it announces its conditions. If the borrower agrees with the requirements, the parties sign the contract. The client's debt to other organizations is covered by the bank's resources. The new loan is repaid by the client in accordance with the terms of the agreement.

This program has a number of advantages:

the ability to combine several small loans into one, which eliminates confusion and frequent reminder calls from representatives of different organizations;

refinancing of an MFI loan leads to a decrease in the interest rate of the monthly payment;

the client has the opportunity to return the debt;

the service is available even for people with a bad credit history, but on the condition that they have a steady income or collateral.

Pros and cons

Refinancing a loan has many advantages, but it is not without its drawbacks. Let's take a look at the pros first.

The burden on total debt is reduced as on-lending cuts the interest rate. In order for the client to be able to receive significant relief, he must find a bank in which the consolidation of small debts will reduce the total overpayment of annual interest by 5-10%.

A new loan is usually issued for a longer period, which reduces the amount of monthly payments. Is it possible to refinance for 4-5 years? Yes, it is quite real. If the borrower plans to cover several different loans in this way, he will definitely win. The "black list" will be finished, the bad story will disappear.

If loans were taken from different financial institutions, they could be provided in different currencies, which is not very convenient for a Russian who receives a salary in rubles. Consolidation of debt obligations by an agreement will lead to the consolidation of several loans into a single ruble loan, which is the right option in the face of instability in the dollar and euro exchange rates.

Now let's talk about the cons of refinancing.

A person, in fact, receives another loan, since most of the large banks under the refinancing program offer the client not only the repayment of several loans, but also a decent amount of cash. Many people find this offer attractive. They are satisfied with the closed loans and the money received, not realizing that they are embarking on a new adventure and binding themselves with unsustainable debt obligations. As a result, the monthly installment will only increase, and the benefits of refinancing will be zero.

Refinancing can close no more than five or six loans at a time. If a person has more debt obligations, he will not be able to combine them in one contract. The only plus is the ability to cover the most unprofitable loans.

Only small loans can be combined, which include debt obligations to shops, card loans, small consumer debts. Large loans, which include car loans, mortgages, cannot be combined during refinancing.

Other negative aspects:

It is necessary to spend more than one day collecting documents and waiting for confirmation, and in the meantime the principal debt will grow.

Refinancing is the same loan, but in addition to the basic information, it requires the submission of a repayment schedule, a certificate of the remaining debt, and a credit history.

You must personally visit the bank to write an application for a long-term loan repayment.

If you are going to apply for refinancing a loan with a bad credit history, talk to people who have gone through this program. Ask the banks for your loan history in order to independently analyze it and realistically assess your chances. Even a bad credit history can be corrected if there is time and desire; there are special schemes for this.

Do not immediately go to another bank. Ask about the possibility of taking a loan from the same financial institution to which you have a debt and a delay. Sometimes banks make concessions to their customers.

To get refinancing as quickly as possible and be able to choose the most favorable conditions, send requests to different banks. This can be done without leaving home, online. After receiving approvals from several banks, analyze their requirements and choose the most attractive option.

Even if only one bank has approved your application, this is already a step towards victory, since financial institutions rarely meet halfway in terms of refinancing for a borrower with a bad credit history.

If the refinancing program is still not available to you, try taking a new non-purpose loan, which can be:

consumer;

loans for personal use;

express lending, in which banks often do not have the opportunity to thoroughly study credit histories;

card, where the limit is small, the percentage is higher, but registration takes a minimum of time.

Reasons for refusal of refinancing

Refinancing of overdue loans is often rejected without explanation. Borrowers are at a loss about this: why did the bank refuse them? The reasons for refusal in each specific situation may be different.

A client applying for a second loan, as a rule, does not have sufficient income to cover all the debt. The bank has the ability to check the solvency of the client, so a loan for financing with a bad credit history is rejected.

Bank employees check payments not only for the current loan, but also for all previous ones. It is often impossible to refinance a loan if there are delinquencies on early loans.

The borrower offers as collateral property that has already been pledged for another loan. Re-mortgage of real estate, securities, jewelry or vehicles is not possible.

To get out of the vicious circle and solve the problem, try to arrange a credit holiday and only then look for ways to refinance.

You can also comment or ask a question.

One of the forms of refinancing the debts of troubled clients is the refinancing of loans with a bad credit history. This is a banking tool that helps to improve the performance of the loan portfolio, and gives borrowers the opportunity to alleviate the financial burden.

When applying for a loan, a bank client is quite often satisfied with everything (interest rate, repayment schedule for the loan body and interest accrued on it, loan term, etc.). Problems can start after the first few payments are made, or even earlier.

They are related:

with the deterioration of the financial situation;
disability;
military service;
business travel, etc.

With the first delays in payments Appropriate notes are entered into the borrower's credit history. The situation worsens if the bank's client does not pay or repays the debt with a large delay several times.

Attention! Even after a delay, banks often do not make appropriate entries in the credit history, but only the first five days! That is how much is given to the client in order to quickly solve their financial problems and make a mandatory payment.

On-lending methods

Refinancing with bad credit history and delinquencies is a popular practice abroad. In our country, the service is not widespread, but is gradually gaining momentum. Sometimes even the administration of a financial institution goes to meet its customers by offering more favorable refinancing terms.

In order not to accumulate fines and not worsen their credit history, borrowers are advised to contact the bank immediately after the deterioration of their financial situation to jointly search for a solution.

Often the following factors become the reason for refinancing:

Short term contract. In this case, you can try to prolong the contract by increasing the loan repayment period. In this case, the amount of the monthly payment and interest on it is significantly reduced.
High interest rate. In another bank, the loan rate can be much lower (sometimes the gap reaches 2-5%, which translates into several additional thousand for the borrower every month). In some credit institutions, there are no additional payments on which you can save.
Currency change. The decrease in the solvency of the population, as well as the fall of the ruble in the foreign exchange market, leads to a large number of delays, especially for loans in foreign currency. In order to somehow influence the situation in 2019, banks began to offer their customers to change the currency of obligations from euros or dollars to rubles.

