Provides Benefits To Debtors Of The Cra Credit With Warranty To State And Modifies The Law Nâ ° 20.027

Original Language Title: OTORGA BENEFICIOS A LOS DEUDORES DEL CRÉDITO CON GARANTÍA ESTATAL Y MODIFICA LA LEY N° 20.027

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"Article 1.-the debtor of loans with State guarantee granted pursuant to law N ° 20.027, laying down rules for the financing of higher education, which by December 31, 2011 have agreed to credit system and obtained the State guarantee referred to in this law, will benefit by a reduction in the agreed monthly fee their credit.
This benefit will be effective through an agreed quotas, tax charge co-pay. This copayment will be equivalent to the difference to occur between the fee agreed on the basis of the rates of the loans agreed by December 31, 2011 with the institution that gave credit and which should effectively pay the debtor considering a rate of 2.0% per annum of real interest on the balance owed.
In case that the value of the resulting fee, once applied the provisions of the preceding paragraph, is greater than an amount equal to 10% of the average of the total income that have obtained during the last twelve months, the debtor may elect to pay the latter amount. This benefit is valid for six months and can be renewed, which must again comply with the obligation of information described in the following subsection. In this case, the Treasury will pay creditor institutions the sum missing to find the total of the share. This difference must not be reimbursed by the debtor to the Treasury and will not be considered income for all legal purposes.
Borrowers who opt for this alternative must prove the amount of its income through an affidavit, which will accompany the respective annual declaration of income tax and, where appropriate, the certificate of their employers or remuneration, as well as any other documents that will be given to the effect to Commission administrator of the credit system for higher education , in compliance with the regulation. Delivery of this background the Commission shall entitle it to inform the creditor institutions the amount that shall be paid to each debtor by contingent to the entry fee.
The Commission may be contrasted with the internal revenue service the veracity of the information provided by borrowers. If you determine that the debtor missed the truth in the information provided, you can choose not to benefit established in the second paragraph of this article. The foregoing is without prejudice to the criminal liability that corresponds to him pursuant to article 210 of the Penal Code.
The General Treasury of the Republic will require the delivery of the necessary background for the co-payment that corresponds to the creditor financial institutions to Commission administrator of the credit system for higher education.
However, with respect to claims acquired by the Treasury in accordance with the provisions of article 5 of law N ° 20.027, the institution responsible for the collection must deduct the amount of the co-payment from the monthly respective, leaving the General Treasury of the Republic empowered to carry out the reflex accounting corresponding.
The benefits referred to in this article will begin to rule as of January 1, 2012 and shall not apply while borrowers are in arrears.
The resources needed to finance the benefits set out in this article will include annually in the budget Act.