Deferment of loans for mobilized Russians: how to obtain, where to apply, how long the deferment is valid

Published by
Peter Kavinsky

You can request a deferment of the loan for the period of mobilization.

A picture: Evgeniya GUSEVA

“But what about credit?!” – potential candidates realized partial mobilization announced by the president Vladimir Putin. The question is urgent. How to pay your debts if you are suddenly enlisted in the military.

Bank of Russia hastened to answer. On the official website it reads: “Citizens mobilized in accordance with the decree of the President of the Russian Federation may apply to their bank or microfinance organization (MFI) for deferral or reduction of their size for all types of loans, including mortgages, and loans for the period of mobilization.”

– Everything is very clear, – says the director of the HSE ISSEK Center for Market Research Georgi Ostapkovich. – The mobilized will be able to be calm at this point. Delays will occur and if necessary due to circumstances a reduction in payments.

But another question arises. But what if the salary in the army will be lower than with which the mobilized citizen applied for the same mortgage?

– In most cases it is excluded, – explains Ostapkovich. – Today the army’s salaries are much higher, even in relation to the leading industries. On average 150-200 thousand rubles. This is more than in the leading oil industry. Plus a social package, social security, fully uniform. Well, maybe there are units that got more in civilian life than in the military. But these are, as a rule, highly qualified specialists, the same IT specialists. These will most likely be reserved as they are more needed in production.

WHAT IS DONE?

The Central Bank recommended banks, MFIs and other professional lenders to meet the needs of mobilized borrowers:

– develop special credit holiday programs and restructure or adapt existing programmes;

– no penalty accrue on the basis of contracts (fines and fines),

– do not impose requirements on early fulfillment of obligations,

– suspend the collection of arrears or mortgages,

– do not evict from a mortgaged home that was previously foreclosed;

– do not regard these restructurings as a deterioration of the borrower’s credit history.

In the future, such special credit holidays may be legislated.

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Peter Kavinsky

Peter Kavinsky is the Executive Editor at cablefreetv.org

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