Settlement of Overdue Debt
Terms and Procedures for Debt Settlement and Measures Applied to Insolvent Borrowers
- You have lost your job (redundancy, voluntary resignation)
- Reduction in pay/ late payment of wages, unpaid leave;
- Maternity leave or parental leave;
- borrower’s temporary incapacity to work due to disease;
- Loss of a breadwinner (death of close relatives, divorce, etc.);
- other circumstances, including force majeure or emergency situations.
- Reduction of the interest rate under the Bank Loan Agreement
- Reduction of the monthly repayment under the Bank Loan Agreement by at least fifty percent of the amount specified in the Bank Loan Agreement
- Conversion of the outstanding principal amount of a loan issued in a foreign currency into the national currency of the Republic of Kazakhstan
- Deferral of principal and/or interest payments
- Change in the method and/or order of debt repayment, including the prioritization of principal repayment
- Change in the term of the loan
- Forgiveness of overdue principal and/or interest and cancellation of penalties (forfeits, late payment charges), fees, and other payments related to the servicing of the bank loan
- Independent sale by the pledgor of the immovable property subject to the mortgage, in accordance with the procedure established by Article 20‑1 of the Law of the Republic of Kazakhstan “On the Mortgage of Immovable Property”
- Provision of consideration in lieu of performance of obligations under the Bank Loan Agreement by transferring collateral and/or other property to the Bank
- Sale of the immovable property subject to the mortgage, with the transfer of obligations under the Bank Loan Agreement to the purchaser.
1. Please submit an application within 30 (thirty) calendar days from the date the Bank sends you the overdue debt notice, requesting amendments to the terms of the Bank Loan Agreement, at a Bank branch, in writing, or by any other method provided for in the Bank Loan Agreement.
2. Please provide supporting documents confirming a decrease in income and difficulties in repaying the debt, in accordance with Appendix 1.
3. Within 15 (fifteen) calendar days from the date of receipt of your application, the Bank provides you with a response regarding:
- consent to the proposed amendments to the terms of the Bank Loan Agreement;
- the Bank’s proposals for amending the terms of the Bank Loan Agreement; or
- refusal to amend the terms of the Bank Loan Agreement, stating the reasons for such refusal.
4. Channels for individuals to submit enquiries to the Bank:
1) via bcc.kz mobile app; instructions are available via the link
2) JSC Bank CenterCredit website https://www.bcc.kz/deferral/ regarding credit fraud;
3) submitted in person by individuals and/or during a visit to the branch/ banking outlet;
4) by email (e-mail) to info@bcc.kz
The Borrower is entitled to apply to the Banking Ombudsman for pre-trial debt settlement on the loan not related to business activities, whilst simultaneously notifying the Bank thereof within three months from the date of:
receipt of the Bank’s decision as provided for in sub-paragraph 3 of Part 1 of paragraph 3 of Article 61 of the Law “On Banks and Banking Activities in the Republic of Kazakhstan”;
failure to reach a mutually acceptable decision on amending the terms of the Bank Loan Agreement within the timeframe provided for in Part 2 of paragraph 6 of Article 61 of the Law “On Banks and Banking Activities in the Republic of Kazakhstan”.
Attachment 2
to the Rules for Provision of Banking Services and Consideration by Banks and Organizations Engaged in Certain Types of Banking Operations of Customer Appeals Arising During Provision of Banking Services
Borrower’s full name (name) and residence address (location)
Notice Date:
(day, month, year)
Information posted on the Bank’s website and (or) mobile app
If the borrower is an individual, within thirty calendar days from the date of occurrence of delay in fulfillment of the obligation under a Bank Loan Contract (the Contract), the borrower may visit the Bank and (or) submit an application, in writing or in the manner prescribed by the Contact, outlining the information on reasons that cause the delay in fulfilling obligations under the Contract, income and other confirmed circumstances (facts) that justify the borrower’s application for modifications to the terms and conditions of the Contract in accordance with Paragraph 1-1, Article 36 of the Law of the Republic of Kazakhstan “On Banks and Banking Activities in the Republic of Kazakhstan” (the Banking Law).
