Handling bad debts and collateral

03/01/2019 08:50 GMT+7 35

To exercise the rights of creditors and secured parties to borrowers, debt repayment parties and guarantors


1.VAMC implements measures to handle bad debts and collateral in accordance with law, specifically:

• Exercise the rights of the creditor, the secured party to the borrower, the party responsible for debt repayment, the guarantor.

• Organize urging, debt repayment, debt collection from borrowers, debt repayment parties and guarantors.

• Implement bad debt restructuring, support borrowers.

• Agreement with borrowers to convert debt into contributed capital, equity.

• Collecting debt with the main collateral of the debt.

• Sale of debt, sale of security assets to organizations and individuals in accordance with the law.

• Initiate a lawsuit against borrowers, the obligor and the guarantor to go to Court.

• Filing an application requesting the Court to conduct bankruptcy procedures in accordance with the law for borrowers who are unable to pay their debts and for the party with a debt repayment obligation, the securing party is unable to perform. duty.

2. In case the debt purchased by VAMC with special bonds, VAMC may authorize the debt selling CI to perform one or more of the above debt handling measures.

Top