When the start of the school year pushes Moroccans into debt

The approach of the start of the school year and the end of the summer holidays often rhyme with the use of bank loans to enable Moroccan parents to provide for the needs of their children. And, the banks are engaged in very strong competition.

Rushing to apply for bank loans as the school year approaches without thinking carefully beforehand could have disastrous consequences. Some people who apply for consumer loans from banks may encounter financial or health problems, or circumstances that prevent them from honoring the remaining instalments, says Mustapha Barhioui, legal advisor at Rue20According to his explanations, the bank, as a creditor, initiates legal proceedings against the borrower to recover the balance of the loan, either by auctioning the property under the so-called mortgage enforcement procedure, or the recovery procedure in the case of cars.