Settlement of problem debt
Mechanisms and procedure of circulation
Resolution mechanisms
If difficulties arise with loan repayment, ACC is ready to consider the following debt settlement tools in accordance with the legislation of the Republic of Kazakhstan:
Deferred payments
Postponement of the deadlines for payment of the principal debt and/or interest to a later period.
Extension/change of schedule
Increasing the loan term and revising the repayment schedule taking into account the current financial condition of the borrower.
Write-off of penalties
Write-off of accrued fines, penalties, commissions and other sanctions if there are grounds provided for by ACC’s internal documents.
Other ways
Other settlement mechanisms provided for by the legislation of the Republic of Kazakhstan and applicable regulations.
How to apply
To initiate a debt settlement procedure, you must contact the ACC in one of the following ways:
- 1Personally contact the nearest regional branch or ACC central office
- 2Submit a written application via mail or by hand
- 3Use the payment method provided for in the loan agreement
- 4In the application, indicate the reasons for the delay, the current financial situation and attach supporting documents
Procedure for consideration
An application for debt settlement is considered in the following order:
- The application is registered and sent to the relevant division of the ACC
- An analysis of the borrower’s financial condition and the reasons for the delay is carried out
- If necessary, additional documents are requested
- The decision is made in the manner and within the time frame provided for by the internal regulatory documents of the ACC
- The borrower receives a written response with the results of the review