Mar 27

China Watch Blog has learnt that there is a rising number of bankruptcies in Hong Kong, as many companies and individuals, squeezed by the adverse economic situation are falling behind in their payments to banks, which are aggressively recalling loans and so on, pressuring many to resort to bankruptcy protection.

Banks are resorting to dirty tactics to squeeze their customers, and when their payments are overdue by slightly over one month, they add the second month’s payment to the first and immediately demand two months payments in one-go putting tremendous pressure on customers.

If customers fail to pay up, they send their customers case immediately to the debt collection companies, which then bill the customers exorbitant fees for doing the debt collection for the banks.

In so doing, banks ruin their reputation by resorting to dirty tactics.

People many go bankrupt but after four years in Hong Kong, they can discharge their debts, but they cannot borrow money or use credit cards for life. These people would be better off with cash since they cannot deal with banks.

If you think China Watch Blog's information is useful, click on cup of coffee on left hand side and make a small contribution via PayPal

Leave a Reply

Archives

March 2012
S M T W T F S
« Feb   Apr »
 123
45678910
11121314151617
18192021222324
25262728293031
Custom Search

Other Links

Free Web Directory Including Breaking News Resources, Offer automatic, instant and free directory submissions. Free web directory Directory Free
gardening supplies Shop online at the gardenerscentre for a wide selection of garden and gardening supplies and products at low internet prices and fast home delivery service - gardenerscentre.eu
Media Directory. We are listed under Media Organizations category Newsmedia Directory Hong Kong Directory

Hong Kong Directory - A directory of Hong Kong based and themed web sites

Meta

  • Partner links

  • Rss Feed Tweeter button Facebook button Technorati button Reddit button Myspace button Linkedin button Webonews button Delicious button Digg button Flickr button Stumbleupon button Newsvine button Youtube button