4 plus 3 other things a bank debtor should always do

In the first section of this post Abdul Muhammed Law Practice lists the 4 things a bank debtor must do when he receives a legal demand letter from his creditor bank and the 3 things listed out in the second section are even more important suggestions for the bank debtor.

First section

1.Instruct an experienced lawyer immediately.

2.Get an experienced forensic accountant to review the loan accounts.

3.Offer to settle the loan by negotiation – you need a professional to help you with this.

4.If settlement fails go to court FIRST before the bank.

Do you have specific interest in defending yourself or your business against excessive bank debt claims?

Second section

1.Have your OWN standby accounting service do your reconciliation every month.

2.Dispute in writing any line of charge that is suspicious to you immediately.

3.Pay slightly more than the instalment due and never exactly the amount due. 4.Get an experienced lawyer to vet or draft all your letters to the bank.

READ: Pay close attention to these 8 sections of the AMCON Act