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#37374 - 10/16/02 06:38 PM Declining stock values
Princess Offline
New Poster
Princess
Joined: Jun 2002
Posts: 4
We have a situation whereby the stock collateral has declined significally and the consumer will not acknowledge letters or phone calls. Can we do right of off set?

Thank you!

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Lending Compliance
#37375 - 10/16/02 06:42 PM Re: Declining stock values
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,860
Bloomington, IN
Look at your Loan Contract. The Right of Off Set is a contract issue. If you contracted for it, then I would say yes you can per the provisions of your contract.
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The opinions expressed are mine and they are not to be taken as legal advice.

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#37376 - 10/16/02 08:07 PM Re: Declining stock values
Andy_Z Offline
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Andy_Z
Joined: Oct 2000
Posts: 27,769
On the Net
These clauses are not uncommon in loan agreement covenants. I agree with "d" that you need to look there first.
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AndyZ CRCM
My opinions are not necessarily my employers.
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