Many borrowers periodically face difficulties in repaying their loans. According to statistics, approximately one-third of all lending cases involve outstanding debts.
Each borrower chooses their own way of resolving these issues. Among the most popular are:
- borrowing from family or friends to repay the debt;
- taking out a loan from another bank or a microfinance organisation;
- ignoring demands to repay debts.
If you are facing a similar problem and do not know how to resolve the situation, the best solution would be to restructure your loan debt.
Causes of the problem
In the vast majority of cases, arrears on loan obligations arise for the following reasons:
- a fall in borrowers’ income;
- inability to cope with the financial burden of making repayments;
- loss of employment as the main source of income;
- financial shortfalls due to inflation;
- inability to allocate funds wisely.
How is loan debt restructuring carried out?
The following set of restructuring measures is currently available:
- extension to a new term;
- adjustment of the repayment schedule;
- payment holidays.
It is important to understand that only professional lawyers with experience in this type of work can guarantee the success of a debt restructuring case.
Loan restructuring with Svarog
The firm’s lawyers take responsibility for the entire loan restructuring process. The services provided include:
- comprehensive advice;
- legal due diligence on the client and the creditor;
- development of acceptable debt restructuring options;
- representation of clients’ interests and correspondence with the bank;
- Support with the documentation for the restructuring.
Expert assistance from Svarog
Restructuring loan debt with the help of Svarog’s specialists provides a competent and swift solution to the problem in the client’s best interests.
Key benefits of consulting Svarog’s lawyers include:
- each case is considered on an individual basis;
- in-depth analysis of the situation;
- clear advice and support throughout the process;
- payment for services only if the case is successful.
Svarog’s specialists know exactly how to approach the issue of loan debt restructuring, so you can always be 100% confident in the outcome.