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Rescheduling the loan by extending the tenure

Estimated Time: 
An hour and a half
Location: 
The Fund`s main center



 - Amman  The General Administration



- The Legal Affairs Department.
Estimated Fee: 

1% of the total amount due. 

1
  • Description
  • Procedures
  • Required Documents
  • Persons benefiting from the service
  • Files
  • Related Services

Conditions for obtaining service

  1. The loan must be a default one.
  2. The remaining term for loan repaying less than 36 months.
  3. . A legal proceeding has been taken at least in relation to the loan.

Notes

None

Partner institutions:

The department or entities which the new guarantor works for or the borrower if the scheduling requires that.

Procedures

  1. The applicant refers to the Legal Affairs Department.
  2. Negotiating the client to identify reasons behind the loan default.
  3. Agreeing upon procedures to solve the loan default.
  4. Presenting the agreement results to the Central Collection Commission and request scheduling approval.
  5. In case of approval, the applicant submits a request to the Legal Affairs after being signed  at the Bureau and given an incoming reference number to proceed in the scheduling.
  6. Proceeding in the scheduling as agreed upon:
  • Addressing the Financial Department to restrict the lawyer fees, if any  and restrict 1% of the entitlement balance .
  • The scheduling installment is 50% of the amount due and enhancing securities by an additional personal guarantor or a source of income.
  • Or paying 25% of the amount due and an additional guarantor by transferring a deduction from his or one of the guarantors` salaries.
  • Addressing the Public Service Office to insert the new guarantors.
  1. The applicant executes the proceedings agreed upon.
  2. Submitting the whole file to the Financial Department to execute the settlement restrictions and give the file a new loan No.

Required Documents

1. It depends upon the scheduling proceedings agreed upon.

Persons benefiting from the service

The borrower/ the guarantor of defaulted loans.

Files

No Found Files

Related Services

  • Refund the excess premiums
  • Quittance for a paid-off loan
  • Quittance for a paid-off loan or via branches
  • Receiving loan applications by citizens
  • Quittance for a paid-off loan or via headquarters
  • Financing charities and cooperatives
  • Issuance of account statement
  • Accessing the loans committees decision and completion of the loan procedures
  • Financing transportation means
  • Obtaining a new loan
  • Obtaining a loan for Entrepreneurial projects
  • Obtaining a loan for an existing project or development
  • Changing loans guarantees or replacing a personal guarantor
  • Changing a loan collateral Replacement of current sponsor with anew sponsor
  • Changing a loan collateral Replacement of mortgaged land or real estate property
  • The Directorate of Follow-up, Collection, Legal Affairs and Full Repayment
  • Visiting the project site for evaluation
  • Visiting the project site to disburse the second installment
  • Training of targeted groups for employment in small enterprises
  • Signing the Agreement
  • Settlement of the loan over the same tenure with increased installments
  • Other Financial Services
  • Handing over checks to suppliers
  • Financing unemployed youth
  • Establishing a loan file
  • Financing projects of poverty pockets residents
  • Financing people with disabilities
  • Financing college tuition

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