Banks crank up the pressure

These days, everyone wants to get paid as quickly as possible, resulting in financial institutions clamping down on those who have not yet repaid loans, writes Dave Boland.

21st February, 2009

Whereas some leeway may have been allowed in the past, the present financial difficulties have created a situation where everybody needs to be paid, and paid quickly. Hardly surprisingly, it’s the banks who are leading these calls to be repaid, applying substantial pressure on their customers to repay loans.

‘‘Last autumn, banks told their developer/construction clients that they would not seek any repayment on loans at that stage, but would roll up the...

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