Attention! You can also apply for refinancing to repay several loans in different banks at once. In this case, the borrower will remain indebted to only one financial institution, will not overpay on additional commissions and spend time on closing debts.

Refinancing with bad credit history: benefits of the program

The main advantage of such a program is the ability to close delinquencies and refinance on more favorable terms. It is also important that the client gets the opportunity to improve his credit history!

Important! Credit history is stored in specialized bureaus for about 15 years! Only some banks transfer information to the CBI with a note about the storage of history for 3-5 years.

The refinancing process allows you to:

Avoid fines and penalties, the amount of which can be very impressive.
Get better terms on repayment terms and interest rates.
Combine multiple loan groups into one.
Remove property from pledge (removal of encumbrance).

Important conditions for refinancing

Refinancing has more advantages than disadvantages, however, such a procedure also requires increased attention from the bank's client. All refinancing banks with bad credit history have several requirements for potential and current customers, but attention should be focused on such issues:

Additional expenses. They are necessarily spelled out in the contract, which should be studied. Noteworthy are the points indicating the interest rate, additional fees for early repayment and monthly installments, for considering an application, assessing the value of collateral, fees for opening and subsequent maintenance of an account, etc.
borrower requirements. They are often overestimated, therefore, a loss of time is possible. If there are any shortcomings in the past, you should soberly assess your capabilities.
Package of documents. To play it safe, the bank administration may require you to provide a large package of documents.

Attention! When refinancing, you can lose the right to a tax deduction for the reporting year. Therefore, it is recommended that you first receive your funds, and then start the procedure.

Which banks can be refinanced?

Only a few banks initiate such a procedure. Among them are not only large, but also small credit organizations.

Table. List of banks for refinancing bad credit loans

To find out the terms of refinancing and assess your chances, it is recommended to contact loan experts of banks. They will give a preliminary assessment of the case and describe the conditions.

Video: Refinancing bank loans

Along with the active development of consumer lending, a relatively new banking product, debt refinancing, has become widespread.

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Being essentially one of the ways to attract borrowers, refinancing allows the client to get a loan on more favorable terms in order to close their own current debt in other credit institutions.

Today, many domestic banks offer such a service, and their conditions are full of variety and differ in many parameters.

In general terms, refinancing is a process of on-lending. The borrower, having a valid loan in any bank or microfinance organization, may be faced with the fact that the conditions for it may change or become unprofitable for him over time.

This happens when changing lending conditions unilaterally, during inflationary processes and for other reasons.

In this case, he can apply to a bank that provides a refinancing service in order to apply for a loan and close all existing debts in other institutions.

In particular, this type of loan may be relevant in cases where the borrower has several open loans in different banks or MFIs.

Each of them will differ in the repayment schedule, conditions and other parameters, so that the timely fulfillment of the obligations assumed can become a significant problem.

Making one loan to repay previous loans and its further repayment on more favorable terms becomes an effective solution to the financial difficulties that have arisen.

There are several types of refinancing, or rather, separate, but very similar services.

So, refinancing is the execution of a new loan to pay off debts on other loans.

Refinancing is the closing of an existing loan and the issuance of a new loan of a similar type on more favorable terms.

And, finally, restructuring is a revision of the parameters and conditions of an existing loan with a subsequent change in its conditions.

Very often, borrowers with a negative credit history resort to refinancing services.

Difficulties in repaying a loan force them to look for ways to optimize the cost of repaying it, and more favorable terms will help to avoid long delays and a subsequent downgrade of the credit rating.

True, it is worth noting that the number of banks offering refinancing to borrowers with poor credit history is smaller, since many do not want to contact such clients and take on the possible risks of cooperation with them.

Why do you need to do this?

The answer to this question lies directly in the definition of the concept of refinancing.

Obviously, the reason for using this service is to look for more attractive credit conditions than the current ones.

The desire to optimize costs may be dictated not only by savings, but also by the urgent need to avoid the occurrence of delays in the payment of existing loans.

A positive credit history today is one of the most important criteria for potential borrowers of banking institutions, and many customers are well aware of the importance of maintaining it in perfect condition.

Another factor prompting the search for opportunities to refinance existing loans is the desire to clean up the multitude of existing loans and bring all existing debt to a common denominator.

Over time, the client may receive several existing loans, which sooner or later will lead to a rather significant burden not only on the budget, but will also take a lot of time to service and repay them.

These can be credit cards, a car loan, several consumer loans for the purchase of goods, and so on.

It will be much easier to take one loan and use it to close all available ones both financially and in terms of ease of use.

If you decide to apply for a microloan for a long term, then first of all you should familiarize yourself with the terms of the loan and the interest rate scale. You can do this by clicking on the link to the article -.

Do you want to know how to quickly apply for a microloan in cash using a passport? Then you need to go to and read the article.

How to apply?

In terms of the application process, refinancing is not much different from getting a regular loan of one type or another.

The only difference is that the bank will necessarily ask about the goals of obtaining refinancing and ask you to describe in detail all the loans the client has in other banks or microfinance organizations.

The borrower will need to indicate their number, size, provide information on the level of debt burden, the regularity of payments, and much more. The rest of the application process is similar to regular loans.

As with consumer loans, an application for debt refinancing can be submitted to the bank in several ways.

The most common of them is with the personal presence of the borrower. Having collected a package of necessary documents, and having previously checked the conditions, the client can contact the selected bank to go through the registration procedure.

This method seems to be the most preferable, since the bank, one way or another, will ask the borrower to visit its branch for paperwork, even if the application is sent online.

Not a single institution offers to receive refinancing services without visiting a bank branch.

This does not include the ability to simply take out a small loan or credit card, as is available at some financial institutions.

