functioning of the financial system in the world is impossible without such an important mechanism as lending.Credit - a relationship of economic character arising between subjects of a financial transaction is to provide lent (borrowed) cost of achieving certain objectives, subject to its repayment, and urgency.
credit system
purpose of the credit system is the mobilization of available funds to provide them in an emergency use for a fee.The system is a commercial banking organization.Its main activity lies in the design of loans and deposits and deposits.In addition to commercial banks, the important participants in the credit system are: central bank, specialized credit and financial institutions.Most countries have a three- or four-level system of credit: the first level - the Central Bank, on the second - the various forms of banks (savings, investment, mortgage, commercial).At the third level - non-bank financial institutions.It highlights the fourth level, which include insurance and pension funds, credit unions and others.Operation of the system is provided by the interaction between the participants of credit relations.
subjects of credit relations
subjects of these relations are the lender and borrower.Relations between them are determined by the need for money supply from the borrower and its presence, and most importantly, the possibility of granting the lender.Thus, the lender - it is the party that grants the loan (loan / loan).Borrower - a party that gets the credit (loan / loan) and assumes the obligation to return the borrowed funds in a timely manner.
One and the same person in the framework of the financial and credit relations can simultaneously act as both a lender and as borrower.Definition of it in this case is such that, for example, an individual, making out a loan at the bank, acting as a borrower, the bank in this case - as a lender.At the same time, the presence of the deposit at the bank changes the participants regarding the place.And a private person - the lender and the bank is the borrower.
Object credit relations
main component of relations between the borrower and the lender is the object of transmission.The object of the transfer of credit relations - is lent, or so-called unrealized value.In other words, the lender has available funds, he settled in and stop its movement.Thanks to the loan, there is an opportunity to start a new cycle for the continuation of the turnover and direct funds into circulation.It's enough to give a loan to the borrower under certain conditions.From this perspective, the borrower - a person who, by producing and trafficking of sums advanced not be interrupted by the circuit allows finance.This ultimately speeds up the reproduction process.It advances the character of loans is an important feature of the credit and financial relations.
Another important condition for the functioning of credit facility is repayable and the preservation of property rights of the creditor to the funds that are provided for use by the borrower.One of the guarantees of repayment is the borrower's creditworthiness.
fundamental principle of the loan - the preservation of its value
providing the means in use of the lender, it is important at least to keep them and how to increase the maximum.The fulfillment of these conditions is a fundamental quality of lending.
In reality, is not always possible to implement it fully.The main dangers of participants credit and financial relations, are inflationary pressures.The result of the overflow channels of monetary circulation is a surplus of money and, as a consequence, reduction of its purchasing power.Borrower - a person who assumes the obligation to repay the loan.But in a situation of inflation returned by cash, while maintaining the nominal size, actually have already utsenёnnuyu form.However, there are many other risks, which has taken upon the occurrence of credit is not in a position to repay it in accordance with the terms of lending.And not always the fault lies only on the debtor.Often it is a violation of their legitimate rights leads to such disastrous results.
Protecting the legal interests of borrowers
Initially, the credit-borrower - is the weaker from the legal point of view side.Financial institutions to minimize the impact on the content of the contract customer lending, thereby limiting its ability to influence the conditions for granting and payment of the loan.This forces the signing of the contract that the most favorable to the creditor, but at the same time undermine the rights of the borrower.The most common violations of rights of a person who has taken a loan:
- calculation of the interest rate on the loan to the whole body of the loan (rather than on the balance debt);
- accrual loan fees;
- accrual of penalties, does not fit the basic duty;
- jurisdiction dispute over territoriality of the lending bank;
- insurance borrowers as a condition for the loan;
- inclusion in the contract of lending conditions of the assessment fee for maintaining the loan account and the issuance of the loan.
Federal Law "On consumer credit (loans)»
Since July 1, 2014 in the Russian Federation, the Law № 353-FZ.His goal - to normalize relations, which occur in the provision of consumer credit (loans) to an individual, if the loan is issued not for business purposes.
main purpose of the law - restoring order in the consumer credit market and the protection of borrowers.Unfortunately, until recently, even stable banks with a high reputation allowed themselves to use legal illiteracy customers.Aimed at ensuring the legal protection by the borrowers law clearly regulates the following points:
- standardized form of the contract of credit;
- restrictive size of the penalties assessed in the event of late payment on the loan;
- limit retail lending rates;
- clarify the mechanism for calculating the effective interest rate;
- greater control over the work of microfinance institutions;
- regulate the work of collection services.
Millions of people live in debt
According to statistics, from 60 to 90% of the working population of the country have outstanding loans.At the same time the popularity of loans is growing steadily.Citizens in a daze conclude a credit agreement.And the banks, the minimum checking the creditworthiness of the borrower, are willing to lend.Sometimes it is enough to present a passport.In such ease and affordability lies "bomb" that can hit both the lender and the borrower on.If the borrower is unable to repay the loan, then it is a problem not only for him but also for the lender to repay debt.It is important to soberly assess the risks and the level of responsibility and arrange a loan only when 100% confidence in its redemption.
