Banks blackmail clients with Swiss franc loans, threaten to seize apartments

Some banks have started blackmailing clients who have loans in Swiss francs and threatening them with seizure of their apartments, “Blic” reports, as carried by the Patria news agency.

Citizens in Serbia whose loan installments have been increased by up to 80 percent by banks are facing a new ordeal. In recent days, banks have begun sending them blackmailing calls with the message that if they do not accept one of the offered solutions for loans in Swiss francs, they will lose their roof over their heads, as well as their money.

- They told me that I had not paid two loan installments and that they would terminate the loan agreement if I did not accept one of the models, but I will not because it is not profitable for me. The banks are offering solutions that would reduce my installment by five percent, while my installment has increased from 350 to 570 euros from 2008 until today - says a source who wished to remain anonymous.

He also notes that the blackmail came by phone and that the bank refused to inform him about it in writing.

The central bank has, in fact, offered four solutions for loans in Swiss francs, and so far only 1.5 percent of citizens with such loans have accepted one of the easing repayment models.

President of the Banking Clients Association “Efektiva” Dejan Gavrilović warns of the consequences.

- Termination of the loan agreement first means that the banks put your apartment up for sale, and then the possibility of suing you for the difference between the price achieved in the sale and the amount of the loan they gave you. Citizens who took out a loan of 70,000 Swiss francs in 2008, or 43,000 euros, will lose their apartment, but also 15,000 euros, which they have so far repaid on the loan. The banks can now sell that apartment for 30,000 euros, so they have the right to claim the difference through a lawsuit - says Gavrilović for “Blic”.

The NBS says that banks do not have the right to terminate the contract if their clients do not accept any of the offered solutions.

- If a bank does not act in full compliance with the decision, users have the right to file a complaint with the bank, or the right to file a complaint with the NBS - the Central Bank says.