The fact that car loan debts cannot be paid is undoubtedly one of the situations that everyone would like to avoid. However, unfortunately, sometimes sad situations can be faced.
We have prepared an informative content for our readers about what they can do in such situations.
According to the article in the regulation, if the installment is not paid at least twice in a row, the borrower is given another 30 days and the loan is requested again within this period.
With the extension of this period to 90 days, the meaning of your credit debt is not paid anymore. Well, you have faced such a situation and you are wondering what to do if those who cannot pay the loan, what to do, how much interest will be applied? The maximum interest rate banks can apply in such a situation is 30%.
You may be saying that I cannot pay my credit debt with this delay interest. In such a case, you can try to negotiate with the bank.
However, you should do this before the delay interest gets in, without coming to the 90-day limit we just mentioned. If you reach this limit, your credit rating will decrease considerably, the initiative will be in the hands of the bank.
You have been in debt and you may be wondering how many years your credit card debt is deleted According to our Enforcement and Bankruptcy Laws, this has been determined as 20 years due to the timeout period.
If you have such a situation, you should follow the amnesty of the records and try to enjoy these rights.
Let us explain this process with an example to answer the question of what happens if the credit card debt is not paid. You have an existing credit card and did not pay your debt for 3 consecutive months. The bank will then hand you over to a law firm. Your debt will now be asked by this office. Next, the enforcement will follow the transaction.
If still not collected, the law firm will return your file to the bank. If your credit debt becomes a lawyer, your file will go around in the hands of different lawyers for 5 years.
Throughout this process, banks try many ways, like blocking your salary. If the structured loan debt is not paid and the specified period has been exceeded, your name will be included in the Good Finance’s blacklist, regardless of which law firm you have your file.
After this stage, you can no longer get credit or apply for a credit card. In such a case, it would be a better alternative for you to configure the debts or pay them in one item.
Therefore, it is important not to come to the time limit. Thus, your name will not be included in the blacklist, you will not be deprived of the transactions you will make from the bank.
In addition to being included in the blacklist of your name, there is also a case of foreclosure of other items, except for housing and daily life items. Another alternative you can take advantage of; to benefit from the debt closing loans given by other banks. These loans process all your debts in one place.
In this type of loan, all procedures in other loans are applied. In other words, you should not leave the precaution without using this loan.
In order to use this credit, you need to have a stable and sufficient income as well as a good credit rating. You can find details in the article above.
We recommend you to read our previous article, How to Get a State Supported SME Loan. You can browse the topics that may be of interest in our SME Loans category.