Very often, when we enter the so-called adult age, we are forced to take a loan. For some it is a temporary solution that will stabilize the household budget, for others it is the only way to own a flat. Credit installments are often quite high amounts that have to be repaid on time.

While in the case of small loans with a short repayment period, we are able to predict our financial future, when it comes to housing loans, often extended for several dozen years, it is hard to be sure of our future. What to do if we are unable to pay back the next loan installments?

How to get out of trouble?

How to get out of trouble?

The most important is dialogue with the bank. There is nothing to pretend that the problem does not exist. We should remember that the bank also wants us to pay our debts, which is why we are able to work out an appropriate solution to the problem with it. Let’s report to the bank and let him know about our problems.

Cases of this type are considered individually and there is no single path. Most often, we can expect a proposal to suspend the repayment of installments for a few months, which will allow us to light financial reflection. Another option that is often used is to extend the repayment period so that we can pay off the lower loan installments. You should always talk to the bank, this is the only way to a sensible solution to the problem.

What else?


If we do not inform the bank about our problems and we do not pay the installment, then first of all the bank will start charging penalty interest from the first day of delay. The next step is to contact us to clarify the situation. There are prompts, a phone contact, information displayed on our bank account (when trying to access the Internet).

The last step is the termination of the contract by the bank, which results in the recovery process. This is the worst possible solution, which is why dialogue with the bank is so important. Inability to pay your debts is an extremely uncomfortable situation, but we must resolve it in the best possible way.