My name is Syed, I need an advice.
My brother is working in a multinational company since 7 years. He purchased a car which was financed by Saudi Fransi Leasing. He didn't paid the instalment for 3 months. Suddenly the Bank imposed a travel ban and stopped bank account access. He paid all the 3 instalments last month and spoke to the bank executive to release this travel ban and bank account as his salary come in. Unfortunately, the executive rudely refused to accept his request and said they will not release the case unless the entire amount is paid. Paying the entire amount at once is not possible by any mean. Stopping the bank account put him in a big trouble. He has his family back home and old parents who are dependant on him. If bank don't release his account his family will be in big trouble as he is the one who is earning in his house.
I would like to request you to please give an advice which will help him in coming out of this problem. He offered direct debit system with his salary account to the bank but they are not entertaining him.
Would appreciate your reply.
Need Help
The Saudi banks lose a lot of money to people who don't pay loans, many even leaving the country with the intent of stealing the money they borrowed, that means the banks get tough on defaulters.
Perhaps he could return the car and negotiate a settlement.
Thanks Fred
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