To receive support for repaying defaulted loans, after clicking the “Continue” button ((to view the English version use the browser's translation tool), you must:

• Select the “Overcoming a Difficult Life Situation” section,
• On the opened page, choose “Bad Loans Event”,
• Complete digital identification (YesEm Identification),
• Enter your phone number and email address,
• Check the two boxes confirming that the information provided is accurate,
• Confirm and submit the application.

A notification of approval or rejection will appear on the screen immediately after completing these steps.

Eligibility Criteria
To qualify for support:

• The loan must have been classified as non-performing for at least 3 years,
• The principal amount of the loan must not exceed 1 million AMD,
• The applicant must be formally employed,
• The applicant must not already be a beneficiary of this program.

Types and Amount of Support
If approved, support will be provided as follows:

• The applicant’s income tax will be redirected to repay the loan,
• Instead of 50%, only 20% of the salary will be subject to mandatory garnishment,
• Banks will waive up to 80% of penalties and fines accrued on the loan.

Provision Timeline and Procedure
Applications are either approved or rejected immediately based on the information provided and data retrieved from relevant databases.

If inconsistencies are found, the application is rejected.

If no discrepancies are found, the application is approved, and the applicant is notified via email.

Support begins on the 1st of the month following the application date and is provided for up to 24 months.

Reference to Legislation
RA Government Decision No. 1990-L, dated December 12, 2024
The decision can be found at arlis.am