Restructuring application for individuals with overdue debts
To restructure the loan, you need to fill out an application
According to clause 1-1 of Article 36 of the Law of the Republic of Kazakhstan "On Banks and Banking Activities in the Republic of Kazakhstan" "1-1. Within thirty calendar days from the date of default on the obligation under the bank loan agreement the lender – individual has the right to visit the bank (organization carrying out certain types of banking operations) and (o)r submit a statement in writing or in the manner prescribed by the bank loan agreement, containing information on the reasons for the overdue obligation under a bank loan agreement, income and other confirmed circumstances (facts) which give rise to his/her application to amend the terms and conditions of the bank loan agreement".
In order to be considered for a restructuring application, you must submit the recommended list of documents:
- documents confirming the deterioration of the Borrower's financial condition (certificate of income from the place of work for the last 6 (six) months;
- order to terminate the contract;
- certificate of termination of the contract;
- a copy of the employment record with a note on the termination of the contract;
- medical documents;
- documents confirming unforeseen expenses, force majeure;
- individual income tax return of the Borrower – individual for the last tax period, other);
- documents reflecting the availability of the possibility of fulfilling the Borrower's obligations under the Loan Agreement and confirming his income (report of the State Pension Payment Authority;
- real estate lease agreements and/or other documents).
During the application process, the bank may request additional documents.
After receiving the application for restructuring, the Bank will review the proposed changes to the terms and conditions of the bank loan agreement within 15 calendar days.
The bank will then notify the Lender in writing or as specified in the bank loan agreement:
- agreeing to the proposed changes to the terms and conditions of the bank loan agreement;
- its proposals to amend the terms and conditions of the bank loan agreement;
- refusal to amend the terms and conditions of the bank loan agreement, indicating a reasoned justification for such refusal.
To get advice on a troubled debt, call the toll-free number 5050 (press number 6).