How To Pay Less On Credits

Let’s assume you have a credit. You are quite able to pay it but it would be desirable to reduce payment. Believe it is quite real!

One of options is a prolongation or restructuring of your credit.

It is option when the commercial credit institute grants the borrower the preferential term or delay in payment of a body of the credit or rate. Such measure allows to distribute credit loading and to lower the amount of regular payment.

Such measure increases originally stipulated payment due date and can be applied only in case of lack of overdue payments.

The second option is an interest rate reduction on your loan. Such type also belongs to restructuring of the loan, thereby improves the borrower’s provision a little.

The third option is to take other more profitable credit with which to pay off a debt on the previous. The matter is that in case of a taking a new credit there is a grace period and you can quite use it. Besides, it will have a smaller loan interest rate or smaller additional payments. This option in case of mortgage debts is especially profitable.

The fourth option – payment of the amount of a principal debt, but not percent and penalties. However, it is worth noticing that without preliminary coordination with bank, you, in fact, pay percent and penalties, but not a body of the credit. Subsequently, it can lead to legal claims of bank which in turn recognizes such method of settlement illegal.

The fifth option is removal of property from pledge. In process of loan repayment it is possible gradually to remove valuable property from pledge. But, it will be possible only if it a dividend.

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