If the condition has been approached bad credit, then you do not need to panic. Stay calm and cooperate with the relevant bank. Do not take yourself away from the phones bank because it just adds to the problem. Avoidance will only give a bad assumption on the part of the bank that you do not have the intention to repay the loan. It could be that the bank will continue to bring in debt collectors if the debtor does not want to cooperate well with the bank. You can visit the site http://www.nucredits.com/.
You can go the bank and talk well. Say your situation honestly and clearly how you can be in a bad credit position. Try to apply for restructuring the loan to the bank. This method is guaranteed to solve the problems of your bad credit.
Restructuring is an effort that can be done to improve the credit of the debtor or borrower. The improvement was made because the debtor had difficulty making payments to pay off debts. In general, there are three types of restructuring that can be given to borrowers who are in a bad credit condition. Three types include:
- Rescheduling (Rescheduling)
A loan or credit definitely has a term of payment for debtors to pay off the debt with interest. It is known as a tenor. In the case of the restructuring of bad loans, the banks will adjust your loan tenor to be re-installment loan payments.
Tenor loans from borrowers who have bad credit extended by the bank to the installment to be paid could be getting lighter. The tenor extension will be tailored to the debtor’s ability to pay. For example, you have a Vehicle Ownership Loan for one year but stalled in the middle of the road. The bank eventually did reschedule your loan tenor to three years so that you can start again because of the automatic installment payments into smaller installments.
2. Terms of Return (Restructuring)
There are conditions that can be changed by the bank when they discover there are customers who confirmed he was experiencing difficulties in payment. The requisite changes may include changes in payment schedules, duration, or other requirements. But that must be underlined, this return requirement can be done with the maximum ceiling does not change the terms of credit.
The diversity of requirements that can be given back by the bank to resolve the problem of bad loans is expected to make the customer at least able to pay the loan principal. A case in point, when business slows down and lose up eventually can not pay the loan and trip over bad loans, the banks can offer a new loan in the hope you can re-grow the business. Thus, you can develop the later effort to pay your loans until repaid.
3. Structuring Back (Reconditioning)
Simply put, the realignment can be interpreted as an attempt to change the bank’s credit conditions to ease the responsibilities involved in bad credit borrowers. How can add credit facility, to convert the outstanding principal arrears to the new, to scheduling and return requirements?
With the realignment, the bank could even reduce the interest charged to borrowers. It is the intention that at least the customer is able to pay off debts to the bank anyway. Even if the debtor has been a very critical condition to be unable to escape from bad loans, banks can offer borrowers the option to the interest exemption. Thus, the debtor sufficient to pay the principal amount remaining.
The thing to remember, the name of the debtor will be immediately recorded in the Debtor Information System (SID) Bank as soon as the restructuring of loans from the bank. The Notes will be difficult for you to apply for a loan at a later date because your name has been listed as a party that never has bad credit. Therefore, you should avoid bad loans with fixed firmly adhere to the principles of lending and diligently make payments as agreed.