This would depend entirely on the specific situation. We would be unable to provide any information on this. Commercial banks may be able to say how much they recover from repossessions.
Answered by: the Bank of England
- What is your bank’s policy regarding defficient products bought with consumer loans? Do you stop demanding interest payments?
- Do banks actually lend money to people?
- When insurers (like Heidelberger-Leben) won’t fulfill their legal obligation to provide information (about riester contracts and basic pension plans) unless they are repeatedly asked to do so by clients, to whom can consumers address their concerns?
- What happens with the foreclosures of properties by banks?
- Who carries out stress tests and how do they work? How does the institution responsible for implementation know that they work?
- Who decides how much risk can/ should a client take?