What to do with a loan if you were drafted into the army? Will they take you into the army with a mortgage? If a bank borrower goes into the army

Military service is a citizen’s sacred duty to the Motherland. Every person liable for military service is subject to compulsory conscription for military service. However, situations arise when a conscript owes the bank a certain amount on a loan. What should I do? A credit lawyer will help you find the best solution for each specific case. It is important to seek help from a lawyer in a timely manner, avoiding the appearance of debt and the accrual of penalties, otherwise by the time the client returns from the army, he will face a lawsuit to collect the loan debt.

There is no escape from debt under a loan agreement. But there are opportunities to defer payments while serving, repay the loan ahead of schedule, restructure the debt by reducing the amount of monthly payments, and resort to the help of relatives who will repay the loan in the absence of the conscript. Usually, taking into account such a valid reason, banks meet clients halfway and help resolve the issue to mutual satisfaction. A credit lawyer will help you find the best agreement with the bank and protect the client’s interests.
Prompt assistance from a credit lawyer is the key to successfully solving problems with loan debts.

So, we will understand it step by step.

We take out a loan and join the army, what to expect next?

Life goes on, you graduate from school, get a job and begin to dream of your own car, your own home, and so on. Of course, it’s good when your parents can help you fulfill your dreams at first, but if they still can’t, there’s no point in despairing, because all modern people are not afraid to take out bank loans for their needs. And so you come to the bank, safely fill out all the required applications, bring all the necessary documents and receive the desired loan. And suddenly a summons arrives from the military registration and enlistment office. The situation, frankly speaking, is not pleasant. Yes, you actually don’t resist going to serve for the good of your homeland, but what to do with the loan that you have already obtained from the bank?

First of all, we will advise you to contact the services. He will try to help you find a way out of your (specific) situation. But remember that under no circumstances should you delay going to a lawyer, otherwise you risk ending up on the bank’s list of debtors, which means that you will be charged penalties and interest. And by the time you return from the army, you may already be awaiting a summons to court, where they will demand from you an amount that is already significantly greater than what you once borrowed.

Army and credit – is it possible to reach an agreement?

Unfortunately, the debt on your loan will not disappear. But the opportunity to defer payments while you serve in the military still exists. You can, for example, or by temporarily reducing the amount of monthly payments. You can also ask your acquaintances, friends or relatives for help to help you with payments while you repay your debt to your homeland. In this case, your relatives will act as guarantors and will make payments on your loan while you are in the army.

By the way, almost all banks take into account such an important reason as military service. Therefore, almost all of them always compromise with their clients, that is, they take all necessary measures to come to a mutual agreement that will satisfy each party. A credit lawyer will also come in handy: he will help you find the best possible agreement, because his job responsibilities include protecting the interests of his client. True, you will also have to pay a little for his services, but believe me, this is several times less than the penalties that await you in case of late payments and even more so complete non-payment of the debt.

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→ What to do with a loan if you were drafted into the army?

What to do with a loan if you were drafted into the army?

How to pay off a loan if you are drafted into the army?

Military duty is the duty of the male half to fight for his state with arms in hand and bear the burden of military service in the ranks of the armed forces. However, it must be admitted that despite numerous military reforms and other measures to raise the prestige of the army service, conscription into the ranks of recruits, like several years ago, remains not 100% voluntary.

Each conscript may have his own reasons for not wanting to serve in the army. Someone manages to start their own business, someone gets married by the time they are drafted, someone implements a creative project or improves their personal life... And very often young people take out loans to implement their plans and meet current needs.

Looking ahead, we note that military service in Russia is not some kind of force majeure and does not remove civil responsibilities (nor does it deprive of rights). It means that debts will have to be repaid one way or another.

What will happen to the draft loan?

Unfortunately, not every banking institution today, when applying for a loan, checks the borrower to determine whether he served in the army. Moreover, only large financial institutions require a military ID when considering a loan application, and only when it comes to a large loan for a long period - a car loan or mortgage.

For the most part, consumer and other relatively small loans are issued without checking whether the borrower served in the army or whether he still owes debt to the Fatherland.

Such “forgetfulness” of credit department employees often even inspires borrowers who, having received the coveted loan, rejoice like children, believing that they managed to deceive the bank. However, when at a certain moment a military commissar appears on the doorstep with a summons, the borrower begins to worry about the fate of his loan. And he’s doing the right thing, because the very fact of being called up for military service does not exempt him from paying the principal debt and interest on the loan.

If a borrower, putting on an army uniform, simply forgets about his obligations to the bank, then the bank will have every reason to sue him. And the very fact of the trial, regardless of the court’s decision, will seriously and permanently disfigure the credit history of the young borrower. So, when, having returned from the army matured and matured, a guy wants to start a family and, “like all normal people,” take out a mortgage for an apartment, all the banks in the country will simply refuse him.

What if the conscript is unable to pay the loan?

