Frequently Asked Questions
Why is the Bank of Cyprus transferring credit facilities to Gordian Holdings Limited?
While this question should be more properly answered by Bank of Cyprus, we understand that the transfer of loans to Gordian Holdings Limited is being undertaken as part of the Bank of Cyprus's ongoing efforts to reduce its legacy NPE exposures in line with its stated commercial objectives and regulatory requirements.
What does this mean for me?
From the date of the transfer, all of your obligations in respect of any debt previously due to Bank of Cyprus will thereafter be due to Gordian Holdings Limited. The terms and conditions of your debt will be unaffected and will continue to apply. You can continue to make loan repayments at any Bank of Cyprus branch to the account details provided in the “Hello Letter” or as may be communicated to you in the future.
I have agreed a restructure with Bank of Cyprus - what will happen to this agreement post transfer?
Formal, binding restructuring agreements will be unaffected by the transfer and will continue with Gordian Holdings Limited. Gordian Holdings Limited is regulated by the Central Bank of Cyprus and all existing consumer protections will remain in place following the transfer.
Can I pay off my debt in advance of the transfer?
You can pay off your debt at any time by contacting us at firstname.lastname@example.org. Our credit management team will inform you of the redemption amount and details of the steps involved in paying off your outstanding balance.
I would like to speak to someone about my debt, is this possible?
If you would like to speak to someone in person, please contact us on our dedicated phone line at +357 800 04321 or by email at email@example.com and we would be happy to arrange a call with one of our dedicated credit management professionals.
Will my monthly loan repayment remain the same after the transfer?
Your monthly payment will continue in line with your current terms and conditions, unless any arrangement which you may have had with the bank has expired or there is an interest rate change applicable to your debt.
What do I do if my contact details have changed?
It is important to let us know if your contact information has changed since you signed up to your credit facility or since you last updated Bank of Cyprus your correspondence address or mobile phone number. In particular, if you are no longer a Cypriot resident and are resident in another jurisdiction, there may be withholding tax implications under the laws of that jurisdiction in relation to the payment of interest under your debt. You should seek independent financial advice if this applies to you. To update your details you can email at firstname.lastname@example.org