You can simplify the procedure for obtaining refinancing only by filling out a questionnaire and an application on the bank's website, if such an opportunity is available.

After the bank accepts and processes the information provided by the client, it will be able to announce a preliminary decision on further cooperation.

The subsequent execution of the transaction in the branch will take much less time, since the bank already has basic information about the borrower and all that remains is to check the documents and sign the contract.

Which banks are ready to make concessions?

You can meet proposals for refinancing current debt both in large retail banks and small regional market players.

Each of them offers its own conditions and often supplements them with bonus offers for customers.

Refinancing of consumer loans from Rosselkhozbank is distinguished by flexible loan parameters and the ability to choose a convenient repayment schedule.

Two repayment schemes are available to the client - an annuity or a differentiated system.

There are also no additional commissions for issuing a loan and its early repayment in full or in part.

With the help of such a loan, the client can repay the current debt even in several banks, on all loans of various types he has.

The loan amount is negotiated individually, but it cannot exceed the amount of the client's current debt.

According to standard conditions, it is 750,000 rubles for unsecured loans and 1,000,000 rubles for refinanced loans with collateral.

The standard loan term should not exceed 5 years, but the bank allows the possibility of prolongation on an individual basis.

A guarantee for a loan for refinancing can be a guarantee of citizens or legal entities, as well as liquid property.

The interest rate is in the range from 21.5 (with collateral) to 26% per annum in its absence.

More attractive conditions are available at Binbank, but in order to use them, the borrower must have an impeccable credit history.

Binbank offers to get a loan for refinancing in the amount of from 50,000 to 3,000,000 rubles, for a period of 6 to 84 months.

The interest rate on a loan depends on several factors, including the debt burden on the borrower, the number of documents provided, and whether the client is an employee of an affiliated company or receives a salary on a bank card.

In numerical terms, it ranges from 18.9 to 34.9% per annum. The decision to issue a loan for refinancing is made by the bank no more than 3 business days and is valid for 30 calendar days.

A loan is issued in the form of cash, and when it is issued, the client does not require a guarantee or collateral.

Moscow Credit Bank also has a program for refinancing debts in other financial institutions and it is called "Credit Reload".

Within the framework of this program, loans in the amount of 50,000 to 1,500,000 rubles or the equivalent amount in US dollars are available to clients.

A loan for refinancing can be issued for a period of 6 to 180 months. The withdrawal takes place in the form of cash.

If the borrower refinances loans that did not require registration of collateral, then such a loan is also obtained without a guarantee or collateral.

Debt repayment is carried out according to the annuity scheme, equal payments throughout the entire period of the contract.

As additional services, the bank offers the ability to connect to remote account control systems and an international payment card.

If desired, regular write-offs of funds to pay off debts are also available to clients.

For targeted loans in Russian rubles, the interest rate is set at 19 to 41% per annum. Consumer non-purpose loans are refinanced at a rate of 17% per annum.

You can familiarize yourself with other conditions for providing loans for refinancing and download them at.

Customers can also receive refinancing of their current debt at the All-Russian Bank for the Development of Regions. According to its terms, a loan to pay off debts in other banks can also be issued by married couples who are officially married.

This is especially true if both family members have outstanding loans in other credit institutions.

The Bank cooperates exclusively with respectable borrowers and does not practice providing refinancing to those who have had violations of financial discipline in the past.

Credit can be provided in the amount from 10,000 to 2,000,000 rubles with the possibility of prolongation or early repayment in any amount.

The term of the refinancing agreement is from 6 to 60 months. Collateral or guarantee is not required if the client refinances the loan with the same conditions.

The interest rate is in the range from 17.969 to 27.785% per annum (the full value of the loan).

The main provisions of the loan agreement can be downloaded at.

Sberbank also has its own debt refinancing program for individuals.

It covers consumer loans, car loans, overdrafts and credit cards.

The loan is provided by the bank for a period of 3 to 60 months. If the borrower has a temporary registration, then the loan term is reduced to the period of its validity.

There are no commissions for the issuance and execution of a loan, as well as for its early repayment in any amount throughout the entire period of the agreement.

The loan amount is from 15,000 to 1,000,000 rubles. Clients applying for the Sberbank refinancing program should remember that their total debt should not exceed the amount of 1,500,000 rubles.

The range of interest rates on a loan, regardless of the category of the borrower and the package of documents provided by him, is from 17.43 to 29.56% per annum.

Existing bank customers, as well as payroll card holders, can count on a reduced interest rate, but within the above range.

Refinancing loans with a bad credit history at Sberbank is possible, but only if the borrower has not delinquent them for at least 12 months at the time of contacting the bank.

If the loan that is being refinanced was issued for less than one year at the time of applying for refinancing and there were delays on it, then the bank will refuse to cooperate with the client.

Comparative table of banks' proposals for the current debt refinancing program.

Bank, program name	Loan term, months	Percent- naya stav- ka, % annual	Maxi- small sum loan, thousand roubles.	Add- body information mation
Rosselkhozbank, consumer loans refinancing				The borrower has the opportunity to choose a repayment scheme (annuity payments or a differentiated system)
Binbank, refinancing loans from other banks				No guarantee or collateral is required. Interest rate depends on the package of documents of the borrower
Moscow Credit Bank, "Credit Reload"				As additional services, insurance, issuance of a payment card or regular debiting of funds to pay off a loan is available.
All-Russian Bank for the Development of Regions, loan refinancing				There are separate offers for couples. No guarantee or collateral required
Sberbank, consumer loan for refinancing				Preferential conditions for payroll card holders and existing bank customers

How to prove your ability to pay?

As in the case of considering an application for any other type of loan, when refinancing, the borrower will also be required to prove his solvency, especially if he has violations of financial discipline.

Standard for such a procedure, the client provides for the presentation of certificates of income from the place of work.

But what about those who do not have official income or its size is not enough to get a loan in the desired amount?

