Rescheduling the loan by extending the tenure
An hour and a half
The Fund’s headquarters – Amman – Public Administration – legal department
1% of the total amount due.
- Required Documents
- Persons benefiting from the service
- Related Services
Conditions for obtaining service
- The loan must be non-performing.
- The remaining period of repayment is less than 36 months.
- At least one legal action has been taken with respect to the loan.
Departments and institutions where the new sponsor (s) or the borrower work, if rescheduling requires so.
- The applicant shall visit the legal affairs department.
- Negotiate with the client to determine the causes of default.
- Corrective actions of the default are agreed upon.
- The outcome of the agreement is presented to the Central Collection Commission for approval of rescheduling.
- 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.
- 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.
- The applicant shall implement the agreed procedures.
- The entire application is then submitted to the Finance Department to implement the settlement rules and assign the application a new loan number.
Depending on the agreed upon rescheduling procedures.
Persons benefiting from the service
Borrower and sponsor for non-performing loans.
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