Debt Repayment Strategy for Defaulters: Details of the 3-Year Plan with Minimal Initial Payment

Monday, 8 July 2024, 15:10

The new policy offers defaulters a chance to clear their loans within 3 years by making a 10% down payment. This exit facility is not categorized as debt rescheduling or restructuring. Borrowers must fully repay existing loans before being eligible for new credit. This strategy aims to reduce outstanding debts efficiently and encourage timely repayments.
Tbsnews
Debt Repayment Strategy for Defaulters: Details of the 3-Year Plan with Minimal Initial Payment

Debt-Free Exit Policy Details

The new policy allows defaulters to repay their loans within 3 years with a 10% down payment.

Loan Repayment Conditions

Borrowers must fully repay existing loans before being considered for new credit facilities.

  • Important: Exit facility is not a debt rescheduling option.
  • Key Point: 10% down payment ensures a manageable initial repayment.

This strategy emphasizes efficient debt clearance and timely repayments to avoid financial burdens.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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