The bank refuses to pay off the loan because it is under audit. What should I do?

HOANG DUC(Hai Duong City)

Reply:

Article 463 of the 2015 Civil Code stipulates: A property loan contract is an agreement between the parties. Accordingly, the lender transfers the property to the borrower. When the payment is due, the borrower must return to the lender the property of the same type in the correct quantity and quality and must pay interest if agreed or prescribed by law.

Payment obligation:

1. The obligation to pay must be performed in full, on time, at the agreed place and in the agreed manner.

2. The obligation to pay includes interest on the principal, unless otherwise agreed.

Obligations of the mortgagee:

1. Return documents to the mortgagor after the mortgage is terminated in cases where the parties agree that the mortgagee shall keep documents related to the mortgaged property.

Accordingly, when the debt repayment deadline according to the contract comes, you have contacted the bank to fulfill your debt repayment obligation in accordance with the law. The bank is responsible for returning the mortgaged property to you.

However, the bank's excuse that it is conducting an audit, arbitrarily extending the repayment period, returning the mortgaged property, and forcing you to pay additional interest without your consent is illegal.

To protect your rights, you can send a complaint to the State Bank Inspectorate, stating your case and request to the bank with which you have transactions. The State Bank Inspectorate will perform its functions and tasks to resolve your request and complaint.