In 2018, the total debt of Russians to banks and other creditors amounted to 16 trillion rubles. On average, this is 191 thousand per family. This in itself is neither bad nor good. The problem is this:
- Most of the debts are expensive short-term consumer loans..
- A third of debtors assume that in case of insolvency or problems you can not give money.
- A quarter of people admit that they sign papers when applying for a loan, even if they do not fully understand the conditions.
People in Russia still do not know how to live on loan and are therefore in a difficult position.
How to borrow money
A loan is a financial instrument, the effect and outcome of which depends on how you use it. A person with a sound financial plan always makes payments on time, so he does not get fines, forfeits and penalties. Here, the loan works as it should: it gives opportunities for the price for which the borrower is ready.
Therefore, to properly borrow money you need:
1. Draw up a financial plan
A financial plan is the foundation of well-being. It works regardless of income level, because it helps to understand:
- How much money you earn every month, and how much you spend.
- Which cost items are required and which can be eliminated.
- What credit load are you ready for.
Example. Makar designer on a remote site. His laptop is outdated and does not cope with work. Makar looks into his financial plan and sees that he can pay 6,000 rubles on a loan every month. He’s buying a new MacBook. With him, he makes orders faster. Makar earns more per month.
Keep a plan in notepad, Excel or smartphone – in a special application.
2. Set goals
They must be specific – with exact numbers and dates. Vague wording will only hinder.
Example. Makar decided not to take credit for a new laptop, but to save. His goal is 120,000 rubles by January 1 of next year. This is a specific goal. It is easy to track, control and adjust. The goal of “save up for a new laptop by next year” is not concrete.
3. Balance assets and liabilities
Assets – this is what brings you money (salary, bank deposit). Liabilities – what takes them away (loans). In a sound budget, assets bring more than liabilities take. Here you need to ask yourself:
- Are all my expenses necessary??
- What can you save on?
- Are there any spontaneous purchases?
- How can I increase return on assets?
- How can I reduce the cost of liabilities?
Some liabilities are not obvious because they do not increase costs directly. For example, money under the pillow is a liability. Under the influence of inflation, they become cheaper. It would be better to keep them in a bank or invest.
Example. Makar bought or borrowed a new MacBook. An old computer is idle. It can be sold and offset. But Makar does not. He got a passive, because the computer is gradually becoming cheaper and outdated. In a few years it will not be possible to work or sell on it.
4. Match opportunities with goals
When you figured out the budget and set goals – see how realistic it is to fulfill them. If you have only 5? 000 rubles free per month, you should not take a car loan of 500 thousand for 3 years. Money will not be enough for monthly repayment.
If you do not succeed in comparing goals and opportunities, you need to refuse a loan. You have to learn how to live without loans, save and save on purchases yourself.
How to borrow money from a bank
Be sure to read the loan agreement before signing it. Find out all the incomprehensible and controversial points. Do not hurry. By law, you have at least five working days to study the conditions. Take the contract home and reassign the meeting with a bank consultant.
You must know for sure:
- Loan amount or credit limit for credit cards.
- Duration of the contract, loan repayment period.
- Loan rate in percent per annum. In addition, on the first page of the agreement in large print at the top should be indicated CPM (full cost of the loan).
- Amount, size and terms of payments under the agreement (payment schedule).
- Credit repayment methods, including at least one free loan (the borrower has the right to make payments without commission).
- What penalties, fines, penalties are charged – what is their size.
how borrow money on receipt
A receipt is a document. He confirms that one person lent another on specific terms. Even if you take a large amount from a relative or friend, make a receipt. For both sides, this is the foundation. In case of disagreement, they will be based on it in court. When there is a receipt, the testimony of witnesses is valid. No without her.
The receipt is written by the borrower. This eliminates the falsification of the document. For reliability, invite witnesses. But they do not bear any responsibility for the transaction.
Before borrowing from a private person, do this:
- Match loan to financial plan.
- Agree on the terms of the debt, repayment procedure.
- Write a receipt and check the conditions.
- When you have repaid your debt, ask for a receipt that the conditions are met and the creditor has no complaints against you.
How to borrow money without a receipt
It’s better not to. Loans without a receipt do not have legal force. In such a situation, the lender may abuse the position. Threaten, change conditions, charge extra interest. Defending the law will be difficult.
The receipt is beneficial to everyone. It guarantees that you have taken a specific amount, for a certain period and with exact conditions. And if there are problems, it will help to solve them according to the law..
Sample receipt
How to repay debt
The general rule is simple – you have to pay the repayment schedule. Avoid delays – lenders charge fines and commissions for them. Re-read the contract (or receipt) periodically so as not to forget about the conditions.
When you have fully settled with the creditor, ask him for a certificate of closure of the contract or account. This applies to both banks and private traders..
What are the consequences if you do not close your bank account:
- A small underpayment (even a few cents). The loan will be unpaid – fines, penalties, account maintenance fees are charged on it.
- A small overpayment (even a few cents). The creditor cannot close the account, continues to service it and charges a fee.
In both cases, the debt grows, and the borrower is unaware of this and after a few months receives a request from the bank to pay off the debt.
If the loan is issued with a guarantee, then the borrower and the surety must receive a certificate from the bank on the termination of the contract.
What to do if you can’t give a loan and problems begin
Do not be afraid of collectors
If it comes to collecting debts through collection services, do not panic. The work of such companies is regulated by law No. 230-FZ. To know how to communicate with collectors legally, use instruction from the Public Popular Front.
Restructure and refinance
Restructuring – this is when the current lender meets the borrower and changes the terms of the loan. So you can increase the period, reduce the monthly payment and achieve other changes.
Example. Danila took a car on credit for 500? 000 rubles. A year later, he lost his job and got a less paid job. He wrote a statement to the bank, explained his situation. Bank agreed to reduce payment by 15%.
Refinancing is when a borrower takes a new loan from another bank to pay off the old one. The benefit is obtained by reducing the percentage. Read more about refinancing here.
Bankruptcy (last resort)
A natural person is declared bankrupt under the supervision of a financial manager. His services are expensive. The minimum established by law 127-FZ is 25 thousand rubles. In fact, the market requires 100 thousand and more. In addition, managers take a percentage of the sale of property.
Bankrupt status is maintained for 5 years. Many disadvantages, for example, you can not be an entrepreneur or hold leadership positions.
Who can initiate bankruptcy:
- Debtor. If you can not repay the debt or the delay has exceeded 90 days.
- Lender or authorized body (FTS). If the delay is more than 90 days or the amount of debt exceeded 500? 000 rubles.
Bankruptcy decision is made by the court. First, he checks whether debt can be restructured. If so, draws up a repayment plan. If not, the person is declared bankrupt with the sale of property. There is property that cannot be arrested and sold:
- The only housing of the borrower and his family, as well as the site on which it is located.
- Housewares and home furnishings, individual use (except luxury goods and jewelry).
- Property necessary for professional activities (except for items more than 100 minimum wages).
- Livestock, birds, seeds, if they are not used for business.
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