Deferred payment - what is it: definition of the term in simple words

The borrower, in addition to the loan, receives certain financial obligations that cover a certain period of time. Often, life circumstances change, clients’ solvency deteriorates, which leads to the impossibility of fulfilling loan obligations. Deferment of the loan allows you to resolve the problem with the bank without bringing the matter to court and imposing penalties. When concluding an agreement with a bank, it is recommended to clarify in advance what a deferred loan payment is and whether it is provided for under the terms of the agreement.

Thanks to Law No. 127-FZ, adopted in 2014, the government has resolved many ambiguities regarding the issue of loan defaults. The bankruptcy law covers issues of bankruptcy of individuals, the procedure for writing off debt, and the alienation of property to pay off debts. In addition, federal legislation determined the rules for revising the terms of the loan, restructuring and obtaining certain support from the bank and the state when paying off the debt.

In circumstances of deteriorating financial situation, the borrower is not recommended to hide from the lender. It is in the interests of the client himself to promptly notify the bank of changes in the situation and work out a compromise solution for further servicing of the loan.

Under what circumstances is a deferment granted?

You can rely on deferred payment if the following circumstances arise:

If you lose a permanent source of income. It is important for the lender to indicate the reason for leaving a job (for example, layoff). The main thing is that the borrower’s fault is not recorded.
A disease that requires long-term treatment and large financial costs.
Loss of a breadwinner, if the borrower is supported by him.
Due to a change of permanent residence.
Loss of residence as a result of natural disasters.
Due to going on maternity leave.

There are a number of circumstances when a bank is ready to provide its clients with a deferment on payments.
Each banking organization checks the borrower’s CI and determines its reliability.
If the client previously complied with and properly fulfilled his loan obligations, the most advantageous offers can be developed for him.

Free legal consultation: For any questions

Example: I took out loans from a microfinance organization to renovate an apartment and treat an illness. I realized late that these were unaffordable loans for me.

We recommend reading: Place of management of a foreign organization for calculating VAT

They call and threaten with various methods of influence. What should I do? Moscow St. Petersburg By clicking the SEND button, you accept the terms and conditions Send Send

Moscow Government

Ministry of Justice of the Russian Federation

Rospotrebnadzor Latest questions Full comprehensive service From the moment you contact us until the issue is completely resolved, we are ready to accompany our clients, providing them with the necessary services and advice. Free detailed analysis of the situation Our specialists will study your situation in detail, review all available documents, and draw up a clear picture of the problem.

Working for results We are interested in the success of your business! Your victories are our victories. We are exclusively results-oriented.

Drawing up documents If necessary, the lawyers of our company will take upon themselves the preparation of all the necessary documents for a positive resolution of the case. Free study of options Only after a detailed analysis of the available documents and immersion in the current situation will we be able to work out solutions and the feasibility of their use. Submitting documents We take care of everything.

Compilation. Collection of the necessary package of documents. Submission to the authorities. Tracking. Control of every movement of the case. There is always a possibility that the client does not need to go to court or draw up a claim and other documents, since there is no prospect of winning and the client will waste time and money, or worse, worsen his situation.

This is why our company’s lawyers first do a free analysis of the situation, study the available documents, and only after that offer solutions, if any.

Why do they trust us? Quality of service For more than 10 years, our company has been providing free legal advice in various areas of civil law. Speed Professionals in their field will advise you within 5 minutes. And you will know everything about solving your situation.

Knowledge Each client's case is transferred to the appropriate legal department, where it is analyzed by at least 3 specialists, including a senior lawyer. Confidentiality In accordance with the Federal Law of the Russian Federation of July 27, 2006 N 152 “On Personal Data”, we guarantee complete confidentiality of all consultations. Savings Thanks to our extensive experience in the field of civil law, we can confidently say what to do in various situations.

Minimum actions for maximum results. Ease When contacting us, clients forget about their problem. Entrust your care to us, professionals in our field.

Get a free consultation right now!

Moscow St. Petersburg By clicking the SEND button, you accept the terms Send Send Our lawyers and attorneys will help you “Every problem can be solved through the means of the law. There's nothing complicated about it. The only thing that is difficult is knowing these laws.” Astafiev Valery Semenovich leading specialist of the Legal Bureau

Proskuryakov Mikhail Lawyer

Karpova Elena Lawyer

PilchevskyYuri Advocate

SazonovaNatalia Lawyer

Types of deferments

Deferment of payment is a procedure for freezing payments on an existing loan, or reducing the monthly payment with a subsequent extension of the payment period. There are several types of deferment:

Changing the duration of the contract with subsequent extension.
Adjustment of the current terms of the loan agreement, restructuring.
Changing individual items in the current lending program on more favorable terms - refinancing.