To do this, you can try to prove solvency in other ways:

If the client receives a regular income, bypassing the official accounting, and simply speaking, in cash in an envelope, then drawing up a certificate of income in the form of a bank can come to the rescue.
The client will be asked to fill in the appropriate field in the questionnaire, where he will indicate the amount of unofficial earnings.
The same applies to third-party part-time jobs in addition to the main place of work.
Rented housing or other real estate can also help prove solvency.
The borrower only needs to present documents on the ownership of such property and the lease agreement itself.
An extract from a savings account in another bank, if any, can also testify to the existence of a source of income.

And for detailed information about such a type of lending as refinancing a loan, you will need to go to.

Provision of collateral

Very often, when refinancing loans, clients may be required to register collateral. This procedure is mandatory for large loans or if the refinanced loan was also secured.

Banks often consider real estate or foreign-made vehicles as liquid collateral.

To register a pledge, the client must first of all confirm the fact of ownership of it.

It is desirable that the collateral property be in the sole ownership of the borrower, because, otherwise, additional time and approval for its registration from other owners will be required.

If the client refinances a secured loan, the bank may take over the procedure for re-registration of the encumbered property from another institution or credit institution.

The details of this procedure are agreed individually, depending on the requirements and other conditions of its credit policy.

Refinancing loans from other banks with bad credit history

This subtype of refinancing is extremely rare at the moment, since most banks tend to cooperate exclusively with trustworthy borrowers.

If the client has already had difficulties, then the guarantee that they will not be in the future is very illusory. However, some banking institutions provide refinancing services even to such borrowers.

Risks are minimized by issuing a guarantee from legal entities or individuals, as well as by transferring collateral to the bank.

Without these conditions, the borrower can only receive refinancing in a small amount, and even then, subject to minor violations in the repayment schedule for previously issued loans.

What documents are required?

When refinancing debt in other banks, the borrower is required to present an extended package of documents, which consists of several blocks:

1. Mandatory personal documents of the borrower:

passport of a citizen of the Russian Federation;
loan application;
documents confirming the availability of sources of income;
documents confirming employment;
an additional identity document - a foreign passport, driver's license, TIN certificate, others.

2. Documents on the refinanced loan:

a certificate from the bank where the borrower has a valid loan indicating its main parameters (term, amount, interest rate, debt balance, repayment schedule, number and amount of delinquencies, etc.).

3. Additional documents:

confirmation of informal and other sources of income;
policies of voluntary or compulsory medical insurance;
foreign passport with stamps on travel abroad;
statements and certificates from other banks on the availability of accounts, etc.

Bank requirements

If we consider refinancing as obtaining a new loan, then the requirements for borrowers from banks are almost the same as for conventional loans:

age from 21 to 65 years;
citizenship and permanent or temporary registration on the territory of the Russian Federation in the region where the bank branch is present;
have a regular source of income;
no convictions.

In the vast majority of banks that provide debt refinancing, the obligatory requirement is also the absence of violations of the terms of repayment of previously taken loans.

Video: Refinancing. Credit history. How to get a loan with bad credit

With bad credit history and delinquencies

Getting a loan for refinancing such clients is almost impossible. The only option is the transfer of highly liquid collateral to the bank and additional confirmation of solvency by the borrower.

If he can convince the bank of his stable financial position, then perhaps he will be granted refinancing within the value of the collateral, adjusted for certain coefficients.

Pros and cons

Refinancing is the replacement of current debt obligations with new ones on market terms. The conditions and procedure for the operation depends on economic factors and the current jurisdiction. It is influenced by interest rate risk, features of banking regulation and the degree of creditworthiness of the borrower. When the conditions for the debtor are unfavorable, the procedure is carried out in the format of restructuring.

Refinancing has the following goals:

repayment of previous debts- bank customers take new loans to pay for previously taken loans;
payout optimization– lowering the interest rate, reducing the amount of regular payments;
interest risk management - transition from a system with fixed rates to floating ones;
debt consolidation- replacing several loans with one loan;
repayment profile adjustment- introduction of grace periods, prolongation of the return of money.

Borrowers are satisfied with refinancing in accordance with market conditions when there is a reduction in the interest rate. The service is useful for people with a large balance of outstanding debt. It is rational to resort to the procedure with the economic benefit associated with lowering the rate, if the commission for early repayment of the current obligation is high. It will be useful to make a transaction in order to change the currency of the loan. If the loan was issued in US dollars, then after refinancing it will be possible to repay the loan in rubles, getting rid of the linkage of the amount of payments to the current exchange rate.

Refinancing bad credit loans

Some banks offer clients refinancing loans with a bad credit history, allowing them to close delinquencies on favorable terms.

Reference! Credit history is the fulfillment by the borrower of obligations to banks to repay loans in accordance with the terms of the agreement. Based on history, financial structures calculate a score to assess the creditworthiness of a potential client. This practice has been introduced in Russia since 2004, when Law No. 218-FZ of December 30 was adopted, regulating the credit histories of individuals. Information on the fulfillment of obligations by the borrower is stored in a special bureau for 15 years.

By participating in the refinancing program, clients with a bad history can improve it. Through the procedure, the borrower gets the following opportunities:

the possibility of paying a penalty is excluded;
avoids the imposition of penalties;
change in repayment terms;
lower interest rates;
removal of property from under the pledge.

The process does not differ from the standard loan processing and is associated with the collection of the necessary package of documents. The list of certificates and conditions depends on the specific financial institution. Surely you will have to confirm a permanent income using the 2-NDFL form, wait for a decision on the application and, upon its approval, conclude an agreement with the bank. You will need to confirm your identity with a passport and present a secondary document, for example, a driver's license, TIN, foreign passport. Banks require presentation, certified by the employer.

In addition to documents confirming the identity of the borrower and his solvency, it is necessary to provide papers related to the loans being closed. Provides for the presentation of certificates indicating the amount required for early repayment and the date of the last payment on the loan. It is necessary to present documents characterizing the loan and informing about the amount of the interest rate, the amount of debt and the repayment period. You will need to disclose the details of the credit account.

