Major Bank Admits Error After Homeowner's Complaint Over Wrongful Foreclosure Lawsuit Despite Zero Debt
Kasikornbank admitted it wrongfully sued a homeowner for foreclosure despite zero debt, citing inadequate legal review, and has withdrawn the asset seizure and will issue documentation clearing the property.
Following the news story, the homeowner met with Mongkolvit Runnunvorakul, manager of Kasikornbank's Savings Bank Chachoengsao branch, and Phetthai Suanjanchan, director of the debt management and control zone 11, who came in person to clarify the situation. The bank admitted the error stemmed from inadequate procedural review by their legal team, which failed to verify complete information despite the homeowner having already closed his account and received his property deed back. The bank has taken swift action and submitted a document withdrawing the asset seizure to the provincial enforcement office, while confirming that no foreclosure sale of the homeowner's property took place. Additionally, the bank will issue documentation certifying that there has been no seizure or foreclosure sale of the property to provide assurance to the affected homeowner and address any ongoing impacts.
