Foreclosure Comes In The Second Installment When You Don’t Pay The Loan Installments



If credit or credit card debt installments are not paid, banks have the opportunity to make various sanctions and take legal action.

However, consumers have various rights regarding their debts in case unexpected situations can occur in everyone’s life. In this context, it will be useful to obtain information about the process that will develop if the credit or credit card debt is not paid.

When is Credit Debt Transferred to a Lawyer

When is Credit Debt Transferred to a Lawyer

The regulation in which the financial responsibilities related to credit or credit cards and the sanctions that must be tolerated if these responsibilities are not fulfilled is the Consumer Loan Agreement Regulation.

For this reason, it may be beneficial for the consumers to read the regulation in order to control what stages they will encounter and whether this is legal.

According to the regulation, it is possible to transfer the debts that have passed 90 days after submission to the lawyer. This means that 2 installment payments have passed and it is possible for the bank to transfer the debt to the lawyer and file a lawsuit to allocate it entirely due to the third installment maturity.

Is Bank Lien Foreclosed Due To Credit Debt?

Foreclosures can be applied to salary accounts or bank accounts of consumers who do not pay their credit or credit card debt. The transaction in question must be limited to 25% due to consumer rights. In this context, the consumer, who knows that 25% of his salary may be foreclosed, is obliged to inform him which salary account is necessary.

Is The Home Foreclosure Due To Credit Debt?

Is The Home Foreclosure Due To Credit Debt?

If the credit or credit card debt is not paid, foreclosure can be initiated upon the application of the bank. As a result of the said transaction, foreclosures can be applied to all kinds of goods, property and real estate registered in the name of the consumer.

The only exception is the armchair, ban, fridge, dishwasher, washing machine, etc., which are used to sustain everyday life. are the goods. Apart from this, all kinds of valuable documents, antiques, etc. will not affect the continuation of daily life. attachable.

Will Foreclosures Come to the Home of Those Who Live with Her Family?

Foreclosures related to the goods or assets registered in their name for the borrowers living with their family may be imposed. However, it is not possible to apply foreclosures on the possessions or assets of the family.

If a guarantor has been previously granted about credit or credit card debt, it is possible for the guarantor to be foreclosed.

In Which Installment Foreclosure Income?

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As can be understood from above, the bank has the right to take legal action in accordance with the regulation, in order to not make the third installment payment. However, foreclosure usually does not take place immediately, as it reduces the costs of attorneys and the way of the agreement will result in more reasonable results. In the second installment, foreclosure comes when you don’t pay credit installments.

However, it should be remembered that from the third installment, foreclosure can be applied based on legal rights, but whether it will be applied immediately or after a while, is entirely at the discretion of the bank.

Borrowers may request that their debt be structured through an agreement within the said 3-month period. In this way, it is possible to pay in lower installments with longer terms. You can reach our Timeout section of Debts Transferred to Asset Management, which is also a related issue, here.

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