By AZE.US
A bank may remind a borrower about an overdue loan and demand repayment, but a phone call from a bank employee does not by itself authorize money to be forcibly withheld from the borrower’s salary, Azerbaijani lawyer Misira Khalilzade said.
Khalilzade told Demokrat.az that banks may notify borrowers about the amount owed and the payment deadline by telephone, text message, letter or electronic notice.
Forced collection requires an enforceable document, she said. A separate court judgment is not always necessary: in cases allowed by law, a notary’s executive inscription may serve as the basis for enforcement when the submitted documents establish that the debt is undisputed and other legal conditions are met.
Before seeking such an inscription, the creditor must notify the debtor, Khalilzade said. A debtor may challenge the claim underlying the notarial inscription in court.
She also pointed to bank-secrecy protections. The existence of a debt does not automatically allow a bank to disclose details of a customer’s loan to relatives, friends or co-workers.
Borrowers who receive warnings about collection should request a written demand and ask which enforceable document supports any threatened action, according to the lawyer.
Source: Vesti Baku, citing Demokrat.az.