Financial institutions do not provide ample opportunity to intervene in the content of credit agreements already concluded, and most of the changes require additional fees. So what can be changed and how much will it cost?
The first group of records of loan agreements which may be subject to modification formal data. Any change in personal data or address / check is not a privilege, obligation that must be met within a specified period from the date of the change, that is, for example. Replacement ID card, or a change of residence. Part of the loan agreements also require immediately inform the lender about changing jobs. This type of clause is included, however, most often in the case of contracts of loans, or mortgages. It is worth noting here that the failure to send the relevant information may result in serious legal and financial consequences.
indicators of credit
The loan agreements may be subject to change as some of the indicators of the loan. This may be so, eg. The negotiated reduction in interest rates, but more often refer to this type of modification of the repayment period of the loan. We can distinguish here:
a) the extension of credit,
b) to defer the payment of installments (s)
c) suspend the period of repayment of all or part installment (s) under the credit holidays.
It is worth noting that each of the above changes will be required to agree to the change by the lender.
For far less frequent modification we can fall at the same time changing the security for the loan, or changing credit conditions, associated with participation in the specific promotion - eg. Use of the additional insurance palette may temporarily or permanently affect the amount of interest charged on capital.
The costs of changes
In the vast majority of credit agreements only free form of modification of their content is changing the formal data. Hence - for changing loan collateral, the repayment period, as well as virtually any other kitchen you will have to pay. The costs here are different, because, for example. Use the option of credit holidays may be available from 10 zł, and for the postponement of payment specified number of installments can pay 3% of the outstanding capital, and dozens of gold for the preparation of an appropriate addendum amending the terms of the agreement.
It is worth noting here that there are situations in which the most preferred solution is to change the entire credit agreement, or use the option of consolidating multiple commitments into one, or refinance a particular loan. It is possible, eg. Through available in Health Stefczyka "Decent Comments" loan consolidation, which loan period is 10 years.