Salary advance,mid term n long term loans have been stopped henceforth UFN to all its 57,200 members. Members to note too that they should endeavour to re-pay their loans as the loan contract stipulated…
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Ati atia!!!..
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can’t teach wont teach! donge? but no worry, the paybill number will come in handy…
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Na KING on his way to States. @Alai what say you?
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“Kama neighbour yako ni mwalimu, mpee contribution yako direct so as to avoid transaction charges”
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Nilisema strategy ya gava nikusotesha hawa walimu. Ngoja tuu…nxt itakuwa walimu disowning sossion na warudi class
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The next thing is TSC will stop deducting the KNUT contribution from every teacher’s salary and pass the obligation of making the contribution to the teachers. KNUT will die!
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Kwanza the ones with bank loans watalia machozi, the bank doesn’t care whether you were paid for that month or not. The monthly remittances must be paid. And if you default for three months, they recall the loan and demand you repay the whole loan amount.
The government has a hand in that one
I don’t think you are right. These are personal loans where the security is just your salary. That’s why their interest rates are high. If you default, the best they can do is kukubembeleza to repay.
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lol this is why im waiting for the other VERY big shoe to drop for kenyans who have defaulted on unsecured loans. This is what happens and will eventually happen to most of those who think they can default on an unsecured loan …
First, the bank will leave you alone for like 2 - 3 … maybe even 4, months.
Then, they will start calling you and sending emails and looking like they’re making an effort to get you to pay. All this time, they’ll be documenting their “efforts” to get you to honor your end of the deal.
THEN, they will leave you alone after like 10 months to a year (maybe even more). Meanwhile, they’re searching for your “worth” on all kinds of databases to find out if you own property, have a business, get any kind of income etc ALL THIS TIME, your penalties for defaulting and interest rates will be piling up.
You? You’ll be living it up like you ain’t never gon’ have to pay for no loan! YOU GOT AWAY WITH DEFAULTING YAAAAAAAAAY!
FINALLY, one day when you’ve forgotten you walked away from a debt of Kshs. 500K, you will receive a court notice (if you’re lucky, if not, it’ll be an auctioneer) informing you that your lender has provided concrete evidence that you defaulted on your loan on purpose and that the penalties for breaking this contract plus all the charges which have accumulated over time amount to … wait for it … 3.5MILLION!!! :D:D:D:D:D:D:D:D Walked away from 500k and ended up with an oak tree shoved up your azz!
P.S
This is what happened to those of you who thought all those HELB loans were a gift lmao … niccurs payin’ out their azz 4 years after the fact!
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Kuna kitu inaitwa CRB boss
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I doubt. Kumbuka Mwalimu Sacco have a massive project ongoing in Upper hill & they wouldn’t want to be in a situation where they are cash flow constrained
On this walimu issue the gover should have accepted and moved on
Kindly read what @Nefertities has written and keep it in mind, whether it applies to teachers, you or any one else with an unsecured loan. There’s nothing like kumbembelezwa. A bank never loses money like that, and woe unto you if they iniatiate their recovery process. All the costs including debt collectors and auctioneers will be fully borne by you.
I have read what @Nefertities has written. But trust me, when you default on an unsecured personal loan because you don’t have income, the bank itakubembeleza na ukikataa kulipa they take you to CRB and that’s it. They will never come for your property. But I agree with you, a bank never loses money easily, that’s why all loans are insured.
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Is it worth it kuhema juu ya Sossioni?
Not worth it at all.
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Thank you sana, Bwana! What an advice! Wacha mtoto saa hii Hii apeleke hii finje kwa teacher Penina!
:D:D:D
economic warfare,hapa waalimu hawatoboi