Jump to content

Bank pending loans; can I make it?


Nants
 Share

Recommended Posts

I have a bank loan with a certain collateral; my car and my house and lot. My loan is quite in big amount with a certain 2% interest per month. For the last 6 months I haven`t paid any amount for that loan. The bank send me a demand letter giving me another six months to settle any unpaid balance for my loan. If I can`t make it then my car and property will belong already to the bank.

I lost my job 8 months from now already and still finding one. I`m a Veterinarian and own a piggery for somehow but due to some reasons it went unfavorable. The downfall of my business brings me a lot of fund trouble.

I have a certain friend who is willing to help me pay that said loan in exchange for the collateral with a much more higher interest than the bank. I think he`s grabbing the opportunity during this time and I think he has the interest in my property.

My question are; Am I going to accept his offer? How about if ever I could find funds during that 6 months allotted time?

If ever I won`t accept his offer and time will come? What would be the best way to pay my bank loan?

Thanks for replies and your help.

Link to comment
Share on other sites

  • 2 weeks later...
Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.