OREANDA-NEWS. September 11, 2009. Within the scope of the Personal Credit Restructuring Programme, the Bank of Moscow has announced a special campaign starting from 1 September, 2009. The offer is addressed to borrowers of the Bank that are experiencing temporary difficulties in discharging their credit obligations to the Bank of Moscow.

During the term of the campaign, the Bank of Moscow will reduce the demands on borrowers in the following cases:

— if the client pays off in full any overdue debt (overdue debt on the principal and overdue interest) under a credit agreement for a term of over 90 days, the Bank of Moscow cancels all accrued fines and default interest;
— if the client has paid off in full any overdue debt on the principal and overdue interest, but is in debt with respect to accrued fines, the Bank of Moscow will cancel 80% of the accrued fines provided the client pays off the remaining 20%;
— if the client has not made any payments on the credit for a long time and the Bank of Moscow has had to go to court about this, within the scope of the campaign the Bank will cancel all fines accrued after the court ruling is issued; with the client paying off in full the debt in accordance with the court ruling.

The Bank of Moscow will also reduce the loan interest rate by 0.5 percentage points for a period of 6 months provided the borrower that has restructured the credit pays off part of it early, during the term of the campaign.

“By cancelling fines within the scope of this special campaign, we are assisting our borrowers that, for one reason or another, are encountering difficulties in paying off their credits”, commented Andrey Lapko, Vice-President of the Bank of Moscow.

Clients with relevant questions can receive advice by telephone from the Bank of Moscow’s special service for debt restructuring (for clients of the Bank in Moscow: +7 (495) 221-13-73, for clients in the regions of the Russian Federation: 8-800-200-23-00 (freephone).