By: Staff writer
The financial challenges associated with an economic downturn can lead to distressing consequences, with asset repossession being one of the most concerning for consumers.
In response to this, Brian Katjaerua, the CEO of the Bankers’ Association of Namibia (BAN), encourages effective communication to prevent repossession, asserting that banks are generally open to collaboration with consumers to find positive resolutions.
Katjaerua advises consumers struggling with vehicle or home loan obligations to proactively contact their bank, fostering a conversation that may mitigate the impact and present an opportunity for both parties to work towards a solution.
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