Execution comes when we are unable to repay our obligations. It is the enforcement of a decision in which a person authorized by the state, ie a bailiff, enforces your outstanding obligation to the creditor from you. This can be basically anyone, from a private person to a telecommunications operator, but there are also very common cases where you get into the hands of an executor due to problems with repayment of a loan.
Most people find themselves in such financial distress for objective reasons, such as job losses and the associated stable income. Or, say, because of a serious illness for which you have to take a lower paid job or work part-time, in the worst case you will remain on a disability pension.
Of course, financial difficulties can also arise for subjective reasons: these are all situations in which you can, as the saying goes, “you can do it yourself.” For example, if your total income is reduced and you do not adjust your family budget to this situation, ie you will not reduce your expenses to the most necessary extent. Accounts, including any debts, need to be paid and you suddenly find that you have nothing to lose.
Top solution – agree on a repayment schedule with the executor
According to statistics, the number of unfinished executions in the country is around 3 million, and approximately 500,000 new execution proceedings are initiated each year. So this is really not an isolated problem!
The good news is that even if the executor knocks on your door, it still doesn’t mean that there is no way out of this awkward situation. The first option is to agree with the executor on a suitably set repayment calendar. It is also the most ideal solution we can recommend!
If you sign a repayment schedule agreement, your debt will be spread over a period of time and you will repay it gradually as if you were repaying a loan. However, the disadvantage is that the executor will block the assets in the execution proceedings, the value of which corresponds to the total amount you owe , and this will remain so until you settle your debts.
Another threat in the air is the fact that the executor will not discuss with you the change of the repayment schedule if he finds that you have problems with repayment. If such a situation occurs , your debt, together with the enforcement costs, becomes due immediately and the executor confiscates your property in the amount of the total debt.
Non-banknotes are also reluctant to lend to clients with foreclosure
Therefore, if for some reason – for example, because you do not want to have long-term blocked assets – you decide that you want to pay off the entire foreclosure debt promptly, you have the option of taking out a loan for this purpose. Such a scenario is also possible, but we must warn you that you will not have it easy at all. The vast majority of entities on the credit market – and now we are also talking about non-banking companies – will refuse any communication with you precisely because there is an execution proceeding against you!
If you are thinking of a bank loan, the probability of obtaining it is almost zero! Banks are interested in solvent clients, whom they know will not have major problems repaying their financial obligations. For this purpose, they always evaluate your creditworthiness before the actual approval (or non-approval) of the loan, and if they come to the conclusion through this analysis that you are so-called insensitive or creditworthy client, you can forget about the necessary financial injection!
Lenders are sure to establish a property
You have a better chance – although, as we have already mentioned, also not the most promising – if you look at the offer of non-banking companies after a suitable loan to pay for execution. But beware: without setting up a property, in the vast majority of cases, you will not get any money! Non-banknotes are also protected against disproportionate risk. And a client who is subject to execution due to inability to repay his current obligations is, for obvious reasons, in the first place in the ranking of risk!
If you do not own real estate, or your house or apartment is blocked due to ongoing enforcement proceedings, the chances of a loan being knocked out to pay for foreclosure are also very low for non-bank providers.
But there is one possibility. There are also loans to pay for execution without liability of real estate, but you must count on a maximum amount borrowed at a maximum of 1000 to 1500 dollars . However, if the executor is breathing down your neck due to a relatively low debt, for example due to unpaid arrears for gas or electricity, this type of loan is a suitable solution for you.