Within fifteen calendar days following receipt of the individual borrower’s application provided for in Paragraph 1-1, Article 36 of the Banking Law, the Bank shall review modifications to the terms and conditions of the Contract proposed by the individual borrower and notify the individual borrower in writing or by other means specified in the Contract of:
1) its consent with the proposed modifications to the terms and conditions of the Contract;
2) its own proposals to modify the terms and conditions of the Contract;
3) refusal to modify the terms and conditions of the Contract with a reasoned justification for such refusal.
In case of receiving the Bank's decision to refuse to modify the terms and conditions of the Contract or in case of failure to reach a mutually acceptable decision to modify the terms and conditions of the Contract, within 15 (fifteen) calendar days following receipt of the Bank's decision, the individual borrower may apply to the Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market by giving a simultaneous notification to the Bank.
If the borrower fails to satisfy the Bank's request to make payments under the Contract, including overdue debt, in accordance with Paragraph 2, Article 36 of the Banking Law, the Bank may levy execution against money on the borrower’s bank accounts on an uncontested basis, including by submitting a payment demand (if such recovery is stipulated in the Contract), subject to the limitations provided for by the Banking Law.
In cases when the borrower fails to satisfy the Bank's request to make payments under the Contract, including overdue debt, and if the individual borrower fails to exercise the rights provided for by Paragraph 1-1, Article 36 of the Banking Law, or the lack of agreement between the individual borrower and the Bank to modify the terms and conditions of the Contract, in accordance with Paragraph 2-1, Article 36 of the Banking Law, the Bank may apply measures against the borrower provided for by the laws of the Republic of Kazakhstan and (or) the Contract, including, but not limited to, transfer the debt for pre-trial collection and settlement to a debt collection agency (if the Bank has such right in the Contract), assign the right (claim) under the Contract to a person indicated in Paragraph 4, Article 36-1 of the Banking Law, file a court action for the recovery of outstanding debt under the Contract, and foreclose on the mortgaged property out-of-court, except for cases stipulated by the Law of the Republic of Kazakhstan "On Mortgage of Immovable Property", or through court.
1. Charge a penalty (fine, interest)
2. To levy recovery in an undisputed procedure against funds, including by submitting a payment demand, held in the borrower’s bank accounts, in accordance with the requirements of the legislation of the Republic of Kazakhstan
3. To transfer debt to the debt collection agency for pre-trial debt recovery and settlement
4. To levy recovery from funds held in the borrower’s bank accounts, except in cases provided for by the current legislation of the Republic of Kazakhstan
5. To assign the right (claim) under the Bank Loan Agreement in compliance with the requirements set out in Article 63 of the Law “On Banks and Banking Activities in the Republic of Kazakhstan”
6. To apply other measures provided for by the Bank’s internal regulatory document, the applicable legislation of the Republic of Kazakhstan and the Bank Loan Agreement.
Information Notice
A Single Service to Replace Dozens of Requests: Kazakhstan Launches a Loan Debt Settlement Platform
The Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market jointly with the First Credit Bureau has developed a unified digital platform finkelisim.kz designed to settle loan debt. The finkelisim.kz digital platform will begin operating on 1 July 2026 based on the banking and microfinance ombudsmen, following a “one-stop shop” principle and using the mediation approach.
Who is the platform intended for?
The new service is designed for citizens with overdue debt on unsecured consumer loans, i.e. loans not backed by collateral, who owe money to multiple lenders at the same time, including banks, microfinance organizations, or collection agencies.
Borrowers will no longer have to approach each lender separately to settle their debt. Instead, they will be able to submit a single application on the finkelisim.kz platform, which will then be reviewed by all lenders they owe money to.
Participation in the collective settlement procedure is free of charge for borrowers, except for the mediator services. However, until 1 January 2027, the costs of the mediator services will be covered by the banking and microfinance ombudsmen.
The finkelisim.kz platform automatically collects data about the borrower’s outstanding debt to all lenders and prepares information required to review the application.
Based on the outcome of the application review and agreement on the terms with the lenders, the borrower may be offered a single repayment schedule with a term of up to five years, or up to seven years for socially vulnerable groups and recipients of targeted social assistance.
Who can submit an application on the platform?
A borrower who meets all of the following criteria may submit an application on the platform:
- has loan debt owed to two and more lenders that is overdue for 90 or more calendar days;
- total loan debt ranges from 150 to 1,600 MCI, i.e. from KZT 648,750 to KZT 6,920,000 in 2026;
- has no court rulings on debt recovery, notarial writ of execution, or other enforced collection measures.
