UCB Consumer Protection Program
The Consumer Protection Program at Universal Capital Bank is a set of measures and procedures that the bank applies to protect the rights and provide support to consumers who have difficulties in paying off credit obligations. The aim of the program is to facilitate the settlement of obligations and to prevent the initiation of enforcement proceedings when it is possible to find an adequate solution.
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Method of filing a claim
The consumer can apply for the approval of relief measures in the repayment of credit obligations by filling out the appropriate form. The application can be submitted:
- Letters of Demand
electronically by sending a request to e-mail kreditifl@ucbank.me
The claim may relate to one or more loans.
Conditions for granting benefits
The consumer may apply for the approval of relief measures if, during the repayment of the loan, there has been an unforeseen change in financial or life circumstances that affects his ability to settle obligations in an orderly manner such as:
a significant decrease in income,
loss of work,
severe illness of the client and severe injury leading to impairment of working capacity.
Other essential circumstances that may affect payment difficulties are:
severe illness or death of spouses, as well as divorce if the spouses were in a co-debtor relationship.
When deciding on relief measures, the bank takes into account the personal circumstances of the consumer, his interests, rights, and the ability to further repay credit obligations.
Measures to facilitate the repayment of credit obligations
In accordance with the internal rules and assessment of the financial situation of the consumer, the bank may offer one or more of the following measures:
full or partial refinancing of the loan
changing the terms of the loan agreement, including extending the repayment period or changing the type of loan
deferment of payment of principal, interest or individual loan installments for a certain period
interest rate reduction
temporary delay in the repayment of the loan during which default interest is not accrued on overdue obligations, except for regular interest on the remaining principal
partial repayment of debt
partial write-off or consolidation of credit obligations
other measures in accordance with the individual assessment of the bank.
In the case of credit card debt or on the basis of permissible or unauthorized overdraft on the account, the bank may offer to repay the debt in up to 12 monthly installments at an interest rate equal to half of the agreed interest rate.
Making a decision on request
The bank decides on the consumer's request within 30 days from the date of receipt of the request and notifies him of the decision made in writing, in paper or electronic form.
In case of refusal of the application, the bank will inform the consumer about the reasons for the refusal and inform him about the possibility of filing an objection.
Right to object
The consumer has the right to file a complaint with the relevant commission of the bank in the following cases:
if his application for the granting of relief measures is refused
if the bank does not make a decision within 30 days from the date of receipt of the application
The objection is filed within 10 days from the date of receipt of the decision or from the date of the expiration of the decision period.
Filing a complaint is possible in person at a bank branch or via e-mail address: prigovori@ucbank.me
