Any loan relationship is governed by Chapter 42 of the Civil Code of the Russian Federation and is sealed by a bilateral agreement, which specifies all the conditions for the return of the loan, interest, terms and amount. If the borrower cannot timely fulfill the debt obligations, then by mutual agreement it is possible to extend the contract or conclude a new one.
Necessary
- - the passport;
- - contract;
- - statement.
Instructions
Step 1
If you want to renew the loan agreement and postpone the return of borrowed funds to other terms, apply with a statement or an oral request to the lender. Oral appeal is more appropriate if a private person acts as a creditor. It is appropriate to submit a written application to official credit organizations.
Step 2
In the application, indicate the reason why you want to renew the contract and return the funds at a later date. Instead of an application, you can extend the loan repayment agreement on the basis of a court order after considering your financial insolvency case at the request of your creditors. In this case, you can be provided with an installment plan for the loan repayment for 5 years.
Step 3
If there is no court order, then the contract can be extended only by mutual agreement. Extension of credit relations is possible by drawing up an additional agreement to the main agreement or concluding a new loan agreement with different conditions and terms for repayment of borrowed funds.
Step 4
If your lender agrees to renew the agreement, then draw up an additional agreement in duplicate for each of the parties or renegotiate the agreement and indicate the new credit conditions. The supplementary agreement does not have a unified form, and you can draw it up by hand indicating all the new terms. At the beginning of the document, indicate to which agreement the agreement was concluded, who concluded it and with whom, what agreement the parties came to in the person of the borrower, lender, describe in detail all the new terms of repayment. As with the conclusion of the main agreement, when drawing up an additional agreement, witnesses must be present, both from the lender's side and from the borrower's side.
Step 5
If you renegotiate the agreement, then draw up a completely new document, indicating that the previous loan agreement has expired. In the new agreement, describe all the loan conditions, amounts, repayment terms and interest rates.
