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Appointment Terminated Unjustly And The Staff Asked To Refund Salaries - Career (2) - Nairaland

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Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by LUGBE: 8:02am On Oct 08, 2017
sad
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by Beowulf(m): 8:04am On Oct 08, 2017
ziddy:


i see you are leery of dropping more details, maybe the circumstances leading to her exit from that job were less than savoury. That guy said it all. She can walk away and try to forget she ever worked in a bank (no references, ever). There is nothing the bank can do to recover said indebtedness except sit on her references.

All loans given out by banks are meant to be collateralised, under Nigerian law. Any bank that gives out an unsecured loan breaks the law!

Please could you refer to the particular legislation of Nigerian law that requires the collaterisation of every loan?

1 Like

Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by pedrilo: 8:05am On Oct 08, 2017
SweetJoystick:
She will have to pay. The bank can't forfeit it. The bank will restructure the loan to a commercial loan and not a staff loan with little or on interest.

The reason the bank asked her to pay immediately is because they know once it's a commercial loan it will be difficult for her to pay as the interest rate would increase.

It's not like if she doesn't pay now they will come after her. It will only dent her credit rating. What that means is that she would have a bad loan rating, if she even pays much later and secures another employment elsewhere and applies for a loan, be it commercial or staff loan, it might not be granted because her rating would have been dented as a defaulter in credit bureau
as a banker, this is the only valid point so far.
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by SweetJoystick(m): 8:08am On Oct 08, 2017
pedrilo:
as a banker, this is the only valid point so far.
Lol I be ex banker grin
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by Ten06(m): 8:10am On Oct 08, 2017
It depends on the agreement she signed when taking the loan, if she sign to pay within the duration of 3 years the bank have no option than to wait until that time before they can finish collecting their money
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by ezteem(m): 8:11am On Oct 08, 2017
ddestiny145:
Dear brethren. Please do advice. My sister'S appointment got terminated in a bank and she was asked to refund the loans she collected from her office. Note:she had no intention to live the bank. The loan was meant to be deducted from her monthly salaries. Lawyers in the house can she make a case in the court. Since she didn't resign but the bank ask her to go,invariably the bank should also forfeit the loans since they terminated her appointment.

She's definitely going to payback as most of these companies make you sign that you'll finish up loan even if you are laid of. Money can make people blindly take loans.

2 Likes

Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by san316(m): 8:15am On Oct 08, 2017
It's possible that she was sacked for disciplinary issues. If it was a lay-off, they will deduct the outstanding balance from her entitlement.
But how does the bank expect her to pay? From where?

1 Like

Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by AntiWailer: 8:15am On Oct 08, 2017
SweetJoystick:
She will have to pay. The bank can't forfeit it. The bank will restructure the loan to a commercial loan and not a staff loan with little or on interest.

The reason the bank asked her to pay immediately is because they know once it's a commercial loan it will be difficult for her to pay as the interest rate would increase.

It's not like if she doesn't pay now they will come after her. It will only dent her credit rating. What that means is that she would have a bad loan rating as a defaulter who doesn't repay as at when due, if she even pays much later and secures another employment elsewhere and applies for a loan, be it commercial or staff loan, it might not be granted because her rating would have been dented as a defaulter in credit bureau

I was about typing and i saw this.

You are spot on.

Thank you.
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by ttmacoy: 8:16am On Oct 08, 2017
The first thing she needs to do is read any documents she signed or the company policy on staff loans to ascertain what should happen if she is fired.

If it was a loan she should have signed a contract which should spell out what should happen in such a situation.

My expectation without having the details is the bank should allow her continue to pay the loan in instalments but I do not expect the bank to write off the loan even if she was fired. She still owes the money.


ddestiny145:


Thanks alot. More opinions please.
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by AntiWailer: 8:16am On Oct 08, 2017
ezteem:


She's definitely going to payback as most of these companies make you sign that you'll finish up loan even if you are laid of. Money can make people blindly take loans.

They dnt have to. They will spoil her credit rating.
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by Nobody: 8:19am On Oct 08, 2017
ddestiny145:
Dear brethren. Please do advice. My sister'S appointment got terminated in a bank and she was asked to refund the loans she collected from her office. Note:she had no intention to live the bank. The loan was meant to be deducted from her monthly salaries. Lawyers in the house can she make a case in the court. Since she didn't resign but the bank ask her to go,invariably the bank should also forfeit the loans since they terminated her appointment.
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by AceVentura: 8:22am On Oct 08, 2017
@Poster,

Please ask your sister what she did that made the Bank ask her to go.

