Banks explained the reasons for the refusal of Russians to ease credit conditions

Banks may refuse to soften credit conditions for clients if their life situation does not meet certain criteria. Denis Kuznetsov, Director of Sberbank's Retail Recovery and Settlement division, told Izvestia about this.

Earlier, Izvestia wrote that banks began to massively refuse to restructure loans to Russians, while the demand for this service increased.

According to Kuznetsov, the increase in settlement requests is caused by various circumstances. Among them, he noted, the decline in family income is leading for various reasons: loss of a job or part-time job, delayed wages, illness of the borrower or his family members.

"The reasons for refusing credit holidays may be related to customers' failure to comply with the clear conditions specified in the law. For example, the criterion of a 30% reduction in the client's income is not met," he explained.

Kuznetsov added that if a client receives a waiver on credit holidays, he has the right to apply for restructuring under the bank's program. It is important that the situation meets the conditions for obtaining this type of debt settlement.

"Most often, if the client has not provided confirmation of a decrease in income or a difficult life situation, he may receive a refusal. But the message from the bank will indicate what needs to be done next," said a representative of Sberbank.

According to him, credit organizations explain which document to provide or whether it is possible to introduce an additional guarantee for the loan. If the refusal is related to the creditworthiness of the client, he will receive an offer to use the comprehensive debt resolution program.

"It helps people with existing loans from different banks who are in a difficult financial situation to receive support for all types of loans, and without restrictions on the amount and regions of issue. The borrower may be offered a reduction in the amount of the monthly payment, a postponement or an extension of the loan term," Kuznetsov said.

At the same time, Postbank added that the growth in the number of applications for credit holidays is influenced by the macroeconomic situation, including high loan rates and high monthly payments, which are difficult to service.

"The main reasons why banks refuse to apply for credit holidays are restrictions under Federal Law No. 353—FZ, such as exceeding the threshold for the credit limit, the inability to confirm a decrease in income and previously used credit holidays," the credit institution explained.

Deviation of the norm: banks massively refuse to ease credit conditions for Russians

What is the reason for the increased demand for restructuring and why borrowers are not being met?

Earlier, on July 25, Vladimir Milovidov, Deputy Director for Science at IMEMO RAS, member of the Board of the Russian Academy of Sciences, Doctor of Economics, said that the high key interest rate makes consumer loans and mortgages virtually inaccessible to most citizens. In these conditions, the population prefers to save money for deposits rather than invest or take out loans. This reduces final demand and slows down economic growth.

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