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Bank loan default
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aces
#11 Posted : Sunday, March 04, 2012 6:32:52 PM
Rank: Member

Joined: 9/6/2009
Posts: 92
@nakujua, you are totally misinformed bout crb..
"

Life's a wheel of fortune and its my chance to spin it"
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guru267
#12 Posted : Sunday, March 04, 2012 10:05:09 PM
Rank: Elder

Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
aces wrote:
@nakujua, you are totally misinformed bout crb..


www.businessdailyafrica....2/-/f2d51yz/-/index.html
Mark 12:29
Deuteronomy 4:16
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nakujua
#13 Posted : Sunday, March 04, 2012 10:48:35 PM
Rank: Elder

Joined: 12/17/2009
Posts: 3,583
Location: Kenya
aces wrote:
@nakujua, you are totally misinformed bout crb..


would be glad if you pointed out the misinformation.
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aces
#14 Posted : Monday, March 05, 2012 8:25:24 AM
Rank: Member

Joined: 9/6/2009
Posts: 92
nakujua wrote:
The worst that the bank can do is list you with the crb, doesn't mean much - only that the interest rate charged on your future loan might be higher, which is also not very important since you can always get a better loan deal if you belong to a Sacco.

But with the new judiciary you might be thrown into civil jail for that - but I doubt if any bank wants that kind of publicity.



currently, we are living in uncertain times, the rate of loan default is rising with npa set to rise this year for al banks... If u get listed( either no payment or part payment), it shows you are a high risk client, so the banks will have to make the decision based on the info, whether to lend or not.,the interest wont change..but the report will remain for 7yrs.
"

Life's a wheel of fortune and its my chance to spin it"
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The Merchant
#15 Posted : Monday, March 05, 2012 2:12:37 PM
Rank: Veteran

Joined: 5/24/2010
Posts: 846
Location: KENYA
Nothing will happen to you. Its the banks risk, that's why its called an unsecured loan.
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Impunity
#16 Posted : Monday, March 05, 2012 6:15:38 PM
Rank: Elder

Joined: 3/2/2009
Posts: 26,331
Location: Masada
The Merchant wrote:
Nothing will happen to you. Its the banks risk, that's why its called an unsecured loan.


Please re-read the fine prints.
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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madhaquer
#17 Posted : Tuesday, March 06, 2012 8:14:20 PM
Rank: Member

Joined: 11/10/2010
Posts: 281
Location: Nairobi
@Impunity,
Could you be having some of this fine print ?
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chiaroscuro
#18 Posted : Wednesday, March 07, 2012 2:12:02 PM
Rank: Veteran

Joined: 2/2/2012
Posts: 1,134
Location: Nairobi
Why do you want to stop paying back a loan that you willingly took and are still capable of paying?

This is theft! Don't even consider it.

Be honest and pay your dues.
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