I need an urgent advice. I worked in a New generation Bank as a full staff for 8yrs and I rose to the level of cash management officer. I had always worked very dilligently with full dedication to my job. In 2013, my Dad was critically ill and we needed to send him abroad and we needed money. I was not qualify to obtain a loan from the bank since I still had one running. I then approached a registered money-lending company ( from whom I had borrowed money in the past and pay back), who lent me N500,000.00 with a total interest of N160,000.00 making N660,000.00 for 6months. Meaning I will be repaying N110,000.00 monthly for 6months. That was on October, 2013. I was to commence repayment on October 26th. The lender did not take any physical collateral, they only took a guarantee from one of my junior coleaque, a lady who was very loyal to me. She issued an undated cheque signed, why I gave 6 posted cheque to be presented for repayment on salary day. Of course, my salary could comfortably accomodate the debt.

On 17th of October, I authorized a wrong transaction that resulted in a loss of USD15,000.00 to the bank, and concidentally, it was posted by this same Teller. I was summoned to Head-office on 19th of October, my Account locked, kept in Head-office till January 2014 and refused to pay salary, eventually, I was sacked in the first week of January, 2014. The lady was also summoned to Head office and suspended for a month but resumed back.

The bank paid me no entitlement and since then, I have been on the street. I have a family to run. I was in the system till January 7th 2014, yet the last salary received was that of October, 2013. As a result of this, I could not meet my obligation to my lender. They contacted me through phone and I explained the situation of things to them.

Since I left the bank in 2014 January, Life has been seriously unbearable. Infact, myself and my family have gone through serious hunger! I had tried to get another job, but to no avail. I had try businesses, but for lack of capital and other factors, it has not really work. I have been leaving like a pauper. My wife is not engaged. She has HND in Accounting, , I discovered she is not employable. I don't know why I did not notice that through courtship. I guess I was blinded by love. I wish to help her overcome the challenge, she does not seem to see it as a problem and besides, she beleive there is nothing she can do to solve it. The problem is that she cannot read. i mean she cannot read at all. I still wonder how she managed to graduate. She is a very beautiful and look classical and executive. She cannot also converse in English. She cannot write.

Now to the loan issue, because of my financial situation, I have not be able to repay anything from the loan. The company keeps calculating and adding interest on monthly basis and they stopped contacting me. They wrote a stinker to the bank regarding my guarantor. It was written to HR and HR passed it to the branch manager. I was called and wrote a letter to the lender to give me a little time, yet they did not stop harrasing the young lady and blackmailing her. Last month, they were in her office and they had to force N40,000.00 out of her. This is a lady on a salary of N120,000.00. She cried as she paid the money. This month again, they will be going to her office tommorrow, to force money out of her. Meanwhile she had a shortage in the course of the month, she had to pay 60,000.00 from her own money. I am jusy tired of the whole stuff. Now, they are claiming the whole outstanding amount now is N1.2million because of the interest they have been calculating.

Meanwhile, one of the newly appointed Honourables in the national assembly just offered me an appointment as a Legislative assistant, I never know what to expect, but I understand their salary is not much.

Pllease, I need your candid advise on how to solve the whole issue, most especially that it should not cost the lady that assisted my out of trust her job and embarrasment at work and also how I can handle therepayment considering there new intimidating figure and they keep mounting interest on monthly basis. Thank you.

Hum, this is serous. May God help and bail you out

Amen. Thanks bros. Please I need urgent advice on how to handle the matter.

santakris:
Hum, this is serous. May God help and bail you out

Don't you have a property you can use as collateral and find a way to stretch out the payment?
I feel really sorry for that lady since they keep bugging her.

This is a serious issue

"My wife is not engaged. She has HND in Accounting, , I discovered she is not employable. I don't know why I did not notice that through courtship. I guess I was blinded by love. I wish to help her overcome the challenge, she does not seem to see it as a problem and besides, she believe there is nothing she can do to solve it. The problem is that she cannot read. i mean she cannot read at all. I still wonder how she managed to graduate. She is a very beautiful and look classical and executive. She cannot also converse in English. She cannot write".


Sorry to hear this...the government of Buhari would stabilise this situation.
Jobs would be created to act as cushion


cc: lalasticlala

Epele ooo. I can feel your pains bro.

