Do You Need to Submit a Request to the Bank Before Bankruptcy in Kazakhstan?

Do You Need to Contact the Bank Before Bankruptcy in Kazakhstan?

Find out whether a debtor must submit a request to a bank or microfinance organization before filing for personal bankruptcy in Kazakhstan. Debt settlement, restructuring, documents, and common mistakes.

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Short answer

Yes, in most cases a debtor should submit a written request to the bank or microfinance organization before filing for bankruptcy.

This request proves that the debtor tried to settle the debt before bankruptcy by asking for restructuring, payment deferral, a new payment schedule, reduction of penalties, or another repayment option.

However, there is an important exception. For some bank loans and microloans concluded before January 1, 2025, the requirement for prior debt settlement may not apply. Special rules may also apply if the debt has not been repaid for more than 5 years.

Why is a request to the bank needed before bankruptcy?

A written request to the bank or microfinance organization is needed to confirm that the debtor attempted to settle the debt. This can be an important document when applying for out-of-court bankruptcy, court bankruptcy, or solvency restoration.

The authority or court may check whether the debtor tried to resolve the issue with the creditor before bankruptcy. If there was no such request, there may be a risk of refusal or return of the application.

In simple terms, a request to the bank is not just paperwork. It is evidence of the debtor’s good faith.

When is the request especially important?

A request to the bank or microfinance organization is especially important if:

• the debt is owed to a bank;
• the debt is owed to a microfinance organization;
• payments have not been made for a long time;
• the debtor plans to apply for out-of-court bankruptcy;
• the debtor plans to apply for court bankruptcy;
• solvency restoration is being considered;
• the debt has been transferred to a collection agency;
• enforcement proceedings have already been started by a private bailiff.

Before filing for bankruptcy, it is advisable to have written proof that the debtor contacted the creditor.

What can you ask the bank for?

In the request, the debtor may ask for:

• debt restructuring;
• a new payment schedule;
• reduction of the monthly payment;
• payment deferral;
• reduction or cancellation of penalties and fines;
• reduction of the interest rate;
• temporary suspension of collection;
• a new repayment plan.

The request should be specific. It is better not to simply write “please help me,” but to clearly state what kind of relief is requested.

What should be included in the request?

The request should include:

• debtor’s full name;
• individual identification number;
• loan agreement number;
• date of the loan agreement;
• amount of debt;
• reason why the debtor cannot pay;
• income information;
• family situation;
• dependents, if any;
• information about other debts;
• a specific request to the bank or microfinance organization.

For example:

“Due to the deterioration of my financial situation, I ask you to consider restructuring my debt, changing the payment schedule, reducing the monthly payment, and reducing or cancelling accrued penalties and fines.”

What documents should be attached?

The debtor may attach:

• copy of identity document;
• loan agreement;
• payment schedule;
• debt certificate;
• income certificate;
• documents confirming job loss;
• medical documents, if health issues are the reason;
• children’s birth certificates;
• documents about other debts;
• private bailiff documents, if enforcement proceedings exist;
• bank statements.

The more evidence is attached, the stronger the debtor’s position will be.

How should the request be submitted?

The request should be submitted in a way that leaves proof of delivery or acceptance.

Possible methods include:

• bank branch with incoming registration number;
• bank mobile application;
• official bank website;
• official bank email;
• registered mail;
• eOtinish, if applicable;
• microfinance organization office or official communication channel.

WhatsApp should only be used as an additional communication tool. For bankruptcy, the debtor needs official proof, not just “I texted the manager.”

What if the bank does not respond?

If the bank or microfinance organization does not respond, the debtor should keep proof that the request was submitted. This may include:

• incoming registration number;
• screenshot from the mobile app;
• postal receipt;
• electronic confirmation;
• copy of the request;
• bank acceptance stamp.

Even if there is no response, the fact that the request was submitted may be important when filing for bankruptcy.

What if the bank refuses?

If the bank refuses to restructure the debt or provide another settlement option, the debtor should keep the written refusal. This refusal may be used as evidence that the debtor tried to settle the debt before bankruptcy, but the creditor did not agree.

After receiving a refusal, the debtor may prepare documents for bankruptcy or solvency restoration.

Can you file for bankruptcy without contacting the bank?

Sometimes yes, but it depends on the specific situation: the date of the loan agreement, the length of overdue payments, the type of creditor, the amount of debt, and other legal conditions.

If prior settlement is required by law but the debtor did not contact the bank, the bankruptcy application may be refused or returned. Therefore, it is safer to send a request to the creditor in advance.

If the loan was concluded before January 1, 2025

For bank loans and microloans concluded before January 1, 2025, the requirement for prior settlement may not apply in some cases. However, in practice it is still advisable to send a request to the bank or microfinance organization.

This shows the debtor’s good faith and reduces the risk of formal objections during the review of the bankruptcy application.

If the debt is older than 5 years

If the debt has not been repaid for more than 5 years, special bankruptcy conditions may apply. In some cases, the bank’s or microfinance organization’s refusal to settle the debt may not be required.

However, before filing, it is necessary to check the date of the last payment, the amount of debt, the creditor, and whether enforcement proceedings exist.

Conclusion

Before bankruptcy, in most cases, a debtor should submit a written request to the bank or microfinance organization. This confirms that the debtor has completed or attempted to complete the debt settlement procedure.

The request may include restructuring, payment deferral, a new payment schedule, and reduction of penalties or fines. The most important thing is to submit the request officially and keep proof.

Even if prior settlement is not required for a specific loan, contacting the creditor in writing often strengthens the debtor’s position.

FAQ

Do I need to contact the bank before bankruptcy?

Yes, in most cases. This helps prove that the debtor attempted debt settlement before bankruptcy.

What should I ask the bank for?

You may ask for restructuring, payment deferral, reduced monthly payments, cancellation or reduction of penalties, or a new repayment schedule.

Can I submit the request through the bank’s mobile app?

Yes, if the app allows an official request and provides proof of submission.

What if the bank does not respond?

You should keep proof that the request was submitted. Lack of response may also be relevant in the bankruptcy process.

If the bank refuses, can I file for bankruptcy?

Yes. A bank’s refusal may be used as evidence that the debtor tried to settle the debt before bankruptcy.

Do I need to submit a request to a microfinance organization?

Yes, if the debt is owed to a microfinance organization, the request should be sent to that organization.

Can I submit the request through WhatsApp?

It is better not to rely only on WhatsApp. Bankruptcy requires official proof of submission.

If the loan was issued before January 1, 2025, is the request mandatory?

In some cases, prior settlement may not be required, but submitting a request is still advisable to strengthen the debtor’s position.