It is no coincidence that many, even through their own fault, are included in the CHR Schedule of Negative Debtors, since even if the debt is settled in full, the debtor will remain on the passive CHR list for at least one year as a “former” negative debtor.
Credit you may be eligible for under the credit assessment
After one year, the CHR system clears the negative rating and, again, hassle-free access to any credit you may be eligible for under the credit assessment. However, if you have a problem with your credit, even if you are not lagging behind, but your prospects are not very bright, you may want to look into the market. Why? Since the conversion of foreign currency-denominated loans into forint and the termination of their disbursement, banks’ debt settlement loan schemes have been booming. This is because, despite the clearing by the FX Act of 2014, and the possibility of conversion into forints in 2015, it is not uncommon for debt to be borrowed after 8 to 10 years as it was many years ago. . This is especially true for clients who have taken on a scheme where they set a limit on monthly fees due to exchange rate fluctuations, which the borrower did not have to pay monthly. So, for example, the debtor asked you not to pay more than 40,000 forints per month. Until now, it was fine, but many ignored or didn’t realize the risk that if the CHF escaped, the installment would increase to $ 60,000, the difference of $ 20,000 would not disappear. It was accumulated by debtors on a separate account as interest. And when the loan was overdue, that is the capital, it was agreed to pay this accrued interest on a monthly or monthly basis.
Your financial institution has a choice between accruing extra interest on the accrued interest over the term or just collecting the difference. Such terrible constructions do not exist anymore, we just wanted to illustrate as a deterrent why it is important for us to commit ourselves for up to 10-20 years.
Returning to debt settlement loans,
We would emphasize that preventing trouble is always more rewarding than getting out of it in some way. Of course, life is not about worrying about us all the time, and that is not really our goal. Our goal is to try to identify problems in a timely manner and find solutions with due care. In the case of old credit facilities concluded before 2010, it is almost certainly possible to find a more favorable loan. Laws, regulations regulate how many months the maximum maturity can be, for example. Some could pay lower monthly fees over a longer period of time, but the bank can no longer extend their contract. However, this can be a solution to the problem, as the existing old contract will be closed and a new one will be concluded, so the term will start again. Typically, interest rates are also more favorable, which can be another positive for us.
Able to redeem a loan
However, we will only be able to redeem a loan if we are not already on the active CHR list. The passive list is no longer necessarily an excuse for many types of loans, but if you want to get a debt settlement loan, you can’t be on the active or passive list, or even have a backlog that hasn’t even made you into the CHR negative list. Which is understandable, since no financial institution would be in a hurry to get a client who is already ahead of the contract.
Even if we are offered very favorable terms instead of our old credit, try to think cautiously so as not to overlook our enthusiasm for some seemingly small details, such as the 2% APR lasting only 5 months, after which it will be the same as our current credit. Of course, if we need this kind of temporary relief this is not necessarily a bad deal, the important thing is always whether we know exactly what we are getting into.