₦airaland Forum

Sholaqe:
Leon balogun is hot.

IfoyinTEDO:
Make them play Brazil first

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.

kenonze:
If u study the universe,
Am afraid, there is no God.
The EARTH is just an insignificant part of the Milkyway Galaxy of which there are billions on other galaxies that formed the universe.
Mind u we have many universe that made up the Multi Verse

DanielsParker:
Why not?

pedrilo:
as a banker, this is the only valid point so far.

dingbang:
Only for us to lose again at group stage... So what's all the celebration for? Let's only celebrate when we win world cup cuz I am tired