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

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

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