Attention! If you plan to refinance several loans from different banks, then for each of them you will have to provide such information.

Which loans can be refinanced and how

After the transaction is completed, the previously deposited funds are transferred in full to the account of the newly formed loan. Previous loans are automatically closed ahead of schedule and the individual will no longer make payments on them. Mostly clients are offered to refinance a consumer loan with a bad history, regardless of its purpose:

cash loans for various purposes;
targeted commodity loans;
overdrafts;
cards.

Banks offer the service of refinancing several types of loans simultaneously. Such a scheme allows you to reformat a cash loan, card debt and commodity loans. It is possible to combine several loans taken from different financial institutions. The client will be able to simplify the task, since instead of several payments, he will have only one on more favorable terms.

The procedure can take place according to several schemes, known by different terms:

On-lending- old loans are completely closed, and the borrower receives a new loan on the same terms.
Restructuring- re-issuance of a loan with the provision of new, more favorable conditions. If the borrower, for objective reasons, is not able to fulfill the obligations assumed earlier, but is ready for a constructive dialogue, then the bank makes concessions to him.
Refinancing- issuance of a new loan to pay off old debts. The difference from on-lending lies in the use of this scheme when conducting a transaction with another bank. For example, a client took a loan from Sberbank of Russia at 18% per year, and refinanced it from the Bank of Moscow at 16.5%.

In addition to consumer loans, financial institutions provide an opportunity to refinance mortgage loans. In fact, we are talking about a new loan for the purchase of real estate. The borrower simply chooses a bank with more favorable terms and concludes a new contract. The result can be expressed in a decrease in monthly payments, lower interest rates, prolongation of terms.

For example, in "J&T Bank" you can take a mortgage in the amount of 20 million rubles at 9% per year. "Transcapitalbank" offers rates from 7.9%, but does not give loans in excess of 9.5 million rubles. The client wants to buy a house for 13 million and takes out a mortgage from J&T Bank. When the amount of debt is reduced to 9.5 million, he can refinance it to Transcapitalbank by lowering the interest rate.

Important! Banks will not allow you to refinance a mortgage with a bad credit history, as the loan amount is too large and organizations cannot take risks by cooperating with unreliable clients.

How to fix history

If you want to borrow a large amount from a bank to purchase real estate, then you need to correct your credit history. There are situations when errors appear in it, consisting in displaying delinquencies, debts, open loans, which in reality do not exist. Correction in this case involves filing an application with the bank that provided such information. If the structure does not respond for a long time, then you need to contact the bureau, where information about all clients is accumulated. A claim will be sent to the bank and, after its consideration, the necessary changes will be made, about which the applicant will be informed within a month.

Important! The Bureau does not change history on its own initiative. The organization is guided by information provided by credit structures. The update takes place automatically without human intervention.

When history is spoiled not by a coincidence, but because of violations committed by the borrower himself, it is necessary to atone for the mistakes made by positive dynamics. It is required to activate refinancing with delinquency and bad credit history and meticulously make payments. Information about previous violations will not go anywhere, but potential creditors will see that the citizen has improved and can meet him halfway.

Interesting fact! Banks do not consider delays of up to 30 days as spoiled history. Such violations are considered technical and may occur for objective reasons. Be wary of customers who are late for a period of 90 days or more.

Where is it better to refinance a loan with a bad history and what to do if refused

It is easier for borrowers with a bad history to go through the on-lending procedure than to refinance. The bank that issued the loan is interested in returning the money and will go to meet the client. An exception will be cases when too much time has passed and the organization, desperate to wait for the return of money, has sold the debt to collectors. If a refusal to refinance is received, then you can apply for a commodity loan, where there are minimum requirements for borrowers. Take advantage of one of the offers on the credit services market.

The total debt of Russians on microcredits now exceeds 100 billion rubles and is growing rapidly. Unlike a bank loan, microloans in case of delay have an unpleasant property to grow like a snowball. In this regard, the popularity of their refinancing is growing.

The Agency for Refinancing Microloans notes that in the first half of 2017 alone, the demand for this service increased by more than a third, and the average amount of on-lending increased from 100,000 to 120,000 rubles. Let's talk about what refinancing of microloans is and how to use it.

History from life

“Foolishly, in July 2016, I took a microloan of 3,000 rubles for 14 days. Once I paid 2 tr., and then I lost my job, and the loan stuck. On November 30, I received a call from the MFI and offered to talk.

At the meeting, they showed a paper with a debt of 66 thousand. I almost fell off my chair, and they explained: every day of delay there were interest (2%), fines of 0.25%, and some other penalties.I said that I'm unemployed and I don't have that kind of money.

They answered that they understand my difficult situation and if I pay 40 thousand by the end of the week, the rest of the debt will be forgiven. With knowledge of the matter, they told where you can quickly get money (sell jewelry, beg from friends and acquaintances, take a loan for relatives, and so on). They threatened, of course. I didn’t think that because of the unreturned thousand they would disperse like that. ”

The drama of the situation is added by the fact that MFIs collect debts much more aggressively than banks. Therefore, if your reputation is dear to you, as well as the peace of mind of your family, try by any means to get rid of the debt, or better, the microloan itself. One of the best ways to do this is by refinancing.

How to refinance a microloan

Since microloans are issued, as a rule, without a serious check of the credit history and solvency of the borrower, financial institutions a priori consider MFO clients as a factor of increased risk. Hence certain restrictions on refinancing.

The easiest way to refinance a microloan is at an early stage, when you regularly pay off your debt. In this case (and if there were no delays before), you are the owner of a good credit history, and the products of many banks are available to you.

Yes, most often you can get not the most profitable loan, besides burdened with insurance, but compared to hundreds of percent per annum from MFIs, such conditions will seem like manna from heaven.

