Procedure of consideration of clients' requests on issues of regulation of troubled debts
PROCEDURE OF CONSIDERATION OF CLIENTS' REQUESTS ON ISSUES OF REGULATION OF TROUBLED DEBTS
The borrower has the right to apply to the Bank within 30 calendar days from the date of occurrence of delay in fulfilling of obligations with a written application on change of conditions of the agreement with obligatory reference to the reason of reduction in incomes and application of documentary evidence. Alterations of contract, and specifically connected to:
an alteration in rate reduction of interest under the contract of banker's loan;
an alteration of currency of the principal balance under the banker's loan given in foreign currency to the national currency;
a delay of payment on the principal balance and (or) interest;
an alteration of the debt repayment method or debt repayment order, including with repayment of the principal balance on a priority basis;
an alteration of the term of banker's loan;
a remission of overdue principal balance and (or) interest, annulling forfeit (fine, penalty), commissions and other payments related to a banker's loan;
individual disposal by mortgagor of a real estate being a subject of mortgage in the order provided by the Article 20-1 of the Law of the Republic of Kazakhstan "On mortgage of real estate";
providing a compensation instead of fulfillment of contractual obligations under the contract of banker's loan by transferring pledged property to a banker (organization performing certain types of banking operations);
a disposal of real estate which is a subject of mortgage with a transfer of obligations under the contract of banker's loan to a buyer.
The Bank, within 15 calendar days, properly notify the borrower of:
a consent with the proposed alterations in the terms of the contract;
proposals to alteration the terms of the contract;
a refusal to alteration the terms and conditions of the contract specifying the motivated reasons for such refusal.
The following main cases are defined, in which the borrower has the right to apply with the application for amending the terms and conditions of the contract:
a registration of the borrower as unemployed with the employment authorities;
an alteration of the borrower's social status, i.e. categorizing as vulnerable social groups, or obtaining a vulnerable social group status for a cohabiting near relative or spouse (spouses) of the borrower, who affected the reduction of the average monthly income;
a temporary disability of the borrower (more than 3 months) due to illness;
the borrower's leave for childcare;
a military conscription of the borrower;
family reasons related to illness (from among socially significant diseases) of near relatives, spouse (spouses)of the borrower or death;
a situation that has caused material damage to the borrower (theft, fire, etc.). The borrower must provide information on the current financial and social status, providing documentary evidence of a reduction or absence of income, which would allow the borrower to fulfill his/her obligations under the contract.
The means of applying to the Bank:
a written request via a postal service or e-mail;
a spoken communication by phone and during the direct visit of the client to the Bank.