On the late afternoon of March 18, according to VTC News, lawyer Tạ Anh Tuấn, Director of Emme Law Company (Hanoi Lawyers Association) – the representative of Mr. P.H.A (Quang Ninh), stated that he is expected to work with the Export-Import Bank of Vietnam (Eximbank) Quang Ninh branch on the morning of March 19. This is regarding the case in which Mr. H.A. received a notice from Eximbank to recover a bad debt of nearly 8.5 million dong. The debt was incurred through credit card spending since 2013, with accumulated interest amounting to 8.84 billion dong.
Last week, Mr. Tuấn mentioned that he had received information and documents from Mr. H.A., but they were not sufficient and comprehensive. “We have to meet with Eximbank to get multi-dimensional and comprehensive information. This week, I will complete all necessary procedures. Next week, I will work with Eximbank,” he said.
Headquarters of the Export-Import Bank (Eximbank) Quang Ninh branch.
According to the information from Eximbank, Mr. H.A. opened a Master Card at Eximbank Quang Ninh branch on March 23, 2013, with a credit limit of 10 million dong.
The customer then made 2 payment transactions on April 23, 2013 and July 26, 2013 at an acceptance point. Since September 14, 2013, the outstanding balance on the card has turned into bad debt, accumulating over 11 years. Subsequently, the bank has taken multiple steps to recover Mr. H.A.’s debt.
“This is an overdue debt that has lasted nearly 11 years. The bank has repeatedly informed and worked directly with the customer. However, the customer has not come up with a plan to handle the debt,” Eximbank informed.
The bank emphasized that issuing a debt obligation notice to customers is a normal business activity in the process of handling and recovering debt. Up to now, the bank has not received any payment from the customer.
According to Eximbank, the method of calculating interest and fees in the aforementioned debt is “completely in accordance with the agreement between Eximbank and the customer based on the card application file dated March 15, 2013, with the customer’s signature. The regulations on fees and interest are clearly stated in the issuance fee schedule, card usage; and have also been publicly posted on Eximbank’s website.”
“Currently, Eximbank is continuing to work and coordinate with customers to come up with a plan to support them in debt resolution,” the bank further affirmed.
However, the customer himself claims to be a victim as he did not spend 8.5 million dong on any credit card and did not receive any early notice from the bank when he was in bad debt. In March 2013, the customer asked an employee working at Eximbank’s Quang Ninh branch to apply for a credit card, but in reality, he did not receive this credit card.
In the last meeting around mid-2022 at his home with bank representatives, Mr. A also requested clarification on indications of customer fraud by that employee.
Regarding this initial assessment, Lawyer Tạ Anh Tuấn stated that if it is true as Mr. H.A. has described, this case has issues with the card issuance process, especially the card delivery to customers. “It is very likely that the customer overlooked checking the card carefully. In the case of Mr. H.A., when he received the card, it was not a credit card, but a regular ATM card. In principle, when receiving the card, Mr. H.A. should have checked it carefully. Why he did not check it, what the truth is, must be clarified,” Mr. Tuấn said.
On March 14, the State Bank of Vietnam Quang Ninh branch issued a document requesting the Eximbank Headquarters in Ho Chi Minh City and Eximbank Quang Ninh branch to verify and clarify information related to this case and to inform the media agencies.
According to VTC News on the morning of March 19, the State Bank of Vietnam Quang Ninh branch has received and is reviewing a detailed report on the incident from Eximbank.
