Research on the date for credit card debt restructuring has commenced. The Banking Regulation and Supervision Agency (BRSA) will provide the opportunity for individuals to restructure their debts for up to 60 months. Individuals who are unable to pay the minimum amount, and have a credit card limit of 50 thousand liras or more, are investigating the start date of the restructuring by banks. So, when will credit card debt restructuring take place, and who will benefit from it?The date when credit card debt restructuring processes will begin, as announced by the BRSA, has started to be on the agenda for many individuals struggling to repay their credit card debts. Individuals with credit card limits of 50 thousand liras or more will be able to have their minimum payment amounts restructured into installments. So, when will credit card debt restructuring take place, and who will benefit from it?While the maximum contractual interest rates applied to individual credit cards vary according to the reference rate depending on the credit card’s periodic debt, the determined rates will be announced on October 24th and will come into effect on November 1st.Individual credit card debts can be restructured for up to 60 months. Those unable to pay the minimum amount of their periodic debts will be able to installment their existing credit card balances over 60 months. The installment amount for each month will be added to the minimum payment amount of that month.In line with the BRSA’s steps, the Central Bank of the Republic of Turkey (CBRT) has differentiated the maximum contractual interest rates applied to individual credit cards according to the reference rate based on the credit card’s periodic debt. The determined rates will be announced on October 24th and will come into effect on November 1st.In case the reference rate remains stable, the maximum contractual interest rates will be determined as:* 3.50% for credit cards with periodic debts below 25 thousand liras,* 4.25% for credit cards with periodic debts between 25 thousand and 150 thousand liras,* 4.75% for credit cards with periodic debts above 150 thousand liras.The maximum contractual interest rate set for cash withdrawals or transactions on credit cards remained fixed at 5%.