Posted by
Derek_007
12 yrs ago
My friend owes a bank some money and due to him losing his job, he couldn't pay his personal loan installments and credit card debt which amounts to HKD 70K. He asked the bank to restructure his debt so he could pay over a longer period at a lower interest, they refused. He was paying 40% interest on his personal loans and about the same on his credit card.
After his failed attempts to get the bank restructure his debt and being out of work, he stopped paying and ignored bank phone calls. He has just got a new job, but now he received his first letter from a debt collection agency.
He is worried if the debt collector visits his office, what is the law on a debt collector visiting a person's place of work?
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Hi Alby007,
Thanks for your reply. His major worry is if the debt collector visits his office premises, does a debt collector have the right to visit him at his office?
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How will the debt coolection agency find out:
a. he now has ajob
b. his new office address
unless he tells them?
I would suggest he gives them no such information then teh question of them visiting his new office will not happen.
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coty
12 yrs ago
Don't understand why most of the above are on the side of the debtor. Debts should be paid or collected.
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Agree Coty! Understandable if you were in a tight spot but you now have a job so do the right thing and make arrangements to pay off the debt.
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