Restructuring of credit debt

Agreeing with the content of the loan agreement, the borrower undertakes to return the money received with interest within the agreed period. If there is a delay, you can arrange debt restructuring. This will allow you to maintain a positive credit history and avoid being blacklisted by debtors.

What is debt restructuring?

If there is a delay on an active loan, the amount of debt is recalculated at an increased interest rate and increases sharply. In such a situation, it is difficult to cope with the debt burden, especially if you get sick, lose your job or face another serious problem.

When there is no money and it's time to pay the bills, really want to close eyes to all the problems and let the situation take its course. But if you succumb to temptation, debts will accumulate in a "snowball", the credit history will deteriorate.

In order not to accumulate debts, the best option is to request debt restructuring. This is a service that Finnish banks and credit companies offer to their customers as a "lifeline".

Restructuring means that:

- accrual of interest and penalties on the loan will be stopped;
- the lender will "freeze" the amount of debt and divide it into equal payments that need to be made according to the schedule.

If a bona fide client experiences temporary difficulties and will not be able to make payments on time, many credit companies are ready to revise the procedure and schedule of settlement under the current agreement.

It is possible to arrange a loan restructuring with many credit companies. Everything takes place online from anywhere in Finland: there is no need to go to the office, collect a package of documents, apply for a contract change. All you need to do is contact the lender and follow further instructions.

To activate the service and pay the debt in a comfortable mode, just follow the prompts:

- Choose the optimal number of payments. At this stage, it is very important to calculate your financial capabilities correctly: soberly assess whether it will be possible to make payments according to the selected schedule.
- Sign an additional agreement.
- Make the first payment.
- Follow the schedule, making payments in full and on time — and soon you will completely get rid of the debt.

Restructuring an overdue loan is a real chance to avoid unpleasant consequences.