Credit Legal Follow-up Process , when the loan debt legal follow-up starts, when credit enforcement proceedings start, when the loan execution period begins, how does the executive legal follow-up process work on loans? You can find all the information below. Credits are used by signing many documents at the application stage. Even high-volume credit agreements are widely spoken among the public. The general content of these contracts that you signed when you withdraw the loan will cover what happens to you if the loan is not paid. If you do not make a payment to a bank in any way, this debt is committed to pay in any way whatsoever. So you’re committed to paying the loan. So how does the legal follow-up process work? When does the legal follow-up process begin?
How Does Legal Follow-Up Process Work?
Credit debts and subsequent legal follow-up transactions are determined by the Consumer Credit Regulation. Banks may impose sanctions on their customers in line with the criteria set by this regulation. In the event that 2 consecutive installments are not paid, the banks may have the right to initiate the legal proceedings as well as the right to demand the remaining amount of the loan from you. Of course, there are a lot of things to consider before you take credit. Legal follow-up processing time and considerations include;
If you do not pay 2 consecutive installments
your credit will be canceled by the bank and legal proceedings will begin. We can also show the start of legal proceedings as 90 days. The bank can initiate legal proceedings directly as it will expire when you do not pay 2 credit installments and reach the maturity of 3rd installment. During the process, the bank employee or a lawyer authorized by the bank can call you.
the bank may cancel your credit once legal proceedings have begun. It also has the right to demand that you pay the full amount once, not in installments. However, banks cannot confiscate your entire salary account, so they can confiscate one-fourth of your salary. If your entire salary account is foreclosed, you can appeal to the Executive Directorates.
If you are unable to repay your loan, and you have immovables, remove these immovables as soon as possible
It will be beneficial to carry out these transactions before entering the legal follow-up process of the loan. If the bank wants to make transactions on these immovables, they may cause the immovable to be sold at very low values. (40%)
In this process
no one can provide information to the family members except the original debtor and guarantor . If you have family members who have been harassed by the bank, you can apply for legal remedies .
Have a constructive conversation with the bank attorney after entering the legal process.
Ask your lawyer to pay in installments and deduct interest without forgetting that you will pay this debt in every way. Accept when options are available for you to pay. After this stage, it can be shaped completely according to your payments.
Credit Legal Tracking Process When?
As stated in the first sections of this article , you have the right to delay the loan installments by 2 months . Of course, having such a right does not mean that your credit record will not be broken. If you delay your credit debt by 1 day, the bank will call you and ask you to pay. However, you must not have paid for two consecutive months in order for the loan to fall into legal proceedings. In other words, if you do not pay your loan for 90 days, the bank will initiate legal proceedings. There is no legal follow-up before this period.
When The Bank Came From The Warning?
If you do not pay 2 consecutive installments to the consumer credit you have used, your bank will send a strike to your address for this credit. Although some banks send a warning after the first installment delay, this is usually done if the 2nd and 3rd installments are not paid. However, it is useful to enter the way of payment from the moment the warning comes on behalf of the measure. The strikes will be sent to your registered address.
When does the foreclosure process begin?
If all of the legal follow-up criteria mentioned in the first part of our article have been fulfilled and you have not paid in 3 installments, the bank lawyers will contact you and the foreclosure process will be started. At this stage, salary foreclosure, real estate foreclosure and home foreclosure may be in question. When the 90-day period (3 installments not paid) expired by the bank expires, unfortunately the transaction is completely in the hands of the banks and the transaction is transferred to the lawyer and the transaction is resolved with the lawyer, not the bank.
If Bank Debt Is Not Paid, Will Imprisonment Come? After this stage, bank employees cannot give information about the subject, you are directed to authorized attorneys only. The lawyers calling you are doing their best to speed up the procedures by giving you days and time. After these transactions are completed, if you do not pay within the time given by the lawyer, the foreclosure process begins and the collection begins.
When does the bank’s lawyer contact?
Generally, banks authorize some law firms in their neighborhoods and some work with their own lawyers. If any of the above steps happened to you ( usually 3 installments are not paid ), the attorney authorized by the bank will contact you. This process occurs only if the third installment is not paid , ie after the start of legal proceedings. Of course, before the bank lawyers call you, the staff at the bank will call you repeatedly and remind you that you have to pay for the loan. As you understand, legal pursuit is considered as the last resort and your debt falls into legal proceedings . If you are able to pay, you should consider the calls made by the bank.