Get premium membership and access questions with answers, video lessons as well as revision papers.

What should a lender do,should he know he/she is dealing with a problematic account?

What should a lender do,should he know he/she is dealing with a problematic account?

Answers

- Contact the customer to discuss the situation.
- Return cheques and direct debits or recall standing orders (under advice to be
customer, at least on the first occasion).
- Cancel any unadvised (control) limit and replace with a low limit, so that the account
will be referred earlier.
- Ask for the return of cheque books and plastic cards and ensure they neither are nor
renewed. If possible inhibit ATM withdrawals by ‘hot carding’, place on the counter
reference lists.
- Cancel any credit open arrangements.
- Search with a Credit Reference Agency

---

sharon kalunda answered the question on March 7, 2019 at 14:21

Next: Outline some of the warning signs a lender should use to know he/she is dealing with a problematic account.
Previous: Define the following terms as used in a business research; i)Variables. ii)Independent variable. iii)Dependent variables. iv)Parameter. v)Data.

View More Lending Questions and Answers | Return to Questions Index

Related Questions

• Outline some of the warning signs a lender should use to know he/she is dealing with a problematic account.(Solved)
  

  Outline some of the warning signs a lender should use to know he/she is dealing with a problematic account.

  Date posted: March 7, 2019.  Answers (1)

• Which aspects should be considered when dealing with Problematic Accounts.(Solved)
  

  Which aspects should be considered when dealing with Problematic Accounts.

  Date posted: March 7, 2019.  Answers (1)

• When should a bank take Security?.(Solved)
  

  When should a bank take Security?.

  Date posted: March 7, 2019.  Answers (1)

• State and explain two types of bridging loan facilities(Solved)
  

  State and explain two types of bridging loan facilities.

  Date posted: March 7, 2019.  Answers (1)

• Discuss THREE methods a bank uses to monitor customer's account.(Solved)
  

  Discuss THREE methods a bank uses to monitor customer's account.

  Date posted: March 7, 2019.  Answers (1)

• Highlight the reasons for monitoring borrower's account. (Solved)
  

  Highlight the reasons for monitoring borrower's account.

  Date posted: March 7, 2019.  Answers (1)

• Discuss the Principles / Canons of Lending.(Solved)
  

  Discuss the Principles / Canons of Lending.

  Date posted: March 7, 2019.  Answers (1)

• Outline five stages in analyzing a new lending proposition.(Solved)
  

  Outline five stages in analyzing a new lending proposition.

  Date posted: March 7, 2019.  Answers (1)

• What should a lender who is confident in his / her ability do?.(Solved)
  

  What should a lender who is confident in his / her ability do?.

  Date posted: March 7, 2019.  Answers (1)