Settlement of problem debts of borrowers - individuals
Terms and Procedure for the Settlement of Debts of Individual Borrowers and Measures Applied to an Insolvent Individual Borrower
Under what circumstances can you apply to the Bank?
- Left without a job (downsizing, quit voluntarily);
- Reduction/delay of wages, leave without pay;
- Maternity leave or parental leave;
- Temporary disability of the borrower due to illness;
- Left without a breadwinner (death of close relatives, divorce, etc.);
- Other circumstances, including force majeure/emergencies
What are the terms and procedures for settling an individual borrower's debt?
The terms and procedure for debt settlement are established by Paragraph 2 of Article 61 of the Law of the Republic of Kazakhstan "On Banks and Banking Activities in the Republic of Kazakhstan".
Annex 2 to the Rules for the Provision of Banking Services (Resolution No. 91 of the Management Board of the National Bank of the Republic of Kazakhstan dated 15 May 2026)
How to submit an application?
1. Submit an application requesting amendments to the terms and conditions of the bank loan agreement. The application should include information on the reasons for the overdue performance of obligations under the bank loan agreement, your current income, and any other circumstances supporting your request to amend the terms and conditions of the bank loan agreement. The application may be submitted in writing at a Bank branch; and/or through the Bank's information systems, namely by email to info@vtb-bank.kz or via the Bank's website. An individual borrower is entitled to submit such an application within thirty calendar days from the date of the Bank’s notice to the borrower of the overdue monetary obligations under the bank loan agreement.
2. Provide supporting documents confirming the reduction in your income and your inability to repay the debt; and/or the circumstances that resulted in your failure to perform your obligations under the current terms and conditions of the bank loan agreement in accordance with Annex No. 1.
3. Within 15 (fifteen) calendar days after receiving the above application, the Bank shall consider the possibility of amending the terms and conditions of the bank loan agreement as proposed by the individual borrower, in accordance with the procedure established by the regulatory legal act of the authorized authority. The Bank shall notify the individual borrower in writing, using the method specified in the bank loan agreement, as well as through its information systems, of one of the following decisions:
• its consent to amend the terms and conditions of the bank loan agreement as proposed by the borrower;
• a counterproposal by the Bank regarding amendments to the bank loan agreement;
• refusal to amend the terms and conditions of the bank loan agreement as proposed by the borrower, together with a reasoned justification for such refusal;
Measures Taken by the Bank in the Event the Borrower Fails to Comply with the Requirements
1. Recover funds in an undisputed manner, including by submitting a payment demand against funds held in the borrower's bank accounts, in accordance with the legislation of the Republic of Kazakhstan.
2. File a claim with the court to recover the outstanding amount under the bank loan agreement, as well as enforce the pledge over the collateral either out of court (except for cases stipulated by the Law of the Republic of Kazakhstan "On Mortgage of Immovable Property") or through court proceedings.
3. Transfer the borrower's debt to a servicing company under a trust management agreement for rights (claims).
4. Refer the debt to a collection agency for pre-trial debt collection and settlement.
5. Assign the rights (claims) under the bank loan agreement in compliance with the requirements of Article 63 of the Law of the Republic of Kazakhstan "On Banks and Banking Activities in the Republic of Kazakhstan".
Contacts:
at a bank branch, you can also provide advice on the settlement of problem debts by calling the toll-free number 5050 (press number 6).