The crisis in varying degrees, has hit all residents of Russia. We have gathered the stories of ordinary people, with the most common financial problems. Nothing to pay on debts, it is impossible to take a new loan, not to save money for a rainy day — how do people solve these problems and what to do in such situations. During the week we every day we publish one of the stories with expert advice. Today is about the problem of security officer, mired in debt.
Photo: Fedor Telkov for
Eugene, 37, a security officer
“I live in a suburb of Chelyabinsk with his wife and three children (ten, nine and three years). Working in the security service of private enterprise. For the whole family we make 19 thousand rbl., from them 15 thousand rubles, my salary, another 4 thousand rbl. — the salary of the spouse, she is the Junior kindergarten teacher.
First I took a loan 2014: children need a laptop. I issued a consumer loan at the Bank “home Credit” on 24 thousand roubles, and today We regularly paid — 3200 roubles per month. Still, the family budget has been shattered: the children had to prepare for school, we have not enough money to pay for housing (7 thousand rubles per month). To pay time needed, in order to obtain a subsidy for housing (it is put to us as a large family). The state reimburses the money, but without any clear schedule. And if you miss a payment, you lose the subsidy. I had to take loans “payday” in microfinance organizations.
Loans to MFIs with interest rates of 2% on the day led to the fact that their coverage had to take a new Bank loan. In November 2015 I received a loan under 39% per annum in other Bank — BANK. Debts to MFIs I had paid, but now owe the Bank 95 thousand rubles In the end have to pay for two loans. On it monthly out of 6.5 thousand rubles.
Until extinguished the loans, I have accumulated debt for utilities. From 1 January it launched a new system of charging fines and penalties for late payments, so to cover the debt in 30 thousand rubles., I’m going to issue another credit in Tinkoff Bank. Thinking of taking 50 thousand rbl. at 45% per annum: pay the debt for utilities and the laptop. I figured then the total payment on loans in the two banks will be reduced to 5 thousand rubles”.
Hope Podkorytov, the financial expert of the company “ALOR Broker”
“The biggest mistake of Eugene that it did not calculate the consequences, when they took the loan. Loan makes sense to take, if the monthly payment does not exceed 25% of total family income. In the case of Eugene to pay took just a quarter of his income after deduction of utility payments. But at some point he had a “cash gap” — from the preparation of children for school. And then Eugene made a second mistake — turned to microfinance organizations. The stakes are very high, so there’s no repayment holidays if the customer has problems. And because of the high rates the amount of debt in case of default is growing rapidly.
The best solution for Eugene would be to go to the Bank, where he received the first loan, and ask to restructure the debt. As a rule, the Bank is interested in it. Eugene could agree on reducing monthly payments or lowering the interest rate. Then he, perhaps, would not have to perekreditovanija.
What to do? Generally chronic loans to pay off old debts is the path to personal bankruptcy. So you need to make every effort to pay off all. Obvious ways: to look for a part time job, cut expenses, postponed non-critical purchases. Another option is to borrow money from relatives and friends, who unlike the Bank will not charge interest.
If none of these options are not ideal and still have to take out a loan, you need to find a Bank with lower rate. Eugene same every time you take out a loan with a higher rate, which increases debt burden and is a kind of financial pyramid. You should look for loans in state banks — where the rate may be lower or the Bank may take account of social factors (number of children of the family, grants, etc.). After receiving the loan should try to negotiate with the Bank on installment.
The newly enacted law on personal bankruptcy will not help. To do this, Eugene shall be the duty of at least 500 thousand rubles or needs to bankrupt one of the banks”.
Already published stories:
Bad apartment: what to do if the family need a mortgage?