Despite financial relief measures to restructure or refinance overdue payments made available by the pandemic, BanEcuador has failed to collect debts older than five years, even before COVID, and an embargo process has been launched against these debtors.
These are loans that exceed $20,000, and to those who received them, this public entity assures that it contacted them without favorable answers, which is why legal measures were taken: coercion and confiscation, and after that an online auction portal for seized property was launched . . These auctions will take place in July.
In July, BanEcuador will conduct online judicial auctions of real estate and land in five provinces of the country
BanEcuador identifies those who have outstanding debts to this public institution for more than five years as “large debtors who, using a public bank loan and without payment, caused the amount of placement of more funds to be reduced to small entrepreneurs,” he said in a statement.
The difference is that these processes have nothing to do with those micro, small and medium-sized entrepreneurs who are affected by the pandemic and weather conditions. Kome shows that he continues to support various products of the institution: a loan with an interest rate of 1% with a repayment period of up to 30 years known as 1×30, a loan of 5% with various payment facilities such as financial relief.
BanEkvador has two options for losses due to rains and floods: agricultural and livestock insurance and emerging SOS loan
90% of his loans are up to $20,000. They “will not be affected in any way by this measure, which is implemented under strict legal parameters and with complete transparency.”
The subject sought information about these processes on his social networks in order to prevent the creation of chaos and misinformation.
The auctions announced by BanEcuador will take place between July 6 and 20. It is about real estate and land distributed in five provinces in the country: Manabí, Sucumbíos, Chimborazo, Guayas and Azuay. Appraisal values range from $7,000 to $800,000, depending on the entity.
Source: Eluniverso
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