ASFI Announces Measures to Facilitate Credit Refinancing in Bolivia
The Financial System Supervisory Authority (ASFI) has reported that borrowers affected by various situations have the right to request a review of their debts. This measure seeks to offer financial relief to individuals who are having difficulty paying their bank loans. According to the institution, it is not necessary to create new rules for this benefit to take effect immediately.
The process allows clients to request an individual evaluation of their current economic situation. Banks must analyze each case to determine if the client needs a refinancing or a rescheduling of their loan. The main objective is to adjust the installments and payment terms to each person's actual capacity, allowing them to continue meeting their financial obligations.
ASFI clarified that the mechanisms to help debtors already exist within current regulations. Therefore, financial entities can apply these solutions without waiting for additional regulations. This includes options such as extending the contract term or modifying the credit conditions so that monthly installments are lower and easier for the user to pay.
These measures not only help citizens but also protect the stability of the national banking system. By facilitating debt payment, it prevents an increase in the number of unpaid loans in the system. The authority recommends that interested parties approach their bank as soon as possible to submit their application and learn about the specific requirements of each entity.
In conclusion, this initiative represents significant support for the economy of families facing financial difficulties. ASFI will closely monitor that banks comply with these provisions and offer adequate service to all users seeking to improve their financial situation through these relief mechanisms.