Disputes with banks

The element of builders – construction, doctors-diseases, but financial services-the fiefdom of banks, in which they feel like a fish in water, dictate on the rights of the strong side  their conditions to customers, rigidly and skillfully work with debtors.

Can I win a dispute with the bank?

Can I add the necessary conditions to the agreement with the bank and cancel the unfavorable ones?

It is difficult to do this alone. But if you come for help of those who have been on the “other side” for more than 15 years, who know the weak points in bank contracts, because they themselves once prepared them, the result may be completely different. Even just coming to negotiations with such a person can make the bank more compliant, because the bank is now “opposed” not just by the client, but by the client who perfectly understands the banking specifics.

In conditions of a shortage of liquidity, banks may delay the satisfaction of your requests for financing, covenants “sewn” into loan agreements ковенантыmay interfere with full operation, the loan has long been repaid, and penalties continue to accrue, banks violate the settlement procedure, and unilaterally introduce “bonded” conditions for RKO (РКО).

With all this, we will be happy to work together with you and in your interests:

• we will advise you on what to do if you don’t have enough resources to repay the loan (restructuring, credit holidays, refinancing).
• we will help you prepare documents for challenging bonded interest;
• let’s understand the subtleties of currency control;
• we will help you structure your funded transaction correctly.

We are not omnipotent. And if you are late on the loan, it is almost impossible to completely release you from paying off the debt. But here we can “work” with penalties, delay foreclosure on mortgaged property as much as possible or withdraw seized collateral (real estate) from arrest, challenge the notarized inscription on the recovery of a loan-all this and much more.

Harold Joseph Lasky once said, “Where the rules of the game don’t allow you to win, English gentlemen change the rules.” We can impose our own rules of the game even on banks. The main thing to remember is that the sooner you contact us, the more time we will have to rewrite the rules of the game.

Here are some typical situations:

1. The standard condition for lending is the obligation to provide accounting and financial statements for the entire period of the client’s obligations to the bank. Failure to report is subject to a fine (it can be either 10 or 100 basic units, depending on the bank and the type of loan). The existence of any obligation, whether it is the amount of the principal debt or 1 ruble of an unpaid penalty, extends the life of this condition of the contract. And given that reporting is provided periodically, the sum of fines can grow to significant numbers completely unnoticed by you. Credit recipients should remember that most of the penalties for a loan can be challenged by law and significantly reduce the amount collected by the bank, up to the minimum.
   Similar problems can be encountered by guarantors who naively believe that their only obligation is to repay the debt of the borrower in case of delay.
2. When dealing with problematic debt, the bank will resort to seizing property that is often worth more than the amount of debt collected.
   It should be remembered that the legislation protects not only the creditor, but also the debtor. In case of disproportionality of the recovered amount of the value of the property, it is almost impossible to foreclose on it. In addition, you can always delay the sale of property, work with the assessment and during this time find options to pay off the debt, while retaining a valuable asset.
3. Banks, when collecting a loan, as a rule, resort to the mechanism of imposing a notary’s executive inscription, which is an executive document. But such a procedure is possible if there is no dispute about the right, which means that the debtor has a chance to complicate the bank’s life and sit down at the negotiating table, seeking more favorable conditions even if there is a delay.
4. Dealing with bad debt in a bank is an algorithmic process. If you have received a written claim for repayment of the loan, this means that the process has already started. Do not wait for the next stage and attract specialists to save money banally. How many people know that managed foreclosure can allow you to stop accruing interest on a loan, or that a high proportion of problem debt for a bank is a problem itself?

How we handle banking disputes:

1. We will get acquainted with the loan agreement (and other documents) and court materials (if the case has already reached it). We will analyze the terms of the agreement, compare it with the bank’s requirements, and determine the chances of a successful dispute resolution.
2. We will draw up objections to the bank’s claims or prepare counterclaims. Depending on the type of dispute, based on the case materials studied, we will prepare written objections to the bank’s claims for reducing the amount collected, excluding claims, preparing a claim to appeal against the notary’s executive inscription, etc. We will make every effort to resolve the dispute out of court. But if it does arise, we will assist in passing all the judicial instances.
3. Finally, if the bank is a predator, then there is an even bigger predator in the food chain. For banks – this is the National Bank, which really does not like when the bank violates its own rules of the game.

The cost of dispute resolution services with banks starts from 300 BYN.