That’s a very disheartening story, Nathan. I have little time for most banks;
I’ve had bad experiences with them in the USA, the UK and the Netherlands.
Even my ethical bank, the Co-op, has been found wanting — in the practices of
some of the previous management.
I wish that young family and her parents all the luck that they can find.
Chris
> On 1 Feb 2015, at 08:26, Nathan Wajsman <photo@xxxxxxxxxxxxxx> wrote:
>
> Sonia and Paco are a young couple with two small daughters. Some years ago,
> when both had jobs, they bought a home, worked, and made their mortgage
> payments without any problems for 5 years. Then the crisis hit, Spain’s
> unemployment rate soared to 25%, and both of them lost their jobs. After some
> months, they were unable to make the mortgage payments and the bank
> foreclosed on them. But because of the fall in property prices, their debt
> exceeded the value of the house, and so the bank is trying to collect the
> remaining debt of 35,000 EUR by garnishing part of Sonia’s parents’
> pension—they had co-guaranteed the loan when the mortgage was taken out. The
> couple and their daughters now live with Sonia’s parents, but with the bank’s
> demands the entire family is on the verge of falling into extreme poverty.
> Supported by a local NGO that campaigns against the banks’ predatory
> practices, they have set up a camp outside the BBVA branch next to the
> Mercado Central. I went there yesterday to have a look and a chat and to
> document it. They have now been there for 28 days. Their demand is that the
> bank stop garnishing Sonia’s parents’ pension.
>
> Two snaps. First, the overall view of the encampment:
> <http://www.greatpix.eu/All/Picture-A-Day/4253606_kdsZ6C#!i=3853988458&k=3zcKkQz&lb=1&s=O
>
> <http://www.greatpix.eu/All/Picture-A-Day/4253606_kdsZ6C#!i=3853988458&k=3zcKkQz&lb=1&s=O>>
>
> People signing the petition in support of Sonia and Paco and in general
> demanding that the law be changed so that the debt is extinguished once the
> house is taken by the bank:
> <http://www.greatpix.eu/All/Picture-A-Day/4253606_kdsZ6C#!i=3853988612&k=GJs77dK&lb=1&s=O
>
> <http://www.greatpix.eu/All/Picture-A-Day/4253606_kdsZ6C#!i=3853988612&k=GJs77dK&lb=1&s=O>>
>
> And yes, I signed also. I am no populist but the banks ARE greedy bastards.
> Just this week, 78 executives of another bank have been charged with
> fraud—they had been given “black credit cards” by the bank which they could
> use freely, and of course this little fringe benefit was never declared to
> the tax authorities.
--
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