Congress proposes rescheduling credit payments for a minimum term of 9 months

Congressmen Arturo Alegría and Eduardo Castillo, from the bench people forcepropose to establish extraordinary measures to reschedule credit payments of natural persons and mypes that have been financially affected by the declarations of the state of national emergency as a result of natural disasters and social conflicts, registered since December 7, 2022.

The PL 4525 proposes that the companies of the financial system can reprogram the loans in different modalities, such as the reduction of the interest rate, extension of payment terms and postpone the installments of the following credits: consumption, personal, mortgage for housing, vehicles and mypes.

A minimum term of nine months is available for the rescheduling of mortgage loans and for mypes. Entities of the financial system can only charge monthly interest if it exceeds 50% of the amount per month of the installment, for which reason readjustments in reference interest rates not established with the debtor before the approval of the regulation are prohibited.

“The economic impact of the passage of the cyclone Yaku, in the middle of the rainy season in the north of the country, has so far left 61 dead, 12,200 homeless and 1,326 homes destroyed. The economic losses have been estimated at US$4,000 million dollars,” the document states.

The initiative was presented on Tuesday, March 21, and must be evaluated by the congressional committees before going to plenary for debate and voting.