In this case, you need to negotiate with the bank. In order not to put a black mark on your credit history, the borrower who has received a summons must act in a civilized manner.

There is no need to avoid meetings with the lender; moreover, the bank should be aware of the latest news from the borrower’s life.

You need to go to the bank and tell the credit department employees about your general problem. Very often, banks meet their clients halfway and agree to carry out debt restructuring. In this case, the bank reduces the debt burden on the borrower by increasing the loan term. These small payments can be paid by his relatives or friends during the young person’s absence.

Some credit organizations even agree to provide a conscript client with a one-year deferment on loan repayments - the so-called “credit holidays”.

In the Russian Federation, military service is a sacred duty of every man who has reached conscription age. Conscription service in the Russian Armed Forces lasts one year and there are often situations when a citizen, having unclosed loans, goes into the army to do military service. In this case, a natural question arises, what to do with a loan if you are drafted into the army? Although banks check borrowers and their financial capabilities when drawing up a loan agreement, including checking the possibility and likelihood of the borrower completing military service, this is not always the case for all credit organizations. In most cases, banks issue loans to people approaching conscription age only if they have guarantors or other security, but they can enlist in the army after 20 years, up to the age of 27, so the situations may be different.

Military service does not abolish the citizen’s previously assumed responsibilities for loans, and is not a basis for terminating a loan agreement or any default discounts or deferments. Thus, the obligation to repay the loan remains with the borrower, who, due to service for a year, may be deprived of the opportunity to fulfill loan obligations to the bank. What to do in such a situation?

Issues discussed in the material:

• What happens if you don’t pay off your loan while serving in the army?

What to do with a loan if you are drafted to serve in the army

You must understand that the conscript is not alone in any case, he has a family, so the most logical thing in this situation would be to turn to relatives so that they make payments on the loan during this year while the borrower fulfills his duty to the Motherland. If the borrower managed to start a family, he can agree with his wife that during his absence she will repay the loan payments, especially if the loan itself was taken for family needs. With this solution to the issue, no problems arise at all, because anyone can make payments for the borrower; this does not require re-issuance of the contract.

As we have already mentioned, banks issue loans to persons of military age extremely reluctantly and only if there are guarantors. In this case, if there is a guarantor, you can agree with him that the guarantor will temporarily, during the year, make loan payments for the borrower. According to the terms of the loan agreement, the bank will present its demands to the guarantor in the event of no payments to the debt from the borrower. You can issue a receipt with an obligation to return the money paid by the guarantor after returning from the army.

It happens that it was not possible to come to an agreement with any of your relatives and friends, then there is only one option left: contact the bank with documents confirming the change in your conditions, for example, you can submit a copy of the summons and submit an application requesting the restructuring of your debt and deferment, the so-called “credit holidays”.

The most ideal option in a situation where the borrower went into the army for military service would be to provide the bank with a “credit holiday” in relation to the debtor, that is, even if it is possible to agree not for the entire period, but only for a few months, this will be a better solution than increasing the amount of the debt through the accrual of penalties and fines. Such a deferment service is available, for example, at the Bank of Moscow, at Promsvyazbank, at Orient Express Bank, at Post Bank, at VTB, etc.

Talking about what to do with a loan if you are drafted into the army, It should be clearly understood: in the case where the loan was taken out for a relatively small amount, you can consider the option of early repayment, for example, by selling a car or other property to contribute the proceeds to pay off the loan debt before you go to the military registration and enlistment office. If this option is possible, it is better to use it.

What happens if you don’t pay off your loan while serving in the army?

The worst option would be to stop making payments altogether and join the army, forgetting about the existence of the debt for a year. However, in this case, you will accumulate huge amounts of penalties, and with a statement of collection. Since you will not be there, and you will not be able to submit an application to cancel the court order on time, the bank will receive a court order, which has the force of an executive document, and enforcement proceedings will be initiated against you.

Thus, this step only promises to worsen the problem to unimaginable proportions, which will only increase by the time you return from the army, and it will be very difficult to deal with them.

In any case, even if you do not see a way to resolve the issue, you must notify the bank of your forced absence and inability to make payments during the year. A penalty will be charged, but in this case the bank will at least not take collection measures against you for a year.

And after a year, after you return to civilian life, you will be able to resolve the issue of the penalty through the court, since your absence was nevertheless caused by objectively valid reasons.

In any case, a credit lawyer will be able to advise you on the correct course of action in your particular case. To develop the optimal solution, it is necessary to take into account a lot of additional information, namely: what percentage of the loan has already been repaid and what remains to be repaid, what repayment conditions are established in the loan agreement with the bank, what steps you have already taken to resolve the issue with the bank.

Consulting a competent lawyer can help you develop an optimal strategy in order to avoid negative consequences in the form of calls and visits from debt collectors to your relatives. A lawyer will help you arrange for the bank to agree to make concessions regarding your debt in the form of consent to debt restructuring.