How to tackle loan repayment difficulties?

Swedbank cares for the long-term financial stability of clients. This section, therefore, contains useful information about the possibilities and suggestions on how to deal with situations when repaying a loan has become problematic. Also, here you will find information about what steps need to be taken to get a solution, as well as what are the potential consequences of not meeting loan payments.

To learn about solutions for individuals go to

To learn about solutions for companies go to

Customer's course of action in case of difficulties with loan repayments

It is important to be aware of the situation and assess what lies within your own powers to do.

• If you've lost your job, first go to the State Employment Agency and register. That will give the following opportunities:
• Get the jobless benefit;
• Get information about vacancies and job offers;
• Participate in temporary, paid public works programme;
• Get professional training or re-training;
• Get a stipend during professional training.
• The State Employment Agency’s website www.nva.lv offers all information that one should know in case of job loss, and also information on how to get the status of the unemployed, about temporary job opportunities, the chance to create an attractive CV, to view current vacancies, etc.


• In case of health problems, which prevent from performing job duties partially or completely, you need to get an official note from your doctor.
• Give consideration to asking friends or relatives for help, by them acting as guarantors, as well as considering whether you have a possibility to provide additional collateral (other real estate to mortgage) for the existing loan.
• Give consideration to renting out your property and living with your parents or other relatives for a while.
• Give consideration to selling your car, other real estate, as well as considering other actions that would improve your solvency in the short run and the long run.
• Complete the loan restructuring application, which is available at any Swedbank branch. Hand in the completed application to a bank employee for review.

References from other borrowers concerning cooperation with the bank

Borrower Jānis:

"As it sometimes happens in life, I also had problems - the economic situation changed, I lost job, and the monthly loan payments became a heavy burden. However, I did what every responsible citizen would do - I immediately realized that I’ve got to take the bull by the horns and went to talk to the bank. I’ve come to understand in my life that no one can solve problems unless the key problem-solver - that is me - gets involved.

I'm very glad that I didn’t get scared, didn’t believe various myths and rubbish. At the bank, the conversation was highly constructive, and we figured out which of the many options best suits my particular situation. I did not buy the real estate to make easy money off it - this property is my home and I realized that for clients like this Swedbank will wholeheartedly look for solutions and will find them.

The main thing is to want to look slightly beyond your current problems, to act responsibly and also be ready to deal with issues on your part."

For other stories from customers click here