If she was relieved of her duties due to downsizing, the Bank usually clears any loans that she has with them.

In my opinion, she was involved in something fishy thus her predicament. Tell her to be truthful before coming here to ask for help....

So says a "banker".

1 Like

Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by Nobody: 8:22am On Oct 08, 2017
Your Sister should know what we call "Loan Recovery" and the Methods use.

She don't have to worry that won't do a jerk to her. By next year it will be written off and they will only revisit it if she get employed again and her employers ask of reference from the bank.

Hard luck to you. Sometimes that's the way the cookie crumbles.



ddestiny145:
Dear brethren. Please do advice. My sister'S appointment got terminated in a bank and she was asked to refund the loans she collected from her office. Note:she had no intention to live the bank. The loan was meant to be deducted from her monthly salaries. Lawyers in the house can she make a case in the court. Since she didn't resign but the bank ask her to go,invariably the bank should also forfeit the loans since they terminated her appointment.
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by Naturelle05: 8:25am On Oct 08, 2017
ddestiny145:
Dear brethren. Please do advice. My sister'S appointment got terminated in a bank and she was asked to refund the loans she collected from her office. Note:she had no intention to live the bank. The loan was meant to be deducted from her monthly salaries. Lawyers in the house can she make a case in the court. Since she didn't resign but the bank ask her to go,invariably the bank should also forfeit the loans since they terminated her appointment.
that's the problem with loan,people are always in a hurry to get a loan without asking question,question like this should be asked, no body can boast of having a job tomorrow except you are self employed or work for government, loan from organization won't stop them from sacking you at anytime. She has to go to the bank and have an agreement with them but trust me they won't forfeit it.

2 Likes

Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by Xyzee: 8:28am On Oct 08, 2017
AceVentura:
@Poster,

Please ask your sister what she did that made the Bank ask her to go.

If she was relieved of her duties due to downsizing, the Bank usually clears any loans that she has with them.

In my opinion, she was involved in something fishy thus her predicament. Tell her to be truthful before coming here to ask for help....

So says a "banker".

Not true!

It is most likely Performance.

That's not meeting her budget.

A lot of Bank employees go for this reason.
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by Xyzee: 8:31am On Oct 08, 2017
Naturelle05:
that's the problem with loan,people are always in a hurry to get a loan without asking question,question like this should be asked, no body can boast of having a job tomorrow except you are self employed or work for government, loan from organization won't stop them from sacking you at anytime. She has to go to the bank and have an agreement with them but trust me they won't forfeit it.

Getting a loan is the only advantage you enjoy working in a Bank.

Get a loan and invest! Build a house, business etc.

I bet you that's what you would have achieved.
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by XX01(f): 8:36am On Oct 08, 2017
Beowulf:


Please could you refer to the particular legislation of Nigerian law that requires the collaterisation of every loan?

I tire o. People will just be fabricating things and terming them facts.
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by aniyphil: 8:37am On Oct 08, 2017
ultron12345:
You are not even asking that the loan be paid back in installments rather u want the loan to be forfeited.....hmmm......people are wicked.


What did the loan agreement or policy say about loan repayment when the employee Is sacked?

Note that when a staff is disengaged by any organization . . .the organization should also be ready to write off the loan owed by the staff as he/she did not tender any resignation . . .the loan was meant to run for an agreed period and so cannot be paid back in one fell swoop or even in installments . . .how is he/she expected to pay back . . .he/she just lost a source of livelihood so how will you expect the loan to be paid back?
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by Beowulf(m): 8:42am On Oct 08, 2017
XX01:


I tire o. People will just be fabricating things and terming them facts.

My sister, I am still waiting to be enlightened o. I am just giving him the benefit of the doubt.
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by onymodel(m): 8:49am On Oct 08, 2017
A lot of people do not understand the dynamics of banks and loans.

1. Ask her if she was outsourced or a full staff.
2. If she was the former, ask her if she got a letter of indemnity from her contracting company.
3.If the latter, who insured the loan. Insurance normally are the one to pay off the loan that's why 1% of the total amount is given to them and 2.8% for senior citizens.