Another thing is if you have already made a delay, which is reflected in your credit history. In this case, the range of opportunities for you quickly narrows. Refinancing in another microfinance organization or a new loan in your own - that's all the options.

However, there is room for significant improvement. In most MFIs, each subsequent microloan is given at a more favorable percentage than the previous one. Even with a large debt, the likelihood of refinancing remains, especially if you do not have property.

It is more logical for a microfinance organization to get at least something from you than to futilely shake the borrower with help or sue him.

Three ways to refinance a microloan

There are three ways to get out of an impending or deepening debt hole.

Method #1: Refinancing a microloan at a bank

The most successful holders of MFI loans are refinanced in banks. Most often, we are not talking about refinancing in the full sense of the word, but about a new consumer loan, with which the bank client independently extinguishes a microloan.

As a rule, this happens at an early stage of debt formation. And since the average amount of a microloan in the Russian Federation does not exceed 30 thousand rubles, it is not so difficult to take a similar or slightly larger loan with a good credit history.

The most realistic option would be to apply for a credit card or get a loan without proof of income. There is an opinion that there are banks where they do not look at credit history at all, but this is not so. CIs may not be checked at MFIs (and there are fewer such organizations), and the bank always analyzes the client's credit history.

Another thing is that Tinkoff, Renaissance Credit or Home Credit Bank are much more loyal to the ratio of the borrower's income and the loan amount than, for example, Raiffeisenbank or VTB24, so getting a loan from these financial institutions will be easier than others.

Factors that increase the likelihood of refinancing a microloan in a bank:

Absence of delinquencies on any loans in the credit history
High official income
Having liquid property (cars, real estate)
Permanent residence in the region where the bank operates

Factors that reduce the likelihood of refinancing a microloan in a bank:

Delays on any type of loan
Lack of a permanent job and official income

As an example, let's take on-lending an amount of 30,000 rubles received in Zaimer under the most loyal program (0.63% per day) for a six-month consumer loan of 30,000 rubles from Renaissance Credit at a maximum interest rate of 26.5% per annum.

Method #2: Refinancing a microloan in another MFI

If banks refuse a loan, and the debt grows dangerously, you can try to get money from another microfinance organization - on bail.

Refinancing of microloans is carried out by specialized services. In particular, this is the Rusmicrofinance group with its portal Refinance.rf (Agency for the Refinancing of Microloans). There is a real scheme for on-lending: they are sent not to the borrower, but to the previous lender.

In return, a loan is provided on more favorable terms. If most MFIs issue short-term loans at 1.5-2% per day (up to 730% per annum), then the rates in the refinancing agency are as follows:

The credit broker NKB Group, operating in St. Petersburg and the Leningrad Region, has less clear refinancing conditions: the company declares an interest rate of 0.21% per day for an amount of 100,000 to 500,000 rubles with a loan term of up to 5 years.

History from life

“I didn’t believe until the last moment, but they really helped! I signed an agreement with Refinanceruy.rf for a year, a monthly payment of about 4 thousand rubles - compared to 8 thousand in Quick Money, this is just happiness. They transferred the required amount directly to the "DB" the next day after the conclusion of the contract, now I pay like a bank"

Of the minuses of this method of on-lending, we note the mandatory provision of a certificate of income, as well as many other documents. With an amount of more than 300,000 rubles, a guarantor is required, or even two.

It is more profitable to refinance microloans secured by real estate. For example, in Moscow and in the Crimea there is a credit consumer cooperative "Promoting the Development of Mutual Lending". This organization is also engaged in on-lending, and replenishes its ranks.

For example, by joining this CPC and paying from 600 to 2,000 rubles as a membership fee, you get the opportunity to refinance your loans in an MFI in the amount of up to 100,000 rubles at a rate of 48% per annum for up to 13 months.

A prerequisite for such an offer is a deposit. The calculator on the website shows: if you take 33 thousand rubles, in a year you will give back almost 45 thousand, the monthly fee will be 3460 rubles, the one-time payment will be 660 rubles.

History from life

“When the “wheel of interest” from three MFIs drove me to despair (I paid 20 thousand rubles of one percent, and they grew all the time), I decided to take a chance and get a big loan on normal terms, pledging an apartment. I read about banks that everything is reliable and conditions are normal with a pledge.

It turned out that this is not the case with MFIs. I called several companies, sent documents to five of them. Approval for the amount of 100 thousand received in two MFIs. But they refused to provide bail forms. They said that as soon as I come to sign, I will see it. It turned out that they offer sale and purchase agreements with a repurchase. That is, arrange an apartment for them and get money. The apartment costs 3 million, and for the sake of 100 thousand, I was not ready to do so.

Friends suggested a company that works with microloans secured by a pledge agreement. The rate turned out to be 5% per month, and it took three days to complete the entire process (including the registration of the pledge).

The third approach to refinancing microloans can be assessed on the example of the St. Petersburg company "Analytic Finance". There are two types of conditions here. If you combine credit cards, commodity or expensive ones in one package with microloans, then the interest rate will be from 25 to 27.5%, and the maximum term is 5 years.

But if you take money to refinance another loan, then the interest rate increases to 80% or more for a period of a week to a year. But your application will be approved even if you have a bad credit history. But the benefits will still be significant.

So, when refinancing a monthly and overdue for another month microloan of 30,000 rubles, taken under the standard 720% per annum for many MFIs, new conditions (80% per annum for 6 months) will overlap the original ones by almost 45,000 rubles:

It is clear that we did not take into account the insurance and commissions that the bank can take from the borrower, but even with them the difference will be approximately twofold.

Method # 3: On-lending a microloan in the same MFI

The on-lending service in the same MFI where the initial microloan was taken is, by and large, a clever way to capitalize on the difficulties of the borrower. This program is called "": if the payer is not able to make the next installment, he is allowed to pay the required minimum, and the return period is extended for a certain number of days (from 7 to 45 in different MFIs) depending on the rules of a particular microfinance organization and the type of client. For each day of “prolongation”, the borrower pays the usual interest for a microcredit.

