Situations are different, and any, even the most competently thought out plan can be upset by unforeseen circumstances.
For example, a law-abiding borrower can suddenly become seriously ill or even lose work, and he will have to face serious problems when repaying a loan.
What can be done in this situation?
To begin with, do not panic, desperateSprinkle the head with ashes or start drying the biscuits. It is better to assess objectively your situation and plans to exit from the situation that has arisen. On-lending - to flee to another bank for a new loan and to get into another debt in order to cover old ones is not the best option. Also, you should not go to extremes and save yourself from creditors in the forests, mastering extreme survival in the taiga. A more sensible option is to contact your bank and try to solve the problem together. After all, if we logically argue, the bank (on the one hand) is interested in ensuring that the borrower fully pays for the loan, and (on the other hand) it does not need extra court proceedings.
What can the bank offer as an exit from the current situation?
Option 1. Provide a deferral of payments on the loan, giving you the opportunity for some time to restore its solvency.
Option 2. Extension of the loan period by changing the schedule of monthly payments, while decreasing their amount.
Option 3. Conversion of the loan to another currency in order to reduce the amount of payments.
For your part, you, as a borrower, should alsoMake every effort to solve the problem. If your financial situation worsened due to illness, provide the bank with all the necessary certificates that will confirm this. If you are fired, then try to get a new job, even if it is paid less or the post is lower than the previous one, at least temporarily, until you repay the loan. While you are looking for a more suitable option for yourself, you will be able to cope with current payments.
If you took a loan to buy a new apartment,It can be rented or sold. Naturally, the latter option is undesirable, especially in the context of the economic situation in our country, but in an extreme situation this may be the only way out. Whatever solution you choose from the situation, the main thing is not to delay it, hoping "at random", but to start solving the problem immediately. But first, think carefully and weigh it.