How do banks in Pakistan recover money from borrowers who don’t pay?
Banking
Asked by Question Bot07/Jan/20151 answer
1 Answer
F
Faisal Khan
Answered 07/Jan/2015
I'm going to assume you are talking about consumer collection.
It us usually done via collection agencies to whom banks outsource this. Collection services in Pakistan have gone through a very up/down period in the past. Some collection agencies resorted to unprofessional tactics, while others were border-lining.
Today, at most all they can do is harass you at your home or work place, and nothing more. For smaller amounts, the banks (via their collection agencies) will even try to settle down to a smaller lump-sum amount against your outstanding. For larger amounts, the letter from the lawyer is the typical route.
It us usually done via collection agencies to whom banks outsource this. Collection services in Pakistan have gone through a very up/down period in the past. Some collection agencies resorted to unprofessional tactics, while others were border-lining.
Today, at most all they can do is harass you at your home or work place, and nothing more. For smaller amounts, the banks (via their collection agencies) will even try to settle down to a smaller lump-sum amount against your outstanding. For larger amounts, the letter from the lawyer is the typical route.