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When the Loan Can Be Restructured

Technically, Restructuring of an existing loan is provision of the Borrower with a new loan that fully covers outstanding balance on an existing active or past due loan.

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Restructuring is used when it is necessary to change the loan terms to make it easier to pay back and help the Borrower to avoid defaulting on current debts by negotiating reduced interest rates.

Loan cannot be restructured if there have been made payments for future installments or if a promise to pay with a date in the future has been registered in the system.

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How to Restructure

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Restructuring can be performed by Back-Office users on the Servicing and Collection workplaces. Only the user to whom the loan is assigned can perform the Restructuring.

Restructuring Steps in the UI

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a Loan

Go to the Payments tab of the loan details page on the corresponding workplace (Servicing for active loans and Collection for past-due loans). If this loan can be restructured, the “Restructure” button is available. order to initiate the Restructuring of an active loan, go to the Servicing workplace.

In order to initiate the Restructuring of a past-due loan, go to the Collection workplace.

Open the loan (make sure it is assigned to you). In the “Payments” tab, click the Click the “Restructure” button.

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At the top of the emerged window, you will see the current payment and total amount of the debt to be restructured.

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