Please look for some valuables to sell immediately before your new salary, which is not yet certain to help the lady that assisted you.
Sit your wife down and make she see reasons why you people must do something now.

I mean, she will have some good stuffs like:
1. Gold and Silver jewelries,
2. Good Hollandise and George Wrappers
3. Some good cash from all the monies u v been giving to her.
4. Let her meet her good friends for help (no matter how small)
5. You too should talk to some of your good friends (no matter how small)
so that u can start paying in something. Once u start showing up, the embarrassment on the lady will stop.
Your lender is aggressive because nothing is coming out from u (something should come out no matter how little).

If your wife fail to assist, please gather all the things that give you comfort at home and sell; starting with the electronics, auto mobile and furniture (including your bed) so that she will feel and know the gravity of what you explained to she.

And for the job side, please bro start any daily cash-giving business (I know it is very hard, but you and your wife should try to swallow pride here and save that lady's job. If i am your wife, i would have started a petty cash business for immediate support since i cannot be employed.
And on your own, when next you get job, try to learn from your past by setting aside bulk of your salary for the rainy days since you are the sole breadwinner. Also try to figure out what your wife can lay her hands on in order to support (at least for her daily needs to enable u save).

Please do not blame your wife now for her not being able to read or write because you did not marry she today; after-all you added to her problems by spoiling she with wealth instead of encouraging and teaching she how to be self-reliant because from your above post, it is well understood that she is now a lazy woman and cannot adapt to her present status.

Please forgive me for the way i sound. Just my 2 cents.

This is serious ooo. I no envy you at all, but most pitied is the chic that gave u a guarantee. I was able to deduce certain fundamentals from your story. (A) the total loan that is suppose 2 be N660k is now abt N1.2mill due to accumulated interest and default charges (B) Your guarantor is put under intense pressure and intimidation and her job is treatened. (3) Your wife has no capacity to help-out. Let me take it one after the other. Increase in total indebtedness: the lender has eevery right 2 charge 4 default and also accumulate interst on ur failure to repay. However, by the rule of prudential guideline, there is a level a debt gets 2 under age classification when d lender is expected 2 suspend mounting up interest. You need to raise his issue with ur lender during negotiation as I believe that they are aware u are jobless. You can negotiate for the accumulated interest. If they know u are serious and have some bulky money 2 drop, they will bulge. Meanwhile, ask them to stop accumulating interest. You may wish to go with a lawyer after raising some fund though. I will talk on others later.

Sincerely everybody has said it all,you just need God,but please think deep,God will make a way in Jesus name

@ Poster, since you did not resign from your job but you were let go off, you can claim up to i think it is 25% of your pension. I think it is 4 months after you are asked to leave that you can claim the money. Please find out. Every little helps.

blank:
@ Poster, since you did not resign from your job but you were let go off, you can claim up to i think it is 50% of your pension. I think it is 3 or 6 months after you are asked to leave that you can claim the money. Please find out. Every little helps.

Gbam. Even my mind didn't go here as I read his

Thank you so much. I actually got to know that the amount accesible is 25% after 6 months of disengagement. I have written my PFA with all document submitted. My PFA has written my ex-employer for confirmation of my status, but according to my PFA, my ex-employer has failed to confirm to them.

I wrote my ex-employer asking them to respond to my PFA's confirmation, but they are not doing anything. its just frustrating. I even called PENCOM to report them (Ex-employer and PFA) but the issue is still pending.

blank:
@ Poster, since you did not resign from your job but you were let go off, you can claim up to i think it is 50% of your pension. I think it is 3 or 6 months after you are asked to leave that you can claim the money. Please find out. Every little helps.

