The draft law to write off credit card debt is in the state Duma under development. Maybe in 2021 USAне, unable to repay debts to the Bank, will be subject to a credit Amnesty and freed from excessive burden.
Mired in the credits
The situation on the Russian market of credit services is close to critical. Echoes of the financial crisis, Western sanctions and market stagnation resulted in the formation of unrecoverable debts from a large number of citizens. The number of loans issued continues to grow steadily. Experts believe that one of the main reasons for the growing debt load of the population — the availability of loans. This is especially true of micro-loans — cash loans, with great interest for the use of funds. To readily available, but "expensive" money can often be no income verification and no collateral bail bonds.
Representatives of the banking sector, believe that citizens do not always adequately assess their physical capabilities. Financial illiteracy is another cause of the accumulation of non-performing loans. The debtors justify their position of low income, constant price hikes or unexpected situations, knocks them out of the rut. As practice shows, often a few missed payments turn into astronomical debt. To the principal amount added fees and penalties. To solve the problem of debtors take a second loan, thus forcing themselves into debt.
This state of Affairs adversely affects the country’s economy. Because the loans form a temporary increase in production, creating high visibility environment. In the end, this can result in production beyond effective demand, overproduction and worsening economic crises. In simple terms, people buy what is, in fact, not earned. The debt bubble, sulking in the market of consumer crediting, at any time may burst. The best option out of the situation — the debt on loans to individuals. that such a proposal was made by the deputies of the Communist party.
According to United credit Bureau as of April 1, 2018, the total bad debts USAн to banks was 1.52 trillion. rubles., and on April 1, 2020 are already 1.6 trillion. RUB According to experts, in 2021 bad debt continue to rise, which threatens the banking crisis.
The essence of the Amnesty bill
Unfortunately, to write off all debts for loans not fully succeed. If the bill is approved, then in 2021 using a credit Amnesty will be cleared only fines and Bank penalty. That is, the principal and interest return to the Bank still have. According to the text of the new bill, the citizen will have the opportunity to repay first the principal debt, and then proceed to the payment of interest for the use of funds.
The exemption will not be granted automatically to all indebted. Each case and the applicant will be considered individually. Deputies explain who will write off the debt is a bona fide citizen, caught in a difficult position. "Good" reason can be considered:
- the loss of a job;
- illness of the borrower or a close relative;
- the loss of a single housing.
Thus, to malicious defaulters, do not rely on the cancellation of debt.
The authors of the law care not only about those who owe, but also about those who have. In the result of the credit Amnesty the organization will not remain "with nothing". It is assumed that a portion of the lost funds to banks and MFIs will return the state of the Federal budget.
According to the Central Bank the total amount of retail loans on April 1, 2020 increased to 15.5 trillion. RUB compared to 12.6 trillion. RUB on 1 April 2018. According to representatives of banking institutions, with the current level of the average salary people take loans not only for major purchases, but also on the things of the first need (small appliances, clothes, shoes).
What to do until the law took
Experts advise not to sit idly by, waiting for the bill. It is recommended to take the following actions:
- Contact the Bank or MFI and to write the application on credit restructuring. Maybe the user will go to a meeting and the amount owed will be divided over a longer period, thus reducing the monthly payment.
- To assess the available property and to sell some part of it. The money to pay off the loans.
- To turn on the saving mode. To live solely within your means and not spend money on something without which you can do.
- Try to find additional sources of income. At the present time to try yourself as a freelancer is available to virtually everyone.
- To borrow money from close friends or relatives.
To forever get out of debt experts recommend not to take new loans, not to use a credit card and the installments from the shops.