The Arrears Management Process
In accordance with the Code, Gordian Holdings Limited has introduced a process designed to assist our customers who are in arrears with their loan repayments or at risk of going into arrears, to find a resolution for them. Customer engagement is central to this Arrears management process. The process includes the following steps:
1. Communication: Communication between you, the borrower and Gordian Holdings as our lender, for us to get a better understanding of your current financial difficulties and to give you a better understanding of the Arrears Management Process.
2. Financial information: In order for us to review our circumstances and assess of there is a resolution available to you, we need a good understanding of your current finances. Please refer to the section on Required Financial Information below for details of what is required.
3. Assess the financial information: Your Responsible Officer at Gordian Holdings will do a through our review of your loan and your circumstances to assess if there is an appropriate short-term or long-term resolution for you.
4. Propose restructuring solutions: Having reviewed your circumstances your Responsible Officer will identify if there is an appropriate, sustainable solution for your loan.
5. Communicate the restructuring proposal: Our proposed resolution will be communicated to you in writing. Nothing is done or agreed without your approval however, so you will need to agree to the proposed arrangement or change.
Your Responsible Officer is available to assess your financial circumstances and develop a potential restructuring solution for your loan. In order to request a review under the Arrears Management Process, please promptly submit the document ‘Personal Financial Statement’ at the link below. Please send the completed form to your Responsible Officer in order to complete a financial assessment and assess restructuring options.
The Completed form should be sent to your Responsible Officer at the address below:
Gordian Holdings Limited
20 Costis Palamas street
Aspelia Court
2nd floor
1096 Nicosia
Cyprus
Required Financial Information:
For borrowers who are natural persons:
- A completed Personal Financial Statement (“PFS”), Download PFS
- Additional supporting information and evidence of financial position as requested by your Responsible Officer.
For borrowers who are legal persons:
- Audited financial statements (or management accounts if audited financial statements are not available)
- Additional supporting information and evidence of financial position as requested by your Responsible Officer
Credit Reference Agency
Gordian Holdings Limited is obliged to report missed loan repayments to Artemis Bank Information Systems Ltd (Artemis) and this may affect your credit rating, which may impact your ability to get credit in the future.
Appeals
You have additional rights under this process, these include the right to submit an appeal to our appeals committee.
To submit an appeal, please send a request in writing to:
The Appeals Committee
Gordian Holdings Limited
20 Costis Palamas street
Aspelia Court
2nd floor
1096 Nicosia
Cyprus