The general term “deferment” hides several types of services.
If a client has temporary difficulties with repaying a loan, the most popular method of resolving the situation is deferment of payment.
If payments are completely temporarily suspended, the client will have time to find a new job or another solution to financial difficulties.

Trade Law and Deferred Payment to Food Suppliers

It is important to know about current changes in the Trade Law, which affected issues with deferred payment to suppliers for food products.

Due to recent amendments, all aspects of the contract for the supply of food products are established by their expiration date. In the event that this period does not exceed 10 days, the deferment period is assigned no more than 10 working days from the date of acceptance of the goods by the buyer. If the storage period is from 10 to 30 days, then the deferment of payment to the supplier is a maximum of 30 days (according to the calendar) from the date of receipt of the goods. When the product is good for more than 30 days, the buyer must pay for such products no later than 45 calendar days from the date of receipt.

Changing repayment terms

The main goal of the program is to provide a deferment in payment of the main body of the loan. The client may not pay the principal amount, but the interest rate continues to apply. As a result, the total cost of the loan will automatically increase. As a rule, the bank agrees to provide a deferment for up to six months.

There are several types of loan repayment holidays:

exemption from payment of the principal amount of the debt;
suspension of interest accrual;
complete exemption from payments for a certain period.

You need to know what options exist in order to know what to talk about with a banking specialist.
The third method is the least common, since it is not beneficial for the banking structure.

Deferred payment as a marketing tool

Deferred payment is an effective tool for increasing sales. A potential client is attracted by the prospect of getting the right thing now and starting to use it, and paying the missing amount later. This scheme has found wide application in stores where expensive goods are presented: cars, household appliances, fur products.

In the B2B sector, deferment helps companies find new clients and customers. Among two offers at the same price, the buying company will choose the option for which payment can be made later. This corresponds to the rule of doing business: money now is always more valuable than money later.

Payment restructuring

If the borrower's financial situation worsens, restructuring is another way to resolve the situation. To do this, the client must submit a written application to the organization’s branch with a request to change the current conditions for loan repayment, indicating objective reasons.

If the creditor agrees to provide a restructuring, he must announce new terms of the agreement followed by re-issuance of the loan agreement. As a rule, changes relate to the amount of the monthly payment in the direction of reduction and prolongation of the contract. As a result, the borrower's financial burden will be reduced, but the loan repayment period will be increased.

Essential terms of the transaction for the purchase and sale of goods with postpayment

The contract is not concluded if the essential terms of the transaction are not agreed upon (clause 1 of Article 432 of the Civil Code of the Russian Federation). For the delivery of goods, such essential provisions are:

Name of product. It should be clear from the contractual obligations of the parties what the supplier supplies to the buyer.
Quantity of commercial products.

The provisions that stipulate the price, delivery and payment terms are not essential, but are very important in the performance of obligations by both parties.

Refinancing program

Most lenders use this program to increase their customer base. The main goal is refinancing on more favorable terms for the borrower. When concluding a new agreement, you can receive the following benefits:

prolongation of the current loan agreement;
reduction in interest rates;
reduction in the amount of payment per month.

The bank independently decides what advantage to give to the client. For regular borrowers who properly fulfill their obligations, individual, more advantageous offers can be developed.

A new agreement is mandatory, where the bank undertakes to repay the existing loan from another organization, and the client will have to repay the loan from the new institution.

The bank independently decides what advantage to give to the client. But the borrower must also understand what a specific offer means for him

Regardless of the type of deferment, the borrower must contact the bank in advance with an explanation of the current situation. If the agreement does not contain a clause on the provision of credit holidays or deferred payment, this means that the bank will consider this issue individually in each case.

When signing a new agreement, from the next month the borrower must comply with the terms of the new agreement. The deferment will help maintain a positive credit rating and qualify for favorable offers on new bank loans in the future.

about the author

Evgeniy Nikitin Higher education majoring in Journalism at Lobachevsky University. For more than 4 years he worked with individuals at NBD Bank and Volga-Credit. Has experience working in newspapers and television in Nizhny Novgorod. She is an analyst of banking products and services. Professional journalist and copywriter in the financial environment [email protected]

Is this article useful? Not really

Help us find out how much this article helped you. If something is missing or the information is not accurate, please report it below in the comments or write to us by email

Comments: 0

Your comment (question) If you have questions about this article, you can tell us. Our team consists of only experienced experts and specialists with specialized education. We will try to help you in this topic:

Author of the article Evgeny Nikitin

Consultant, author Popovich Anna

Financial author Olga Pikhotskaya