unpaid bank loan for 10 years and more
2 Re: unpaid bank loan for 10 years and more on Tue Oct 01, 2013 11:04 am
3 Re: unpaid bank loan for 10 years and more on Mon Oct 28, 2013 9:42 pm
The bank actually visited me sometime in the middle of 2012. An agreement between the credit collectors who visited me and myself was reached. In fact I started repaying my loan "monthly" on an agreed sum of amount.
I could have settled the said amount before the end of 2012. However, on the second visit to the bank to pay, I was told by the credit collection people they will no longer accept my payment. I was told a credit collecting agency will instead be in touched with me in the Philippines.
I told them I am very much in Saudi Arabia; working in the same company they know and not in the Philippines. Yes I was delinquent, but I am ready to correct my mistake hence I have agreed to pay them in large chunk instead of the normal amount set by the bank, just to settle the issue.
I simply could not understand the bank's logic in not accepting my payment when I visited them to pay?
Do I need to get in touch with the collection agency? What possible course of legal action would they file against me? Are they allowed to do that even if the transacting parties (the bank and myself) are outside of the Philippines and I have not signed any agreement with the collecting agency?
Your advice would be appreciated.
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