Understanding Debtors' Rights - Abusive Practices and Legal Protections
Published on 25 August 2022If borrowers understand the abusive activities that are sometimes committed against debtors and their legal rights with regards to MFI debt, it can help them protect their rights and interests under the law.
This video will show you some actions that violate debtors’ rights, as well as the code of ethics of banks and microfinance institutions. The video also mentions the legal procedures that can protect the rights and interests of both debtors and lenders, in case the debtor is unable to repay the loan.
Remember that no one has the right to pressure or force you to sell land or a house to repay debt outside the legal system.
To avoid abuse, you should be aware of your rights.
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