- At the same time, the following borrowers are not eligible to participate in the collective debt settlement procedure:
- borrowers with mortgage loans;
- borrowers with car loans;
- borrowers with bank loans and microloans related to business activities;
- borrowers with loans obtained fraudulently;
- borrowers with loans for which payment deferrals have been granted in accordance with the law to individuals undergoing mandatory military service;
- borrowers with loans already subject to a dispute resolution agreement through mediation;
- borrowers with debts subject to solvency restoration procedures, out-of-court or court bankruptcy proceedings.
How is the borrower’s application reviewed on the platform?
- First, the borrower shall register on the platform and complete biometric identification to verify identity and prevent third parties from submitting applications on their behalf. After that, the borrower shall submit an application for debt settlement.
- The platform then shall automatically check, based on data from credit bureaus, whether the borrower meets the criteria for collective debt settlement.
- If the borrower meets the established requirements, the platform compiles a list of loans that may be included in the settlement process and sends this information to the lenders.
- Lenders shall verify the loan information and confirm the amount of outstanding debt. After that, the borrower shall be provided with documents for signing on the platform: a protocol containing the ombudsman’s decision, a single repayment schedule, an agreement with the mediator, as well as mediation agreements with each lender.
- The borrower must review the proposed terms and sign the documents on the platform within 72 hours. If the documents are not signed within this timeline, it will be considered a refusal to participate in the settlement procedure.
- Once the documents are signed, lenders shall suspend debt collection on the loans included in the settlement procedure.
- Thereafter, the borrower shall make payments in accordance with the single schedule, and the platform shall distribute the funds among the lenders in proportion to the outstanding debt.
- Information on application of the collective debt settlement procedure and its completion will be reported by lenders to the credit bureaus.
- If the borrower fails to comply with the terms of the signed agreements, the lender shall be entitled to recover the debt in accordance with the procedure established by the law after 40 days in arrears.
- In such cases, the borrower will not be allowed to participate in the collective debt settlement procedure again.
- Borrowers who are unable to fulfill their loan obligations may consider applying for an out-of-court bankruptcy procedure, provided they meet the requirements set out in the Law of the Republic of Kazakhstan “On Restoration of Solvency and Bankruptcy of Citizens of the Republic of Kazakhstan”.
- Information on the procedure for applying for out-of-court personal bankruptcy is available on the e-government portal egov.kz at the following link: https://egov.kz/cms/en/services/economics/pass_P1_mf
How will the single repayment schedule be created?
The single schedule will be created subject to the borrower’s total outstanding debt.
For borrowers under the general terms and conditions:
- if total outstanding debt is up to KZT 1 million, the maximum monthly payment will be KZT 84,000 over a period of 12 months;
- if total outstanding debt ranges from KZT 5 million to KZT 7 million, the maximum monthly payment will be KZT 117,000 over a period of 60 months.
For borrowers belonging to socially vulnerable groups and recipients of targeted social assistance, more favorable conditions apply:
- if total outstanding debt is up to KZT 1 million, the maximum monthly payment will be KZT 56,000 over a period of 18 months;
- if total outstanding debt ranges from KZT 5 million to KZT 7 million, the maximum monthly payment will be KZT 84,000 over a period of 84 months.
Contact number for consultations: +7 727 244 2254
FAQs on the Servicing of Loans with Overdue Debt of Individuals
Restructuring – changes to the terms of the Bank Loan Agreement, including extensions, the granting of deferrals or grace periods, changes to the repayment schedule, reductions in interest rates or repayment priorities, as well as the provision of additional credit facilities and other measures.
The Bank must notify the borrower, an individual, in writing, in the manner provided for in the Bank Loan Agreement, as well as via сommunication сhannels, of any default on financial obligations under the Bank Loan Agreement no later than ten calendar days from the date of the default
Phone numbers
+7 727 244 22 54
+7 727 244 30 30 (Option 3)
Short codes
Personal customers: 505 (Option 3)
Business customers: 605 (Option 3)
Personal customers: +7 747 111 1505 (Option 7)
Business customers: +7 747 111 1605 (Option 9)
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