According to Starfin, if you have missed a loan payment, you should reconcile the schedule with actual payments and send the creditor a written request detailing the missed payment and a specific proposal for repayment.
How to determine which payment was missed
Open your contract and your personal payment schedule, because the next instalment, the overdue amount and the remaining loan balance may differ. For Starfin clients there is an explanation,where to check the payment date and amount.
If funds were debited from your card, verify the posting, keep the receipt and check the transfer status. There is guidance,on what to do if a payment does not appear; in your request ask specifically for the transaction to be checked, because changing the schedule alone does not resolve this.
Which facts and documents to include in the request
In the letter indicate the contract number, the date of the missed instalment, the amount, the reason for the delay and a specific request. To consider restructuring, the financial institution may request documents explaining the repayment difficulties, for example confirmation of a salary delay.
Calculate the amount you can realistically pay after expenses for housing, food and medical treatment, and state clearly the date when funds will be available or indicate that the date is unknown. Do not present uncertain forecasts as a promise; in the request propose an amount and date you can genuinely meet.
How to format the request and what to check after receiving a reply
The subject line should include the contract details, and you can use the following template in the body of the text:
Under contract No. [number] dated [date] the payment of [amount] UAH was due on [date]. Due to [circumstance] I was unable to pay it on time. I ask you to provide an up-to-date calculation of the debt and to consider the possibility of changing the schedule. I can propose to pay [amount] UAH on [date]. Please inform me of the available options, their total cost and the procedure for formalising them. Please send your response to [address]. Attachments: [list].
Send the request through the creditor’s official channels, keep a copy, attachments and proof of sending, and ask for the request registration number. As a general rule, under Article 17 of the Law on Consumer Lending, restructuring takes place by agreement between the creditor and the consumer; if new terms are offered, check the amounts, dates, subsequent charges and the moment they come into effect.
