Home Government Entities Ministries

Rescheduling the loan by extending the tenure

Estimated Time: 
An hour and a half
Location: 
The Fund’s headquarters – Amman – Public Administration – legal 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 non-performing.
  2. The remaining period of repayment is less than 36 months.
  3. At least one legal action has been taken with respect to the loan.

Notes

None

Partner institutions:

Departments and institutions where the new sponsor (s) or the borrower work, if rescheduling requires so.

Procedures

  1. The applicant shall visit the legal affairs department.
  2. Negotiate with the client to determine the causes of default.
  3. Corrective actions of the default are agreed upon.
  4. The outcome of the agreement is presented to the Central Collection Commission for approval of rescheduling.
  5. In the case of approval by the Committee, the applicant shall submit a petition to the Legal Affairs department after having it stamped by the records section. The applicant is then given a reference number to proceed with the rescheduling process.
  6. Proceed with the agreed rescheduling procedures:
  • Addressing the financial department to deposit the lawyer fees, if any, and a 1% of the accrual outstanding balance for the social dimension.
  • The reschedule payment will be: 50% of the amount owed. The collateral must be substantiated by an additional personal sponsor or a source of income
  • 25% of the amount due and an additional sponsor by transferring a deduction or deduction from a sponsor.
  • Address the public service desk to introduce new sponsors.
  1. The applicant shall implement the agreed procedures.
  2. The entire application is then submitted to the Finance Department to implement the settlement rules and assign the application a new loan number.

Required Documents

Depending on the agreed upon rescheduling procedures.

Persons benefiting from the service

Borrower and sponsor for non-performing 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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