Clients who have got into a conflict with the banks they took out loans from, in order to get their instalments reduced, should think about the fact that in the future they have very little chance of receiving any more help - in the form of restructuring facilities - if they should need it, warns Mihai Bogza, Bancpost chairman and former vice-governor of the NBR (National Bank of Romania).
"It is much better for disagreements to be solved through partnerships rather than in a court of law. If these clients who go to court and make negative publicity will in the future need to restructure their loans, the bank they got into an open conflict with is not likely to help them," Bogza says.
The modification of consumer loan regulations as of this summer, via Emergency Ordinance 50/2010, has led to an unprecedented move, with thousands of clients joining forces and asking banks to cut credit instalments, by eliminating the fees that have now been outlawed, as well as by shifting to transparent reference interest rates. Bankers have interpreted the new regulations differently, believing costs to clients should not be modified. The creation of groups of clients seeking to bring collective cases against banks was just one step away.
Clients who have got into a conflict with the banks they took out loans from, in order to get their instalments reduced, should think about the fact that in the future they have very little chance of receiving any more help - in the form of restructuring facilities - if they should need it, warns Mihai Bogza, Bancpost chairman and former vice-governor of the NBR (National Bank of Romania).
"It is much better for disagreements to be solved through partnerships rather than in a court of law. If these clients who go to court and make negative publicity will in the future need to restructure their loans, the bank they got