Agribank HCMC Branch has just announced the simultaneous auction of two debts of two individual customers, Mr. Tran Anh Tuan and Ms. Vu Thi Toan. Not only do they owe money, the two customers also owe a large amount of SJC gold, causing the loan to generate interest beyond their ability to repay.

Agribank had put these debts up for sale in 2023.

According to Agribank Ho Chi Minh City Branch, Mr. Tran Anh Tuan's loan arose from two credit contracts signed in 2008. As of March 31, 2023, the outstanding contract balance on May 2, 2008 included: principal balance of more than VND 14.8 billion; gold interest of 977,764 SJC taels; VND interest of VND 7.76 billion.

For the contract dated January 9, 2008, the principal balance is 16.95 billion VND; gold interest is 1,117,436 SJC taels; VND interest is 8.88 billion VND. In total, Mr. Tuan's debt is about 62.32 billion VND.

Of which, principal balance is 31.76 billion VND; gold interest debt converted to VND is more than 13.92 billion VND; VND interest debt is 16.64 billion VND.

Interest continues to accrue until Mr. Tran Anh Tuan has fully paid off the principal of the loan.

VCB gold (2).jpg
Illustration photo: Nam Khanh

Mr. Tuan's collateral includes house ownership and land use rights at addresses 158/9 and 158/15 Nguyen Cong Tru (Nguyen Thai Binh ward, old district 1) and 84 Tan Dien A hamlet, Phu Huu ward (old district 9), HCMC.

Regarding the debt of customer Vu Thi Toan (debt 2), the book value of the provisional debt as of March 31, 2023 arising from the credit contract signed on February 5, 2008 includes: Principal balance of nearly VND 9.5 billion; converted gold interest debt of VND 9.221 billion; VND interest of VND 7.666 billion. Total: VND 26.383 billion.

Notably, Agribank said that Ms. Vu Thi Toan's debt currently has no collateral.

Although the total book value of the two debts is approximately VND90 billion, the bank said the starting price of the entire two debts is only VND42.35 billion.

Of which, the starting price for the auction of Mr. Tran Anh Tuan's debt is 31,837 billion VND. The starting price for the auction of Ms. Vu Thi Toan's debt is 10,512 billion VND.

The above debt is auctioned in its original condition (including the original condition of the debt, legal status and potential risks) and in the "as is" manner.

According to the debt file information provided by Agribank, in 2016 the bank sued these two customers at the District 9 People's Court, Ho Chi Minh City. After many adjudications, in 2017, the District 9 People's Court issued a decision to recognize the agreement of the parties. In 2022, the Thu Duc City Civil Judgment Enforcement Office (Ho Chi Minh City) issued a decision to enforce the judgment on this civil lawsuit.

Source: https://vietnamnet.vn/khach-no-100-luong-vang-sjc-khong-chiu-tra-ngan-hang-tim-cach-thu-hoi-2469268.html