Professional Code
In practice it is often faced with the question: ” and if I can not pay the loan, what I get for this?” But in order to correctly and fully answer this question – you need to know the following points: 1. Target credit or not. 2. Amount credit and outstanding balance. 3. Whether the property is mortgaged to the bank. 4. Is there anyway to any property from the borrower. 5. Whether there is sureties. And only after you get the answers to the questions above – you can already give professional advice has addressed to you man. But there are also common to all “happy” owners of credit conditions and the consequences – the existence of a debt and is not responsible for its return. What are the consequences of not paying the loan?
The first duty of the debtor to remind employees of the bank through telephone calls. In this way, the debtor’s worried about a month. Further, such a citizen may be deported notice of the need to repay the loan, which give a deadline for repayment of about 10 – 15 days. If this action had no effect, the bank goes to court to terminate the loan agreement and recover debt, interest and penalties. Court on the basis of documents submitted by the bank makes a decision. This procedure will take at least another 2 – 3 months. If a citizen would not appeal the decision of the court, after 10 days it enters into force. And from then on bailiff will execute the decision of the court. Them to this law assigns 2 months. (Adding all these terms, we obtain a period of six months – during which you can manage to fix your finances situation and avoid further unpleasant consequences). Bailiffs can seize your assets: bank accounts in the bank, consumer electronics, luxury goods, a car. Everything will depend on the amount owed to Bank. It’s worth noting that the arrested property will likely appreciate much cheaper than its real value! (The usual practice for the Russian executive production). Subsequently, the property will be arrested sold and the proceeds will send bailiffs to the bank. What else could be expected of a citizen of the debtor.
Perhaps the inspector will make a ban on travel outside the country. Thus you will not be able not only to go on holiday abroad, but and not be able to visit your relatives, living in neighboring countries. If a citizen of the debtor no assets to repay the loan, and this citizen will not take any action on its maturity, the bank will send statement to law enforcement authorities for professional proceedings against the debtor. A professional case can sue on 2 articles of the Professional Code: 159 (cheating) and 177 (malicious evasion of repayment debt – if the amount exceeds 250 000 rubles). To avoid the professional liability can advise to pay debt on the loan even in small amounts. Thus, the actions of the debtor would be absent intent, and it is more difficult to prosecute. In the end, I would like to note that if you decide to take out a bank loan – weigh again all the pros and cons. If it is possible – consult with lawyer. Perhaps it will save from hasty action, and in the future – keep your existing property from seizure and sale. Good luck!
Savings Scenario
It was hoped Spanish families saving capacity drops to 2008 levels, the reasons – repeated until exhaustion, invite reflection. To begin with, the families Spanish saved less in 2010 than in 2011, the VAT rise and the implementation of austerity measures were, along with rising mortgages and rising inflation, the main causes for this scenario. More info: Rob Daley. As it can be seen from the analysis of the variables, savings will continue on downward path, the main reason is the decline of pensions and, while the disposable income of households continues to shrink in the second quarter, the figures speak for themselves: unemployment rate: 21% inflation: 3.6% Euribor 2,093% interest rate: 1.25% the Euribor maintains its upward path and today experiencing a rise of 10 thousandths redials maximums of the two years in a scenario in which – for the first time since the launch of the Euro, Euribor doubles at official rates. Inside the best tips of the present time-saving emphasizes the return of high pay deposits and bank accounts that contemplate all kinds of exemptions, commissions, bonuses, etc. with mortgages 600 euros more expensive thanks to the rise of the euro and the delicate situation in terms of public and private debt that exists in Spain, saving capacity reduction is nothing but a logical consequence of a crisis that forces us to look at the future through other paradigms.
Horacio Pozzo
It does click herein order to acquire the Course. In the last months, we have been present at a recovery in the real estate market. The prices of the houses have raised in July by third consecutive month, the requests of mortgages reached in the month of September their maximum in four months by the fall in the interest rates and the inventory of houses has been reduced. The requests of loans to even buy a house, an advanced indicator of the sales, it has raised in September the greater level from beginnings of January. It pretends but it is not the real thing in the real estate market. The aid that received the buyers (with a credit of US$ 8,000 for a first buyer) that will extend until the month of November, maintain a demand without solid foundations. The weakness of the labor market with a leisure that follows in growth and the persistent problems in the American financial system is elements that anticipate a reversion in the behavior of a real estate demand that will follow suspended.
Part of the problems that exist from the side of the demand in the American real estate market, stays still hidden generating a risk latent of new episodes of crisis. Rob Daley has many thoughts on the issue. According to a report of the banking regulators, more than half of indebted hypothecating with credits renegotiated in first half of the last year, they later observe a delay of at least two months in the payment of its quotas a year. For the next months great losses in the credits do not discard real estate commercial that puts in jams to the American organizations financial, leaving in clearly in addition, that this segment of the real estate sector far is of its recovery. And while the number of houses without selling would have touched bottom, the prices would be on the verge of falling still more, increasing the pressure on the economy again. For the economist Robert Shiller of Yale University, the perspective are still more dark.
Shiller that outside one of that it anticipated the crisis in the American real estate market, foretold that the prices of the houses will delay time in recovering enough. Although the programs of stimulus and the plan of purchase of assets of the EDF have contributed to maintain the prices of the houses, the same, as we would mention previously, will finish in just a short time reason why the market will lose forces. Neither in the sky, nor in hell. The American economy in particular, and the global economy generally, still are in purgatorio, cleaning their faults of a crisis that not yet has finished. Prudence would have more to be the mentioned word in this end of the recession. If they want it to the markets to avoid, from the governments one would be due to implement with concrete measures. In addition, the fragilities and risks that still persist must be monitored close by and having predicted plans of emergencia to respond to possible new episodes of crisis. Will be able to be consolidated the recovery or the excess of optimism will take to new relapses?