Problem 2: pledge isn’t on sale
In September, 2009 Volkswagen Golf 2006 of the release, belonging to borrower Tara, has been driven away on penal parking of bank. As she already for about half a year didn’t pay the credit, the exit was one – to sell the car on reasonable price and at the expense of it to liquidate a debt. Initially Tatyana agreed such variant; therefore she has brought car keys in bank. But there were months, the car all wasn’t on sale, the amount of debt grew. For a year the cost together with percent, penalties and parking payment has constituted about 10 thousand dollars. Now Tara also is glad independently to sell the car, but bank employees don’t give her to do it.
What to do: In order to avoid such situations in the order agreement it is necessary to fix the maximum term of realization of pledge (for example, 3 – 6 months). The managing partner of the law company reminds that for property realization many banks agree to suspend charge of penalty provisions and even percent. But that the bank has made it, the borrower should ask about it in writing form, that is write the application addressed to the chief of bank department where the credit is given out, and to achieve the consent. To create soft terms “by default” bankers aren’t able.
Problem 3: pledge is sold – money isn’t present
In 2006 Alexander has acquired Lexus IS 250 for 45 thousand dollars. In 2008 he couldn’t serve the credit and has been forced to transfer to bank the car for realization. At the moment of signing of the letter of attorney on sale of a car the remainder under the credit constituted 30 thousand dollars. In two months to Alexander have reported that on the car there was a buyer, ready to pay the sum, sufficient for loan repayment. Thus the manager has warned the borrower that for minimization of taxes in documents will specify other price – 10 thousand dollars. The borrower was not against it; the main thing is that the credit has closed. But after carrying out of the transaction on account of loan repayment it has been listed all 10 thousand dollars. Other sum Alexander still owes to bank. He, probably, has forgotten that swindlers among employees of banks meet as often, as well as among representatives of other dear professions. Sale on underestimated against the real price is basically dangerously, but especially – in case the third party interferes with process – the bank representative. In that case at the seller becomes much less chances to defend the interests
What to do: you can disagree on such adventures and to demand instructions in documents of the real sums. It is a guarantee of that the credit all the same will be extinguished for the greatest possible sum. If the bad story has already occurred, there is a chance to defend the rights in court, being based that the property has been sold at the price essentially below market without the consent of the borrower, the leading lawyer of law firm advises.
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