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Unpaid loan with acquired bank

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1 Unpaid loan with acquired bank on Mon Jul 28, 2014 12:06 am

jkroldan


Arresto Menor
My friend has an outstanding loan with Bank A which was acquired by Bank B two years ago. She was not aware of this and was contacted just this month by a collection agency demanding payment in behalf of Bank B. Can she be required to pay when she has no agreement with Bank B. Also, can they require payment amounting to almost 6 times the loan balance, accordingly due to interest and penalty charges? Thank you!

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