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Client Says National Bank Lost her Loan Payments

A client and former employee is claiming her loan payments have disappeared for a six months period a few years ago, and the bank has no evidence of the money being received. Katrina Young showed the media evidence of wire transfers of payments and she also said that while she was an employee of the National Bank she was approved to have a three percent interest on those loans so she was also surprised to find out she was being charged at the market rate. Young is living in Jamaica but returned to Belize to attempt to clear up the matter since the Bank is still charging her accrued interests and for outstanding amounts that it cannot find in its system.

Katrina Young Says National Bank Lost her loan payments: “Upon leaving the Bank I was informed that the bank has no record that I was approved to have a staff rate for my student loan so when I started to work at the bank I applied for a student loan to pay for my degree that I did in Jamaica. It was approved and about 8 months after it was approved the staff rate was then approved by the board of directors so I applied for the staff rate. Upon leaving they told me they had no record that, that staff was approved as an employee of the bank and so I have to pay the market rate so lucky for me I had the evidence. I printed out a copy of the approval from the then Assistant general manager and that is the only way they had to no choice but to adjust my loan at the bank however it only gets worse. For the period of January 2015 to July 2015 they cannot locate 6 months of my payments while I was employed at the bank and that money was deducted from my salary every single month; not by me but by the finance manager at the institution.”

Young says recordkeeping regarding her payments and account appears to be non-existent. Relevant files are missing and she continues to have issues with the banks and that costs in the thousands of dollars.

Katrina Young Says National Bank Lost her loan payments: “If you cannot find six months of my payments just check the HR records they should be able to have it. They cannot locate the money so they decided to take monies that I was sending to pay for both of my loans and apply it to that one loan to make up for those six months that they cannot find so that is another issue. If I did not have have proof that the staff rate was approved at 3% I would have had to pay up to 14% for that loan because that is the consumer rate that they are offering now which I think is so unfair. I don’t think the burden of proof should have been on me to actually show that I have a record that you don’t have so that speaks to their record keeping. Not only that; even though the money that was being deducted from my salary was equivalent to the staff rate; when they applied the payments to my loan it was being applied at the market rate so my student loan has always been in arrears. As of December 2015 when I resigned from the bank all my accounts were up to date because if I had any outstanding balances they would have deducted it or I would have had to sign an agreement with someone saying that I agree to pay but however I did not know the funds were missing until after I left the bank. I asked for a statement and when they provided me the statement it had the six months gap so payments are just missing from January 2015 up to July 2015; no explanation. I came back to Belize in December 2016. Went to the bank; they told me I had an outstanding arrears of over $6000 Belize. One of the loan they are saying $10,000 and the other is $7000.”

Young says she had initially contacted an attorney last year but she hoped the issue would have been settled amicably by now.