The Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market
How can a borrower obtain a loan payment deferment from a microcredit organization?
A payment deferment may be granted to borrowers belonging to socially vulnerable groups or those affected by emergency situations for a period of at least three months.
To apply for a deferment, a borrower must submit a request to amend the terms of the microloan agreement, together with documents confirming the circumstances that caused the borrower’s inability to meet repayment obligations, as well as information on income (for example, illness, loss of employment, or an emergency situation).
The following documents may be required:
1) a certificate confirming registration as unemployed and/or a certificate of the borrower’s income for the last six months issued by the employer, or a statement showing the borrower’s income and cash flows;
2) an employer’s order terminating the employment contract, granting unpaid leave, or a certificate of temporary disability;
3) a certificate of employment indicating the amount of salary and an extract from the Unified Accumulative Pension Fund;
4) a document confirming that the borrower is on pregnancy and maternity leave, leave related to the adoption of a newborn child, or unpaid parental leave until the child reaches three years of age;
5) a certificate of temporary disability confirming the illness of the borrower’s close relatives or spouse, or a death certificate of the borrower’s close relatives or spouse;
6) a notarized lease agreement specifying the rental payment terms and deadlines;
7) documents confirming material damage suffered by the borrower as a result of an accident or unlawful actions of third parties (for example, theft of goods in circulation or other property used for business activities);
8) official documents confirming the occurrence of force majeure events;
9) a disability certificate;
10) a decision of an authorized state body to seize the borrower’s accounts;
11) a collection order;
12) court decisions;
13) other documents confirming the deterioration of the borrower’s financial situation.
If the borrower submits incomplete documentation or information, the microcredit organization may request additional documents confirming the reasons for the payment delay.
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