AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
TAIWAN BANKS WARN AGAINST CONSULTING WITH AGENTS ON PAYING DEBT.
TAIPEI, April 1 Asia Pulse - The Bankers Association of the Republic of China (BAROC) suggested Monday that with the implementation of new regulations to allow for easier debt repayment deals, debtors who seek to negotiate with banks on their repayment conditions would be better off not using an agent.
The BAROC said some debt agents, including attorneys, have posted advertisements exaggerating the complexity of the Consumer Insolvency Proceedings, which are set to take effect April 11 with the aim of protecting debtors who are unable to pay off their debts all at once.
Such advertisements could mislead debtors into believing that only with an agent's help will they be able to obtain a better deal from the banks, which is far from the truth, the BAROC said.
"The Consumer Insolvency Proceedings actually simplifies the debt negotiation process, " noted Spike Wu, chairman of the association's Consumer Finance Unsecured Debt Restructuring Program Committee.
Wu said that under the proceedings, debtors need only fill out forms such as a certificate of income to accomplish a repayment deal with the banks. The regulation, Wu went on, makes the payment options flexible.
"After negotiation, the bank will offer the debtor ...
- Consumer Insolvency in Poland: Problems and Prospects-A D V IC E F R O M S A L...
- News wire article from: Europe Intelligence Wire August 13, 2008 700+ words
...defend their rights;Such insolvency proceedings should be as cheap as...court fee for initiating consumer insolvency proceedings will be zl.200, as...provisions foresee that consumer insolvency will be based on the total...
- Application Of Chapter 15 Of The US Bankruptcy Code To Non-US Insolvency...
- News wire article from: Mondaq Business Briefing September 17, 2008 700+ words
...Code for non-US insolvency proceedings to be treated by the...liquidator of non-US insolvency proceedings to make an application...of those non-US insolvency proceedings as the main proceedings...
- A Trustee In Foreign Insolvency Proceedings Not In Breach Of Exclusive...
- News wire article from: Mondaq Business Briefing August 8, 2008 700+ words
...issued a petition in the Canadian insolvency proceedings that sought to change the contractual...stayed pending the outcome of the insolvency proceedings in Canada. NASL was party to a...until the steps in the Canadian insolvency proceedings were exhausted and the Trustee...
- COMPANY LAW : PARMALAT SUBSIDIARY'S INSOLVENCY PROCEEDINGS STAY IN...
- Magazine article from: Europe Agri May 5, 2006 700+ words
...High Court jurisdiction over the insolvency proceedings of Dublin-based company Eurofood...international jurisdiction over the insolvency proceedings. The Italians' argument was not...has jurisdiction to open the main insolvency proceedings, applying to the debtor's assets...
- COMPANY LAW : PARMALAT SUBSIDIARY'S INSOLVENCY PROCEEDINGS STAY IN...
- Newspaper article from: European Report May 3, 2006 700+ words
...High Court jurisdiction over the insolvency proceedings of Dublin-based company Eurofood...international jurisdiction over the insolvency proceedings. The Italians' argument was not...has jurisdiction to open the main insolvency proceedings, applying to the debtor's assets...
- Insolvency proceedings instituted for the assets of Mania Technologie AG, Mania...
- Magazine article from: CircuiTree August 1, 2008 700+ words
...court) ordered the institution of insolvency proceedings for the assets of Mania Technologie...During the course of the preliminary insolvency proceedings, a purchaser was found for Mania...operations after the institution of the insolvency proceedings. (Source: www.maniagroup...
- VDN applies for insolvency proceedings (VDN stellt Insolvenzantrag).
- News wire article from: Europe Intelligence Wire June 1, 2005 700+ words
...holding company, has applied for insolvency proceedings at a Cologne-based court after...it has been forced to apply for insolvency proceedings because DNick Ltd, the UK-based...staff, are not affected by the insolvency proceedings. VDN itself no longer employs...
- Insolvency proceedings opened at BenQ Mobile (BenQ Mobile stellt Produktion...
- News wire article from: Europe Intelligence Wire January 3, 2007 700+ words
(From Financial Times Deutschland) Insolvency proceedings have commenced at the district court of Munich...takeover of part of the company after the opening of insolvency proceedings could still be attractive to investors, as they...
- Insolvency proceedings that supercede European borders.
- News wire article from: Europe Intelligence Wire January 7, 2003 700+ words
...Richard Latten says the industry should be aware that insolvency proceedings in the European Union are no longer stopped by country...filed for. On the strength of the EU regulation on insolvency proceedings he argued that the previous principle of territoriality...
- Insolvency proceedings at 4MBO (Insolvenzverfahren bei 4MBO eroffnet).
- News wire article from: Europe Intelligence Wire March 16, 2004 700+ words
...Zeitung) A court in Esslingen has opened insolvency proceedings against 4MBO International Electronic, the...Subsidiary Jenimage is not affected by the insolvency proceedings. Abstracted from Borsen Zeitung
Source: HighBeam Research, TAIWAN BANKS WARN AGAINST CONSULTING WITH AGENTS ON PAYING DEBT.