Solutions for liquidity crises
Everyone can experience difficulties with finances and home financing. Unexpected events can occur that change the initial assumptions. There are a number of resources available to households to deal with the problem, depending on the extent of the problem and individual circumstances.
It is important to seek immediate help before defaults become significant. Debtors are encouraged to familiarize themselves with the solutions and contact an HMS consultant or the Debtor's Ombudsman as soon as possible if the problem is extensive.
Did you know this?
- If you enter into an agreement for the payment of arrears, collection actions will stop, but the loans will bear late interest for the duration of the agreement.
- If it is agreed to postpone payments, convert defaults or extend the loan period, the terms of the loan are changed. In order for the terms to be changed, the loan must be in arrears or it is agreed to add arrears to the principal so that late interest is no longer calculated and collection actions stop.
- It is to your advantage to make moderate use of the deferred payment because the payment after the deferred payment is higher than the regular payment before the loan was deferred.
- If arrears are added to the principal, the loan amount increases and the regular payment after the arrears are added to the principal also increases.
- A credit extension is the only option that can result in a lower monthly payment, but with a credit extension, the credit period and the number of remaining due dates increases, so that the total loan payments increase. View the effect of the credit extension with the calculator Changing the credit period.
- We have the calculator Compare loan options which will simplify your process of calculating all loan options available in the marketplace.