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Nairaland Forum / Nairaland / General / Crime / Does A Creditor Have The Right To Seize A Debtor's Property? (339 Views)
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Does A Creditor Have The Right To Seize A Debtor's Property? by irririchris(m): 12:45pm On Apr 12, 2022 |
Some microfinance officials were seen whisking off their debtor's properties. Some of the items were: a mini deep freezer, furnitures, 6kg gas cylinder, etc.. To the Learned, my question is: Does a creditor have the right to seize a debtor's property without obtaining a court order? Sorry, video too large to be included.
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Re: Does A Creditor Have The Right To Seize A Debtor's Property? by railone(m): 12:47pm On Apr 12, 2022 |
Depends on the terms of agreement when the loan was disbursed 1 Like |
Re: Does A Creditor Have The Right To Seize A Debtor's Property? by HELLASJ(m): 1:38pm On Apr 12, 2022 |
Depends on terms of contract, if there's none, then he has to get court permission to do that. 1 Like |
Re: Does A Creditor Have The Right To Seize A Debtor's Property? by Nobody: 2:04pm On Apr 12, 2022 |
irririchris:no. They may be sued for theft, it wasn't a part of the arrangement, besides, no full Proof linking the props to ownership by debtor |
Re: Does A Creditor Have The Right To Seize A Debtor's Property? by MrBrownJay1(m): 4:00pm On Apr 12, 2022 |
read the fine prints in your contract. |
Re: Does A Creditor Have The Right To Seize A Debtor's Property? by Psychokinetic: 4:07pm On Apr 12, 2022 |
irririchris:Lol… Desperation won’t let them read contract, they’ll just sign and sign away their destinies. 2 Likes |
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