2007-09-30 05:58:22 · 3 answers · asked by I dont know 4 in Business & Finance ➔ Credit
The only thing I can think of is that they are compromising. example: if somebody has a 3k overdraft and has no way to pay it back and the bank will lose 3k. The bank may chose to offer to write off some debt so that atleast they make some money back. so if they write off 1.5k that is 1.5k that they would not have had in the original situation. For a bank legal costs to recover the money another way would probably be too much to be worth it. :o)
2007-09-30 06:27:15 · answer #1 · answered by kimararkim 2 · 1⤊ 1⤋
I worked for a bank and the reason why they may offer a percentage of overdraft is based on your relationship with the bank as well as how many other overdrafts you have had in the past..this decision is decided by a computer program not the rep...only supervisors can override the decisions
2007-09-30 18:39:30 · answer #2 · answered by RTZ 2 · 0⤊ 0⤋
They might 'write(part of) it off' within an IVA agreement ....
.. the only 'offer to pay off an Overdraft' I have every come across from a Bank would be connected to a Mortgage Advance ./ Equity Release plan ..
2007-09-30 16:58:04 · answer #3 · answered by Steve B 7 · 0⤊ 0⤋