When a customer is unable to repay the loan, how does the bank seize collateral to handle bad debt? This article will clearly state the procedure when a credit institution seizes collateral.
The General Department of Civil Judgment Enforcement of Vietnam issued Official Dispatch No. 3022/TCTHADS-NV1 on guidelines for Resolution No. 42/2017/QH14 on pilot settlement of bad debts of credit institutions.
This is a featured content of Resolution No. 42/2017/QH14 on pilot settlement of bad debts of credit institutions approved on June 21, 2017 by the 14th National Assembly of Vietnam at its 3rd session.
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