Clients who have got into a conflict with the banks they tookout loans from, in order to get their instalments reduced, shouldthink about the fact that in the future they have very littlechance of receiving any more help - in the form of restructuringfacilities - if they should need it, warns Mihai Bogza, Bancpostchairman and former vice-governor of the NBR (National Bank ofRomania).
"It is much better for disagreements to be solved throughpartnerships rather than in a court of law. If these clients who goto court and make negative publicity will in the future need torestructure their loans, the bank they got into an open conflictwith is not likely to help them," Bogza says.
The modification of consumer loan regulations as of this summer,via Emergency Ordinance 50/2010, has led to an unprecedented move,with thousands of clients joining forces and asking banks to cutcredit instalments, by eliminating the fees that have now beenoutlawed, as well as by shifting to transparent reference interestrates. Bankers have interpreted the new regulations differently,believing costs to clients should not be modified. The creation ofgroups of clients seeking to bring collective cases against bankswas just one step away.
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