Asi she is finished!!!!Pole to her.No insurance for Job loss in Kenya .


Please ask her to sell whatever she can and settle the loan before auctioneers come knocking .

That sofaset she bought at Ksh 50,000 will be valued at Ksh 500 by these ruthless auctioneers.
By selling before the auctioneers come , she can get better value .All the best .

Auctioneers can come to you for any amount as long as they get a wind that you have some assets that are beyond the amount you owe.And they are stern , I tell you.

@Oaks is right, but @'user' must be the bank's official scarecrow.
If the lady took an unsecured facility, the bank cannot recover the money through liquidating any of her assets.
If the lady is willing to pay the loan, she should write and tell the bank; and keep them updated on her circumstances. She should also try to restructure the facility.

For the bank to attach her assets, it needs to convince a court that she is not insolent - a tall order.
These are not Kanu days for auctioneers to wreck havock without a court order. They would be dead if the lady knows her human rights. Or the bank can sue her - and since the law favors justice, not truth, she can convince the court that can only afford 1000 bob a month for say, a 2 million loan, the court has no qualms in ruling that she repays the money for the next 2000 months.

@Wa P thanks for the response. I will give advise accordingly.

insurance for job loss ? I doubt.may be death or permanent disability.read the fine print.otherwise everybody would take huge unsecured loans and quit his job. a huge risk I doubt stanchart can take