@lonest, you have explained it well!

Proper lending practice recognizes that security is just insurance in case you don't pay.
The fact that the security is gone does not mean your ability to repay is also gone - those are 2 different mutually exclusive manenos.
Si bado unaenda job? Si bado unatwanga biz and getting some mullah? Unless the biz was located at the affected premises.

So Banks will still come after you to pay if you default; for starters, utaingizwa CRB.

And given you signed a personal guarantee, all your other assets plus the kienyeji kuku you are keeping for the coming Xmas festivities can be sold off to pay off the outstanding bank debt.

If someone else had guaranteed your debt, the bank will come for them with the same gusto and the courts ruled recently that even the guarantor can now be listed on CRB if they don't pay off a debt they have guaranteed.

Guarantor assets can be similarly sold.

If you have no further assets of value, and you have the means, then the bank can apply to have you committed to civil jail for willingly failing to pay off its debt.

they aren't allowed to sell personal stuff like your chicken. anyways, the best way out of it is apply for bankruptcy, re-arrange your debt, pay only a small part of it, discharge the bankruptcy and you are home dry.

Employment contracts, govt and private sector, have a clause where the employee confirms that he does not suffer pecuniary embarrassment. In other words you are not bankrupt. So if you were to file for bankruptcy it means you are FIRED, or rather you have just fired yourselefu.

Kenyans are very funny people.

It seems that the only people in the world who didn't know that the land was grabbed are the fools who bought the properties.

I'm waiting for the ones in Nyayo Highrise to also pretend they didn't know their land was grabbed.

Watu warudishe mashamba za serekali.