Exponentials : W​ho they are & Whether you Need Them?

Exponentials : W​ho they are & Whether you Need Them?

Exponentials : W​ho they are & Whether you Need Them?

Loans help not to put off your dreams for later, but to realize them immediately. But sometimes the fulfillment of desires turns into a nightmare: debts crush an unbearable burden. If you repeatedly delay the payment of a loan, collectors are taken up. And along with them, anti-collectors – “lenders” materialize, who offer to take on the problems with your loan. We tell you that it is important to know about them so as not to fall into the trap of ransomware-scammers.

Anti-collectors – they are also “lenders” – are companies or individuals who offer to solve problems with overdue debt. They promise to negotiate with creditors or collectors, provide you with legal support, or even redeem your debt from the bank.

Rule number 1. Evaluate if you need an intermediary
Any “extender” has a commercial interest, they will not work for free. And usually the more your debt, the higher their commission will be. In conditions when you cannot pay bills on time, do you need additional expenses?

You can try to agree on a deferred payment or debt restructuring yourself – directly with your creditors or collectors . They are interested in you returning the debt, and therefore, as a rule, they are ready for dialogue.

If it is not possible to agree, there is no money and is not expected, there is another way out – to declare bankruptcy . This is not always a possible option and always not the most pleasant one: it threatens you with new financial expenses and many restrictions. If the arbitral tribunal accepts your bankruptcy petition, it will appoint between you and those you owe an official intermediary – the financial manager. And you will be sure that this is not a scammer. And there are many scammers among anti-collectors.

Rule number 2. Do not believe promises that debts will disappear

Here are common scam schemes.

Silence fee
Some lawyer suggests you pay him a certain amount, for example 5000 rubles, and the collectors will no longer bother you. All that is required of you is to write a statement that you shift the obligation to communicate with collectors and creditors to it.

What is happening: the collectors really do not call or write to you anymore – they are trying to establish interaction with this lawyer of yours. And he simply does not answer their calls and letters.

Bottom line: while you are in a happy calm, your debt continues to grow due to interest and fines. Sooner or later, the patience of creditors and collectors runs out – and they sue. If the loan agreement was drawn up in accordance with all the rules, the court will definitely decide not in your favor. And then the bailiffs will take up the matter: you will have to repay the debt, even if you need to sell all your property for this.

Small Blood Redemption
Some professional negotiator offers you to pay only a small part of the debt and promises that the rest will be written off. You can even really formalize everything with documents: pay a commission to the “lender” and, with it, conclude an agreement with creditors on the repayment of part of the amount.

But this does not always mean that you do not owe anything more. Most often, after a short time, you again receive notifications about the need to pay the rest of the amount, and fines and penalties continued to grow all this time.

In the worst case, if you entered into an agreement only with the “extender” himself and did not clearly state all his duties there, he simply hides with your money.

Superinvestment for interest repayment
There is a more interesting scheme: the anti-collector offers you to transfer to him a certain amount of money, which he promises to invest in some “very profitable instruments” and to pay off the accumulated interest due to the big profit.

Most often, the “extender” disappears once and for all. But even if it is a real broker who invests your money, say, in the stock market, income is not guaranteed. Quite the contrary: the higher the potential yield of a financial instrument, the greater the risk of losing, not earning. You can learn more about this in the article about investment instruments .

Rule number 3. Check documents and read the contract

Suppose you decide that you still need a lawyer to find out what options you have. It is best to choose a specialist on the recommendation of friends. It is very difficult to independently verify the qualifications, and even more so the honesty of a lawyer. If the potential trustee introduced himself as a lawyer, you can at least ask him to show the lawyer’s certificate, and then find the number of this certificate and the name of the lawyer in the State Register of Lawyers . There is no single register of lawyers at all. In any case, it is worth remembering that all responsibility for the decisions that you made on the advice of a lawyer lies with you, and not with him.

If you decide to entrust the lawyer with interaction with collectors or lenders, the issue should be approached even more carefully. A simple power of attorney to communicate with them is not enough, it is necessary to clearly state in the contract what functions and what responsibility the anti-collector assumes and how it will report to you. Otherwise, he may negotiate with creditors and collectors for years, and fines and penalties will be charged on your debt all this time.

The main task of the “extender” is to achieve restructuring or writing off part of your debt so that the payments become affordable to you. If he agrees that you will pay off only part of the debt, make sure that your loan agreement is terminated. Only in this case you can be sure that you don’t have to do anything else. Otherwise, your lender may again demand a refund.

Companies may come up to you with a proposal to refinance your loans so that monthly payments become less. This is really possible, but it can only be done by credit organizations – banks. Therefore, the first thing to do is check the name of the bank and its license in the Handbook of Financial Market Participants.

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