Interestingly, for many MFIs, this service is turned on automatically if the client has not paid on time. This makes it possible to receive from the borrower much more of those marginal fines that will go when the “prolongation period” ends.

Let's say Turbo Loan has a daily commission of 2.17%. If a person took a microcredit of 10,000 rubles for a week, he will have to return 11,519 rubles. And with the “prolongation” service, after 21 days he will return 14,557 rubles already.

It makes sense to use such a “restructuring” of the loan if you are firmly confident in the receipt of personal funds during the microcredit extension period. Otherwise, the debt will only grow, and fines will be charged already on it.

How to refinance a microloan

The refinancing scheme is standard. All MFIs that refinance microcredits have an online application form, according to which a decision is made within 1 hour to 1 day. If everything is in order, you send scans of refinanced loan agreements to the new lender.

Then the MFI offers to choose the amount of the monthly payment (not arbitrarily, of course, but within the limits of existing programs). An agreement is signed, which indicates the target nature of the loan, the amount, conditions and details of the recipient of the money. Funds are transferred to the account of the previous creditor.

However, this does not happen everywhere: for example, in Analytic Finance you will receive money in your hands, after payment you will need confirmation of closing loans in other MFIs, otherwise the rate may increase from 80% per annum to 360%. Then the payment begins according to a new schedule - usually monthly or twice a month, not more often.

When refinancing a microloan at a bank, the procedure is similar to obtaining a new loan (yes, it is such in reality). You submit an application and documents, wait for approval, receive money, and repay the existing microloan yourself.

Refinancing microcredits: requirements for borrowers and necessary documents

Unlike the issuance of microloans, on-lending at a lower interest rate in large MFIs is impossible without providing a package of documents, sometimes quite voluminous. Requirements for clients are also quite stringent.

The age of the borrower is from 21 years (up to 25 years - a guarantor older than this age is required) to 70 years (NKB allows up to 75 years). CPC "Promoting the Development of Mutual Lending" is ready to refinance loans to clients from 18 to 67 years old.
Some MFIs require work experience of at least 3 months (from the borrower or guarantor).
Citizenship of the Russian Federation and permanent registration on the territory of the Russian Federation are required (not in all MFIs. In Analytic Finance, for example, they also lend with a temporary residence permit).
Confirmation of income and employment (not required in Refinance.rf and some other MFIs).
At least one payment must be made on the loan to be refinanced.

The best banks for refinancing microloans

Since banks do not carry out classical refinancing of microloans, those that lend money without collateral and with a minimum of references, as well as banks where they look through their fingers at not the best credit history, will be most suitable for on-lending.

Banking products with a minimum package of documents for replacing microloans

Bank's name	Interest rate and amount	Documents and conditions
Sberbank, unsecured consumer loan	From 30,000 to 3,000,000 rubles.	Passport, certificate 2-NDFL, minimum work experience of 3 months, permanent or temporary registration in the Russian Federation. For owners of a salary account with Sberbank, documents confirming employment and income are not required.
Tinkoff, Platinum credit card	Up to 300,000 rubles.	Passport scans, TIN. Income documents in electronic form can be provided to reduce the interest on the loan.
Renaissance Credit, a loan for urgent purposes	From 30,000 to 700,000 rubles.	Passport + second document of your choice (VU, international passport, registered bank card, etc.). To reduce the rate - confirmation of income, solvency (document for a car, real estate, etc.).
OTP Bank, cash loan	From 15 thousand rubles. up to 1 million rubles	The passport, . With a loan amount over 200 tr. copy of labor + certificate 2-personal income tax.
Alfa-bank, cash loan	From 50 thousand rubles. up to 1 million rubles 15,99% – 25,99%	Passport, the second document to choose from (VU, passport, TIN). For a lower rate: a 2-personal income tax certificate + a document confirming the income of your choice (copy of labor, document on a car, etc.)
Vostochny Bank, cash loan	from 30 thousand rubles up to 500 thousand rubles From 14.9% to 29.9%	Passport + a second document confirming your stable employment and income level (certificate 2-NDFL, or a certificate in the form of a bank).

History from life

“In the past, there was a 2-month delay on a loan, and although the loan was closed a long time ago, banks constantly refused to apply. I needed 50 thousand rubles - I had to take microloans in three MFIs. Just in case, three days later I applied to Tinkoff for a credit limit of 30 thousand - I thought I would close 2 microloans. An employee called, we had a good talk, rewrote the application and approved the card limit of 60 thousand! Closed all loans. But, of course, they have a service ... A week before the next payment, they start to gouge with SMS, so I try to pay early.

How to refinance a loan with bad credit

Interest rates on short-term loans are so high because this MFI insures itself against delays on the part of the clientele. Hence the announcements like “We give money even to the homeless”, found on the Web. Maybe they don’t give homeless people, but it’s not so difficult for a person with a damaged credit history to get money to refinance a microloan. If the delay is single, try applying for a Tinkoff card. Even if you are charged a rate of 40% per annum, it will be much better than the available 2% per day.

If the banks refuse - a direct road to MFIs that refinance microloans. Here, not a credit history will be of great importance, but the presence of a steady income and a place of work. If you have it, the chances of refinancing interest at 75-80 per annum increase.

Be wary of loan brokers who promise loans with any credit history. Especially with those who ask for money in advance.

History from life

“For God's sake, do not believe those who promise to help you get a loan with a bad credit history. I have already run into outright scammers twice. The scheme is as follows: you submit an application on the Internet, they call you back supposedly from the bank and say: the application is approved, drive up.

I’m flying with joy, on the way the “consultant” calls me three times, all the time from different numbers. It does not allow you to concentrate and think. When I approached the bank, he called back again and said that he had "convinced" the bank's administration, it was only necessary to "grease" the head of the security service. He, like, agrees for a modest amount, but he will only take money outside the bank.