This is so sad op. Is there no one you can talk to? Maybe a politian or church member or pastor? They can help you pay off the money you owe minus d interest of course and you can pay back gradually at your pace when the job comes . the same happened to my former boss, his church ended up paying d loan back to the bank and he paysvd church gradually. May God help you. Amen

now i understand y colleagues in d bank transferred their salary to oda bank as salary dey enter. bros e go better. bt u didnt need to bash ur wife haba

you mean your wife that's a polytechnic graduate can neither read nor write,

wow!!!! God will help you, talk to people and mount more pressure on your formal employer to confirm your PF whatever

betafuture:
I need an urgent advice. I worked in a New generation Bank as a full staff for 8yrs and I rose to the level of cash management officer. I had always worked very dilligently with full dedication to my job. In 2013, my Dad was critically ill and we needed to send him abroad and we needed money. I was not qualify to obtain a loan from the bank since I still had one running. I then approached a registered money-lending company ( from whom I had borrowed money in the past and pay back), who lent me N500,000.00 with a total interest of N160,000.00 making N660,000.00 for 6months. Meaning I will be repaying N110,000.00 monthly for 6months. That was on October, 2013. I was to commence repayment on October 26th. The lender did not take any physical collateral, they only took a guarantee from one of my junior coleaque, a lady who was very loyal to me. She issued an undated cheque signed, why I gave 6 posted cheque to be presented for repayment on salary day. Of course, my salary could comfortably accomodate the debt.

On 17th of October, I authorized a wrong transaction that resulted in a loss of USD15,000.00 to the bank, and concidentally, it was posted by this same Teller. I was summoned to Head-office on 19th of October, my Account locked, kept in Head-office till January 2014 and refused to pay salary, eventually, I was sacked in the first week of January, 2014. The lady was also summoned to Head office and suspended for a month but resumed back.

The bank paid me no entitlement and since then, I have been on the street. I have a family to run. I was in the system till January 7th 2014, yet the last salary received was that of October, 2013. As a result of this, I could not meet my obligation to my lender. They contacted me through phone and I explained the situation of things to them.

Since I left the bank in 2014 January, Life has been seriously unbearable. Infact, myself and my family have gone through serious hunger! I had tried to get another job, but to no avail. I had try businesses, but for lack of capital and other factors, it has not really work. I have been leaving like a pauper. My wife is not engaged. She has HND in Accounting, , I discovered she is not employable. I don't know why I did not notice that through courtship. I guess I was blinded by love. I wish to help her overcome the challenge, she does not seem to see it as a problem and besides, she beleive there is nothing she can do to solve it. The problem is that she cannot read. i mean she cannot read at all. I still wonder how she managed to graduate. She is a very beautiful and look classical and executive. She cannot also converse in English. She cannot write.

Now to the loan issue, because of my financial situation, I have not be able to repay anything from the loan. The company keeps calculating and adding interest on monthly basis and they stopped contacting me. They wrote a stinker to the bank regarding my guarantor. It was written to HR and HR passed it to the branch manager. I was called and wrote a letter to the lender to give me a little time, yet they did not stop harrasing the young lady and blackmailing her. Last month, they were in her office and they had to force N40,000.00 out of her. This is a lady on a salary of N120,000.00. She cried as she paid the money. This month again, they will be going to her office tommorrow, to force money out of her. Meanwhile she had a shortage in the course of the month, she had to pay 60,000.00 from her own money. I am jusy tired of the whole stuff. Now, they are claiming the whole outstanding amount now is N1.2million because of the interest they have been calculating.

Meanwhile, one of the newly appointed Honourables in the national assembly just offered me an appointment as a Legislative assistant, I never know what to expect, but I understand their salary is not much.

Pllease, I need your candid advise on how to solve the whole issue, most especially that it should not cost the lady that assisted my out of trust her job and embarrasment at work and also how I can handle therepayment considering there new intimidating figure and they keep mounting interest on monthly basis. Thank you.

What a pity!
Bro hope u have resolved the issue?

Coolgent:

What a pity!
Bro hope u have resolved the issue?

Yes... Read his last post to see how he got over it. this is so similar to my case. I pray God sees me through.

GeeConn:
Yes... Read his last post to see how he got over it. this is so similar to my case. I pray God sees me through.

Ok.
May God see you through.
Share it with nairaland brothers who know someone may assist

Coolgent:

Ok.
May God see you through.
Share it with nairaland brothers who know someone may assist

Yes, I will surely do

Hello Op!

Yes, you found yourself in some funny shit but just hang on and keep doing the right thing, thank God you got another job already.

I really feel for that young lady who stood for you but you need to compensate her as soon as the whole issue is resolved.

Finally, trashing your wife on social media wasn't a good one as far as I'm concerned. You ignored subjecting her to some activities that would have upgraded her both in speech and writing.