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Restructuring

of loans

Solutions for restructuring of loans granted by UniCredit Bank

Do you have harder times? You or your co-borrowers go through a difficult situation that makes it difficult for you to pay the installments, such as:

  • Income decrease?
  • Medical or disability issues?
  • Activity interruption?
  • Other problems (eg significant change of the exchange rate, debt ratio increase, death, natural disasters, etc.)?

Due to the long repayment periods, various situations can occur that make the repayment difficult. In these cases, we help you with restructuring solutions adapted to the situation you are facing. The purpose of these contractual renegotiations is to avoid the accumulation of uncontrollable arrears, the recovery of loans and the gradual return to a normal repayment, as close as possible to the initial conditions.

Restructuring options

The restructuring operations that could be offered in case of these difficult situations can be:

  • refinancing;
  • prolongation of the tenor of the credit contract, with decreasing of the monthly rate;
  • changing the type of credit agreement - transforming a revolving credit facility (credit card or overdraft) into a credit with monthly installments;
  • changing the interest rate - temporarily reducing the interest rate;
  • offering a period without payments (total grace): it is granted for all the components of the credit, except the life insurance premiums, for a period of up to 6 months - during the grace period the interests and commissions are calculated, and these, as well as the principal installments that were due during the grace period, will be paid after the end of the grace period;
  • short-term rate reduction (partial grace): applies to one or more components of the loan (principal, commission, interest, combined variants thereof) and can be granted for a period of up to a maximum of 12 months - during the period grace granted for interest and / or commissions, they are calculated but will be paid after the end of the grace period;
  • consolidating more loans that can offer a longer loan term and a lower rate;
  • rescheduling of installments - modification of the maturity and / or the payment amount of one / more credit installments in balance without exceeding the initial duration of the granted loan (final maturity of the loan);
  • rescheduling of installments - Changing the maturity and / or the payment amount of one / more credit installments in balance with exceeding the initial duration of granting the loan and / or classifying the loan in another category, as the case may be (medium term, long term);
  • credit conversion - by changing the currency of the loan;
  • combined variants of the above restructuring methods.

What should you do if you are in a difficult situation?

If you face difficulties that are affecting the loan repayment, it is necessary to report the situation to us in any of our branches.

The documents required for the credit restructuring analysis are:

  • restructuring request;
  • ANAF report for income from salaries (the query is made based on the agreement signed by the applicant) / other supporting documents regarding the income of the borrower and co-borrowers;
  • other documents attesting to the situation (eg. the decision to terminate the employment contract or to decrease the income, medical documents, bank statements, single statements, company financial documents, death certificate, etc.);
  • identity card;
  • consultation agreements in the databases for the borrower and co-borrowers.

There may be cases in which additional documents are required, depending on the specific situation of each person, so that the bank offers the most suitable restructuring solutions. Following the analysis of the information and documents provided, we will issue a restructuring decision. If the restructuring operation is possible, this will be materialized by signing an additional deed to the credit agreement and, if applicable, to the guarantee contracts. In case of refinancing, a new credit agreement and the related guarantee contracts will be signed, if applicable.

Regarding the possible number of restructuring operations, they are analyzed individually, from case to case, during the development of contracts and several restructuring plans may appear.

What you need to know

The granting of restructuring solutions entails their reporting to the Credit Bureau. The consequences arising from the reporting process to the Credit Bureau may vary depending on the policy of each bank.

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