The procedure for the effective approach and relationship with consumers who are in payment difficulties.

EASY CREDIT

The consumer relations policy involves providing adequate information, as well as providing support to debtors who are in difficulty paying.

Any interaction between the creditor and the consumer, in relation to his payment difficulty, respects the confidentiality of any information related to the established contractual relationship. With a consumer in payment difficulty, a level of contact and communication is maintained proportional to the information requirements, and not excessive.

Consumers who are in difficulty paying are given support and the following information:

1. a) the number of payments not made or partially made;
2. b) the total amount of overdue payments;
3. c) costs associated with late payments;
4. d) the importance of the consumer’s cooperation with the creditor to resolve the situation.
5. e) information on the consequences of non-payment, including penalty interest and possible loss of property;
6. f)  information about the rights of the consumer in such situations.

Easy Credit 4 All IFN SA proposes to help those who, after contracting a loan, encountered problems in its development, ending up in situations where it was impossible to pay the installments or against whom the foreclosure procedure was initiated. The employees of the company do all the diligence to prevent the declaration of the anticipated maturity and the initiation of the debtor’s foreclosure procedures; in this sense, the information is communicated clearly and in simple language, in full transparency and with respect to the debtor, by using appropriate language and communication channels accessible to the debtor. Correct and complete information will be communicated to the debtor. The purpose of contacting the debtor will be to get the customer to comply with his contractual obligations and to find solutions in the event of the impossibility of repaying the loan according to the agreed payment schedule.

The debtor in payment delay will be sent notifications and payment communications depending on the days of delay.

Solutions offered by the lender may include:

 – total or partial refinancing of the credit agreement
 – extending the duration of the credit agreement;
 – postponing the payment of the full or partial amount for a period;
 – interest rate change;
 – consolidating more loans that can offer a longer credit term and a lower rate;
 – rescheduling of installments;
 – rate rescheduling;
 – credit conversion.

Thus, the employees develop, together with the borrowers, a debt payment plan, adapted to the borrower’s current income.

The solutions offered cannot include:

 – The upward modification of the interest, or as the case may be, the fixed interest rate, the introduction of commissions, as well as the introduction of new cost elements through additional documents drawn up for the granting of rescheduling, rescheduling, grace periods granted at the request of the debtor;

– It is in the interest of the client to notify the creditor as soon as possible of the intervention of the situation of financial difficulty (the parties will take into account the temporary or long-term nature of the causes of non-payment of installments or interest/payment obligations to the Company, as well as the capacity of the debtor to pay the outstanding amounts in a reasonable time);

– The creditor must clearly explain the full situation of the payment obligations owed to the debtor based on the credit agreement (the total value of the outstanding amounts, the days of delay, the remaining time until the full payment of the loan, interest and the amount of penalties for the delay at payment).

– Restructuring loans is not a right of the client but an agreement of will on the part of both parties, so that the creditor decides whether or not to restructure a loan;

– Any negotiation between creditor and debtor takes place on the principle of good faith, in order to find a constructive solution;

– The parties must communicate and inform each other about any relevant aspects;

– At the creditor’s request, the borrower must present the documents necessary to support his requests and all the information and/or supporting documents related to income or other situations involved, in a timely and accurate manner, to allow the creditor to correctly assess his financial situation;

– Restructuring solutions are not recommended if enforcement proceedings have already been initiated against the client by another creditor;

– The final restructuring plan will be established according to the circumstances of each individual case, starting from the internal rules and the creditor’s strategy;

– The creditor must respond with reasons, in writing, to the solution proposals formulated by the debtor regarding the making of payments;

– The restructuring proposals must be feasible and reasonable, formulated clearly and without ambiguities, so that the debtor fully understands the effects arising from them;

– The creditor will not initiate or continue legal proceedings, as long as the client complies with the conditions established for restructuring the loan.

Easy Credit 4 ALL IFN SA will carry out continuous monitoring of the company’s clients, in order to quickly identify debtors in payment difficulties, in order to prevent the accumulation of arrears.

In the event that a client is in payment difficulty, Easy Credit 4 ALL IFN SA will cooperate with him to establish the reasons for the occurrence of difficulties and to be able to take appropriate measures to resolve the situation and prevent its occurrence in the future.