Failure to repay policy bank loans due to fraud Request for supplementing the subjects to be delayed or rescheduled


VCN – In recent years, voters of Thua Thien – Hue province have proposed amending Decision No. 50/2010/QD-TTg of the Prime Minister dated July 28, 2010 on the promulgation of the regulation on settlement of debt at risk at the Social Policy Bank in the direction of supplementing a group of borrowers of the Vietnam Bank for Social Policies (VBSP) who are deceived, resulting in an inability to repay debts subject to being delayed, deferred or cancelled debt in accordance with regulations.

failure to repay policy bank loans due to fraud request for supplementing the subjects to be delayed or rescheduled
Borrowing money at Vietnam Bank for Social Policies (VBSP). Source: Internet

Regarding this issue, the Ministry of Finance said, on debt extension, Decree No. 78/2002/ND-CP of the Government dated October 4, 2002 on credit for the poor and policy beneficiaries stipulating borrowers who have not paid their debts on time as committed for objective reasons will be considered by the VBSP for debt extension.

The authority to implement debt extension is decided by the VBSP. Therefore, the Ministry of Finance proposed the National Assembly delegation of Thua Thien Hue guide voters to work with the VBSP to be considered for debt extension.

Regarding the proposal to consider amending Decision No. 50/2010/QD-TTg, currently, based on the direction of the Government leaders and opinions of voters, the Ministry of Finance has worked with the VBSP and other ministries and sectors to issue Report No. 172/TTr-BTC dated November 27, 2019, Official Letter No. 3561/BTC-TCNH dated March 26, 2020, Official Dispatch No. 10651/BTC-TCNH dated September 3, 2020 and Official Letter No. 14841/BTC-TCNH dated December 2, 2020 and submitted to the Prime Minister for consideration and signing for the promulgation of a decision amending and supplementing a number of articles of Decision No. 50/2010/QD-TTg.

The general principles when amending and supplementing Decision No. 50/2010/QD-TTg include: objective reasons considered for debt settlement must be typical causes and really caused by objective factors. At the same time, there must be sufficient grounds for authorities to certify to avoid taking advantage of policies; if the debt is risky for subjective reasons of the organisation or individual in borrowing money from VBSP, the organisation or individual causing the loss must compensate in accordance with the law.

Based on the above principle, the Ministry of Finance is submitting to the Prime Minister for additional consideration in some cases where customers borrowing money from the VBSP are cheated, resulting in an inability to repay debts, to be considered for risk settlement.

“The appropriated debts which the occupant died, disappeared and had no assets to repay the debt; debts to be recovered under court judgments or decisions but the judgment creditor has not been able to execute judgments in accordance with notices of law enforcement agency yet.”

In cases where customers who borrowed money from the VBSP were cheated due to other reasons, the Ministry of Finance requested the delegation of the National Assembly of Thua Thien Hue province guide voters to work with the police to be considered, handled and compensated in accordance with regulations.

By Hoài Anh/Thanh Thuy

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