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1. What is an Extrajudicial Transaction?

The company offers the acknowledgement of obligations and payment through an "Extrajudicial Transaction" to its clients in order to normalize the situation. The client is then committed to pay the debt generated by his/her consumption. This transaction does not refinance the debt, therefore interests and delays supported by law are applicable.

 

 

 

What are the requirements to be eligible for Credit facilities (Extrajudicial Transaction)?
The requirements are:

  • The person requesting the agreement must be the owner of the property.

Natural Person: DNI.

Legal Entity: DNI and Powers of Attorney of the Legal Representative

 

*In the case of a tenant or third party, a simple authorization from the owner of the property and a copy of the owner's DNI must be requested.

*In case the owner is deceased, the applicant must present the declaration of heirs or death certificate and sign an affidavit.

 

  • The client must have 50% of the total debt in cash to make the down payment and the balance will be paid in 3 installments maximum.

 

 

 

 

Can the autovalúo (Property Tax Appraisal) or a Certificate of Lot Possession replace the title deed?
The Property Tax Appraisal does not replace it, however the Certificate of Lot possession does replace the title deed, but only in the case of Shantytown or Settlement dwellers.

 

 

 

Why do I have to pay administrative expenses when I make an Extrajudicial Transaction?
Administrative expenses are paid only once and are derived from the costs incurred in by the Company to start an extrajudicial transaction.

 

 

 

Why is there a limit to make Extrajudicial Transactions?
In order to avoid the increase of delinquency, which would affect both the client and the Company given that debts rise due to interests and delays.
You can not carry out more than two Extrajudicial Transactions during a 12-month period.

 

 

 

When does an Extrajudicial Transaction lose validity?
Default of payment of the first installment, of one of the amortization quotas or installments agreed upon, and/or of the eventual charges. Likewise, inaccuracy or falseness in the content of any declaration or in the documentation provided by the client during or after negotiating this transaction will result in the client entering the common payment system (cut and connection removal) and that the appropriate balance has to be totally charged in the following bill.
If the installment is not paid upon the issuance of the following bill, the client must ask for another credit facility.