I run to borrow 10 thousand from acquaintances, again I go to the bank. Some bearded man is waiting in front of the door, he introduces himself as the boss. Takes the money, goes into the building. I'm trying to call the "consultant" - the numbers are not active. At the bank, of course, no one had ever heard of a bearded head of security. With me, they also divorced a woman with a small child. Don't give any money up front!"

Is it possible to refinance a microloan with a delay?

Information about late payments on a loan or microloan is transmitted by different organizations to credit bureaus (one or several at once) with varying degrees of efficiency. There are banks and MFIs that report to the BKI about late payment in a day, there are those that wait 3-4 days to avoid taking into account “technical” delays - when the borrower, for good reason, did not pay the same day.

Accordingly, many other credit institutions quickly become aware of non-payment on a microloan. Hiding the fact of delay is pointless and even harmful. On the other hand, it is useful to know what criteria for delaying payment are considered significant for banks and MFIs. The "barrier" in front of hopes to get a loan on at least some decent conditions is closed with a one-time delay of 30 days.

Even some MFIs will be afraid to contact a person who has delayed payment of a loan for 90 days. The most severe case is open arrears on the date of filing a new application.

The list of MFIs that can be re-borrowed if the current overdue debt is pressing is not too long, but it is available.

5 MFIs with the most loyal attitude to credit history and delinquencies

MFI	Interest rate and amount	Conditions
Credit24	9000 - 30000 rubles. From 1.9% per day for 7-30 days.	A very bad credit history may be offered to be corrected first by taking and returning successively several minimal loans.
Seimer	1000 - 30000 rubles. From 0.63% to 2.2% per day for 7-30 days	For regular customers, the interest rate is 3 times lower than for first time customers. The service "Improvement of credit history" costs 1700 rubles.
eCabbage	100 - 30,000 rubles. From 1.7 to 2.1% per day for 7-30 days	If you have not used this service before, then the first loan will cost you 0%, subject to timely repayment.
CreditPlus (Credit Plus)	500 - 15000 rubles. 0.5 to 2.5% per day up to 30 days	There is an option “Loan Extension” during which you can extend the term of the loan if you do not have time to repay on time. You can also use bonuses under the Cashback program. For new clients, the first loan is at 0%.
MigCredit	3000 - 98 000 rubles. from 97.655% to 358.404% per annum, up to 48 weeks	A variety of credit programs, long credit terms. High approval rate, including for borrowers with bad credit history and informal work.

Frequently asked Questions

What loans can be refinanced?

In MFIs and brokerage houses engaged in on-lending, up to five microloans can be refinanced, for each of which at least one payment has been made. This includes loans taken for the first time and microcredits of regular clients of MFIs.

On-lending of overdue loans is carried out in the format of obtaining new microcredits. At the same time, conditions do not significantly improve, but you get rid of overdue debt - this is good for your credit history.

Why refinance microloans at all?

Until March 2016, the accrual of interest on microcredit, including in case of delay, was not limited to anything, therefore, such cases as in Saratov, where in August 2015 collectors bricked up the debtor’s door with building foam, and at the same time the entrance were considered almost the norm into the elevator at her site. The woman has accumulated a microloan debt of 50 thousand rubles (the initial microloan was 12 thousand).

After the next amendments to the federal law on microfinance activities (No. 151-FZ) come into force on January 1, 2017, the maximum amount of interest, penalties and fines in case of delay is limited to twice the loan amount. That is, if you took 30 thousand rubles from the MFI, then without even paying a penny and if you are late in payments for a year, you will not owe more than 60,000 rubles. And yet the amounts remain very tangible - as in this example, where 90 thousand rubles are required to be returned.

You can avoid a significant overpayment if you stop the occurrence of debt in the bud - preferably even before the stage of the formation of a delay. Then you will save tens of thousands of rubles on interest, save the purity of your credit history and save your nerves, which is also important.

Real life example

“I worked in a cool company, in a modest position, but I was pleased with everything. Circumstances developed in such a way that I had to take three loans from MFIs in a row, on the third one I could not repay 30 thousand in time, then re-borrowed, then another - and off we go. The total debt turned out to be 50 thousand. The collectors called me once and that's it, I thought they were lagging behind. And they, it turns out, began to work on my superiors.

They told me later that they called all the bosses three times a day and dripped on their ears - why are you keeping a scammer at your place. And in the end, the head of the department came and said: either solve your debt problems tomorrow, or the door is over there. I had to quit."

Is it true that MFIs approve almost all applications for microloans, but much less for refinancing?

In the statistics presented on the websites of microfinance organizations, the percentage of approval of applications ranges from 93 to 99%. It is difficult to vouch for the accuracy of these figures, but judging by the reviews, they are not too far from the truth. But the same cannot be said about re-crediting.

History from life

“My parents needed urgent repairs in their house, they issued several microloans in different MFIs, but they didn’t manage to repay them on time - both pensions and my salary went to buy a boiler for heating. Fines began to accumulate - every month they paid only them and interest (about 17 thousand), the loans themselves had only to be extended.

I applied to Refinance.rf, twice asked for a loan in my name to combine all the loans of my parents - they have such a service. I have a credit history with one delay of 5 days, a salary of 40 thousand. They didn’t give it – without explanation.”

Why don't banks offer to refinance microloans?

There are two factors behind the reluctance of banks to engage in on-lending to MFIs. First, the reason is the small amount of debt. Borrowers who are able to fulfill the conditions of banks (permanent income, length of service, registration, good credit history, and so on) cannot physically accumulate large debts in time. And a rare bank will give 20-30 thousand rubles - more often it starts with 50,000 rubles.

Debtors with large amounts of loans and fines are of no interest to banks, since they are problem customers. Keep in mind: if your credit history has a record of a microloan, even repaid on time, banks will analyze your solvency with more attention.

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