When loan repayment difficulties are encountered

Consider the existing situation responsibly. It is necessary to assess personal and family situation, i.e. income, expenses and financial obligations as well as the balance of funds remaining for subsistence.

Assess your possibilities to reduce expenses, i.e. prepare an action plan. Often, preparation of such a plan might lead to at least minimum changes in your lifestyle, but financial discipline, when introduced in good time, can help avoid larger problems in the longer run. You can always find recommendations on management of private finances on the page of Swedbank Institute of Private Finances.

When significant deterioration of financial situation (reduced income, loss of job) causes financial tension in your private budget, in addition to preparing an action plan it is also recommended to apply to the Bank’s specialist and discuss the existing situation and planned actions. When the Bank’s specialist starts clarifying the situation, he can ask you to submit different documents that are relevant in such case. For example, the Bank’s specialist can ask you to submit documents demonstrating your income, etc. These documents are necessary for the assessment of the current situation with maximum objectivity and finding the most appropriate solution. If it is agreed to restructure loan conditions, amendments to the loan agreement will be signed.

Remember – the earlier you discuss with the Bank’s specialist the arising or imminent problems, the easier it will be to address them. You can apply by connecting to your internet banking and writing an internet bank message, calling at the Bank’s short number 1884.

Customers who have lost their jobs and who had concluded the Loan Payment Protection Insurance contract may submit their claims by emailing to zalos@swedbank.lt or by completing a special form on their personal internet banking account.

In the case of mortgage loans, having considered the customer’s situation we can suggest the following solutions or their combinations:

• Change of the loan instalment repayment day – this solution is suggested when the day on which wage, benefits or other earnings are received changes. You can change the loan instalment repayment day free of charge by connecting to your internet banking, selecting the link ′My agreements‛.
• Adjustment of the loan repayment schedule and/or extension of the loan maturity in order to reduce monthly instalments. You can apply by connecting to your internet banking and writing an internet bank message, calling at the Bank’s short number 1884.
• Arrangement for the deferral period of loan repayment instalments during which the customer will pay only loan interest. Deferral of loan repayment instalments shall be possible when at least one of the following circumstances exists: the borrower’s marriage is dissolved; the borrower’s spouse dies; the borrower or his (her) spouse becomes unemployed; the borrower is recognised fully or partially incapable to work in accordance with the procedure set forth in the Law of the Republic of Lithuania on the Social Integration of the Disabled; and in other circumstances. The customer can apply by connecting to his (her) internet banking and writing an internet bank message, calling at the Bank’s short number 1884.

In the case of consumer credits (a consumer loan, a credit card, etc.), having considered the customer’s situation we can suggest the following solutions or their combinations:

• Change of the loan instalment repayment day – this solution is suggested when the day on which wage, benefits or other earnings are received changes. The loan instalment payment day can be changed free of charge by connecting to internet banking and selecting the link ′My agreements‛.
• Extension of the loan maturity – the customer’s loan repayment period is extended in order to reduce monthly instalments. The customer can apply by connecting to his (her) internet banking and writing an internet bank message, calling at the Bank’s short number 1884.
• Arrangement for the deferral period of loan repayment instalments during which the customer will pay only loan interest. The customer can apply by connecting to his (her) internet banking and writing an internet bank message, calling at the Bank’s short number 1884.

In the case of leasing, having considered the customer’s situation we can suggest the following solutions or their combinations:

• Change of the lease payment day - this solution is suggested when the day on which wage, benefits or other earnings are received changes. The lease payment day can be changed free of charge by connecting to the internet banking and selecting the link ′My agreements‛.
• Adjustment of the repayment schedule and/or extension of the lease agreement term in order to reduce monthly instalments. The customer can apply by connecting to his (her) internet banking and writing an internet bank message, calling at the Bank’s short number 1884.

In the case of customers who are called up for doing continuous mandatory initial military service, having considered the customer’s situation we can suggest the following solutions or their combinations:

• Change of the loan instalment repayment day – this solution is suggested when the day on which wage, benefits or other earnings are received changes. The loan instalment repayment day can be changed free of charge by connecting to internet banking and selecting the link ′My agreements‛.
• Deferral of loan repayment instalments and/or extension of loan maturity by making an arrangement that the customer will pay only loan interest and/or that the loan maturity will be extended in order to reduce monthly instalments. In the case of home loans / mortgage loans the deferral of interest is also be possible, i.e. by making an arrangement on payment of interest immediately on expiry of the continuous mandatory initial military service period or on payment of deferred interest on expiry of the continuous mandatory initial military service period according to the newly concluded interest payment schedule. Conscripts doing their continuous mandatory initial military service who would like to change the terms and conditions of the existing agreement, in the first instance, must furnish the Bank with certificates issued by regions which call them up for service demonstrating that they were actually called up to military units and will have to do the military service for 9 months. The application and certificates shall be submitted by visiting the Bank’s branch prior to leaving for the military service.