Better still let her whatsapp me 08137572574 let's talk more on this.
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by ipobarecriminals: 8:49am On Oct 08, 2017
sad there's nothing any lawyer can do to help ur sister.Ask her what she use the loan for?If not for one clothes,undies,shoes,owambes Aso ebi etc.Most of these pipu live a fake lifestyle.They eat what a BDO,BM never eat.If Tolu buy iphone,the giraffe neck among them too must buy.They never use the loan to buy land/do biz but just waste it.Ur sister is probably one of those contract staff.Look here,there's nothing anybody can do to help her,she must pay the money back sam sam.Abi dey forced her for the loan?

1 Like

Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by Beowulf(m): 8:50am On Oct 08, 2017
AceVentura:
@Poster,

Please ask your sister what she did that made the Bank ask her to go.

If she was relieved of her duties due to downsizing, the Bank usually clears any loans that she has with them.

In my opinion, she was involved in something fishy thus her predicament. Tell her to be truthful before coming here to ask for help....

So says a "banker".

With all due respect, the bit in bold could not be further from the truth! No bank in Nigeria will ever or has ever done that. When the bank sacks you, they crash your loan into your account and soak up every credit there. If there's nothing, it throws your account into debit! In fact, in some cases you will see a credit alert for your salary for that month enter your account immediately followed by a debit alert for the same amount for the loan repayment.

I think it's also presumptuous to think his sister was involved in something shady. I know many friends "tsunamied" from banks for no reason. A friend went on maternity leave, came back and on the first day was sacked! She couldn't log into her system and IT told her to speak with HR.

2 Likes

Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by GratefulHeart23(f): 8:55am On Oct 08, 2017
SweetJoystick:


It's not like if she doesn't pay now they will come after her. It will only dent her credit rating. What that means is that she would have a bad loan rating, if she even pays much later and secures another employment elsewhere and applies for a loan, be it commercial or staff loan, it might not be granted because her rating would have been dented as a defaulter in credit bureau

She can sue them for that. Most Banks would consider restructuring from Staff loan to commercial loan or go after 'naive' guarantors due to the uncertainty of the loan recovery duration.

In this era of MicroRate Client Protection palaver, recovering this type of loan can take like forever coz as a Bank, you can't force a client to repay a loan when he/she has no means of sustenance let alone repayment. As a Bank, all you can do is either wait till he/she secure a means of likelihood and agree on an instalment which might take like forever in this present economy or try your luck by going after her guarantors.

Mind you, a learned guarantor won't make such repayments coz the default isn't voluntary on the part of the client. Events of job loss, death, fire outbreak, flood and other natural disasters are not usually included in the guarantee form, insurance and restructuring do take care of such.

Repayment by restructuring do take long. Ideally, you only have the right to blacklist such clients on Credit Bureau if there are evidence that you have contacted the client and yet he/she refused to pay after securing a means of livelihood.

In a contry like Nigeria, this loan is as good as a write off, repayment might never come back. I smell termination due to fraud or flaunting any of the contractual terms here anyway coz if the job loss is due to downsizing, the person involved won't be compelled to pay.
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by Nobody: 8:59am On Oct 08, 2017
Beowulf:


Please could you refer to the particular legislation of Nigerian law that requires the collaterisation of every loan?

bofia 2004
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by aviationguy: 8:59am On Oct 08, 2017
it's depends on the loan agreement,beside to refund loan after termination is not likely possible but they can deduct the loan from her terminal benefit or pensions.

The bank can terminate her appointment if it's feels her services is no longer required in the bank,irrespective of her loan been repayment.

but I will advise she discuss with the H. R manager for proper settlement of the loan repayment.
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by pat1612(m): 9:17am On Oct 08, 2017
shurley22:
What do I know undecided
Is time to learn then how to manage if same thing happen cool
I am here to learn grin
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by ERICOPLC(m): 9:18am On Oct 08, 2017
It is a two way thing. If your sister is dismissed she will not pay back, as she goes home with nothing. But that means she may not be gainfully employed by any government or an established private company anymore.
If her job was terminated, the loan balance will be deducted from her terminal benefit.
If she is on contract/temporary appointment, the appointment letter would have spell out what will happened in this type of case.
But this defer from company to company as industrial practice.
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by shurley22(f): 9:22am On Oct 08, 2017
pat1612:

Is time to learn then how to manage if same thing happen cool
I am here to learn grin

Yeaa sure
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by MrBigiman: 9:32am On Oct 08, 2017
U and ur sister want to leave a company without paying ur debt. Probably ur sister took d loan because she knew she'll be kicked out, and wanted something dat will stop d company from sacking her. If u underperform u'll be sacked loan or no loan. Better find a way to pay ur loan. Rubbish!
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by 400billionman: 9:36am On Oct 08, 2017
Guitarlife:
@Op no doubt there will be a lot of uninformed suggestions here, far too many commenting have never worked as a full staff in a financial institution and therefore do not understand the circumstance of the issue.

There are two things involved here, are you referring to the upfront Quarterly payment that the bank regularly pays its staff and housing allowance paid at the start of the year or a loan by your sister where she requested for one and it was approved with legally binding documents signed ?

If it is the former (first) then, I'd say that the bank does not have any legal stand to demand your sister to pay it back because under the law there must have been an application and subsequent approval and acceptance of the said loan for loan agreement to be binding.
In this case your sister never applied for the loan therefore she is not technically obligated to pay although I am aware the bank might still throw her account into debit and start accumulating interest after some months. This to me isnt an issue per se cos there aint no binding agreement while the only issue might be that the bank may not provide a positive reference for your sister in future in case she chooses to apply for another jjob and need s the bank to referee her as having worked with them before.

Now to the second scenario, Your sister indeed applied for the loan and I understand she might signed some legally binding documents too. However, while she is morally obligated to pay the loan back their might not be a consequence as such most likely what i wrote up there will suffice too, it depends on the approach that the bank decides to take but I am aware that since no collateral was submitted which should be the case in a regular structured loan the case might not well compare with someone who took a regular loan out there.

I will want to read from other experienced folks too as this is an an opportunity to learn.

Thanks.

Oyibo.

Bekee..
Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by aalex1: 9:50am On Oct 08, 2017
ddestiny145:
Dear brethren. Please do advice. My sister'S appointment got terminated in a bank and she was asked to refund the loans she collected from her office. Note:she had no intention to live the bank. The loan was meant to be deducted from her monthly salaries. Lawyers in the house can she make a case in the court. Since she didn't resign but the bank ask her to go,invariably the bank should also forfeit the loans since they terminated her appointment.
What should the share holders and depositors do since it is their funds that were used to grant the loan. Did she collect the loan to secure her employment? as u said she had no intention to leave. She should have known that job security in banks is not assured before she took the loan....hope she invested the money well that she can use proceeds to repay and not that she used it to buy accessories to slay and pepper them..

1 Like

Re: Appointment Terminated Unjustly And The Staff Asked To Refund Salaries by ipobarecriminals: 9:52am On Oct 08, 2017
GratefulHeart23:


She can sue them for that. Most Banks would consider restructuring from Staff loan to commercial loan or go after 'naive' guarantors due to the uncertainty of the loan recovery duration.

In this era of MicroRate Client Protection palaver, recovering this type of loan can take like forever coz as a Bank, you can't force a client to repay a loan when he/she has no means of sustenance let alone repayment. As a Bank, all you can do is either wait till he/she secure a means of likelihood and agree on an instalment which might take like forever in this present economy or try your luck by going after her guarantors.

Mind you, a learned guarantor won't make such repayments coz the default isn't voluntary on the part of the client. Events of job loss, death, fire outbreak, flood and other natural disasters are not usually included in the guarantee form, insurance and restructuring do take care of such.

Repayment by restructuring do take long. Ideally, you only have the right to blacklist such clients on Credit Bureau if there are evidence that you have contacted the client and yet he/she refused to pay after securing a means of livelihood.

In a contry like Nigeria, this loan is as good as a write off, repayment might never come back. I smell termination due to fraud or flaunting any of the contractual terms here anyway coz if the job loss is due to downsizing, the person involved won't be compelled to pay.
"sew" them on top of another customers money abi?Dey forced the loan on her/she asked for it?Dey there dey speak grammar.I'm in that system too,so i knw watsap.

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