New SBS conditions for debt rescheduling

In a statement issued by the Superintendency of Banking and Insurance it was announced that companies in the financial system now had the option of rescheduling loans to debtors, given the new targeted quarantine.

What are the new conditions of the SBS?

new sbs conditions

In the aforementioned office, the SBS authorizes massive rescheduling, an action that had already been carried out previously, in 2020. But what are these new conditions? We will tell you about them below.

Massive modification of credit conditions

modifications of credit conditions

With the new provision of the SBS, financial institutions can modify the conditions of credits or loans on a massive scale. This without the need to notify users of such changes.

However, users can revert these modifications if they deem it appropriate. It is important to add that not all users are affected by these modifications, since those do not include those who have not yet paid the first installment of their credit.

Payment schedules can be extended for up to three months

In addition, users are offered other facilities, for example, the reduction of fees; as well as grace periods.

payment schedules

Individual rescheduling can also be accessed

individual rescheduling

For this, each user must submit their request; Thus, the corresponding entity will evaluate your case and will be able to see if it qualifies for a rescheduling.

Who can benefit from the rescheduling program?

According to the SBS publication, people will be able to benefit from rescheduling even if they have already rescheduled their debts. The term to qualify for this program has been extended until March 31, which applies to both consumer, personal, mortgage, vehicle and MYPES loans.

It is important to make sure that the bank with which the debt is owed has accepted the law for rescheduling debts with State guarantee. Currently there are 22 financial entities that have accepted the debt rescheduling law, among them, BCP, BBVA, Interbank, Compartamos, CM Piura, CM Sullana, Caja Raíz, among others.

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