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Free Legal Advice Philippines » FREE LEGAL ADVICE » OBLIGATIONS & CONTRACTS | CREDIT TRANSACTIONS » Car Loan Restructure

Car Loan Restructure

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1Car Loan Restructure Empty Car Loan Restructure Wed Apr 11, 2018 11:08 am

oliby26


Arresto Menor

Why banks refuse car loan restructure or modification request if BSP has a mandate that banks shall adopt restructuring polices under the Manual of Regulations for Banks 178.18 Credit workout and remedial management of problem credits Part I - Page 115k Section B & C?

2Car Loan Restructure Empty Re: Car Loan Restructure Wed Apr 25, 2018 5:34 pm

thepoetsedge

thepoetsedge
Reclusion Perpetua

Usually, the banks need a valid reason before restructuring of a loan is allowed. They cannot just allow loan restructuring without a valid reason, since that will unnecessarily burden them if such is allowed willy-nilly.

Check the terms and conditions of your bank loan and see if there are specific terms regarding restructuring of a loan. There should be a list of valid grounds there, at least.

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Free Legal Advice Philippines » FREE LEGAL ADVICE » OBLIGATIONS & CONTRACTS | CREDIT TRANSACTIONS » Car Loan Restructure

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