If a person finds himself in a difficult situation due to a large number of loans and debts, first of all he should stop taking new loans in order not to get further into the debt hole, says Dmitry Kvasha, managing partner of Kvasha and Partners law firm. The next step is debt restructuring. explained He speaks to the Public News Service.
“Many of my company’s clients continue to take out loans and microloans simply to cover existing loans and microloans,” Kvasha said, urging them not to worsen their situation with unpaid debts.
You need to find out which debts take priority, for example, those with the highest interest rates. The lawyer emphasized that if there are no funds for payment, you need to take advantage of credit holidays – a person has such an opportunity by law.
The attorney also suggested refinancing all the loans and grouping them into a single loan with a lower interest rate to make repayment easier.
“If one or the other doesn’t help, you can file for bankruptcy and wipe out all debts. Yes, this will be an unpleasant mark on your credit history, but at least you will be able to live peacefully and work officially without fear that bailiffs will take away everything you have earned,” Kvasha concluded.
Let us remind you that in 2023 the Russians has taken loans amounting to almost 35 trillion rubles – this is a record in the entire history of observation.
Russian President Vladimir Putin previously signed self-prohibition law on loans and loans.
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Source: Gazeta
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