Loan from the bank matters?

I loaned from a bank and was not able to have my full payment, though i almost have paid the whole amount. Due to interest it rose up to higher amount to date.My last payment was 3 years ago and since then the bank stopped reminding or collecting payment from me, until im now here in a foreign land. The bank has recently sent summon to my family there in my country to let me pay a very huge amount. they are giving me only 3 days to comply with my payment, otherwise, they shall move to sherrif our properties. Is this rightful of them? Do they have the all the right to do this?Will it take effect right away without due process? I am not physically present there and I never recieved any notice when i was still in our place in 3 years time. Is there a way for me to solve this problem other than paying?And they said they would blocked me from my coming out of the country once ill go home, have me black listed in all the banking system..could they righfully do this to me? Pls help me..i need immediate answer.Thank you very much!

you can contact your bank to restructure your debt, here in the Phil you are guaranteed of non imprisonment by debt, just dont' issue a bouncing check that is bec that is already a criminal case, anyhow,

No the bank could not garnish your properties that easily without filing a case in court ( civil case) against you.a final declaration is needed from the court by the bank to do that in your property. just to be fair to the bank just try to settle your account, they could file a civil case against you for Solutio Indebiti and they could get or garnish the property that you left here in the country, that is the only legal action that the bank can do.

no it will not affect your status as an OFW if they file a Civil case against you. your husband should talk to the manager and not an agent only and go for restructure program of the bank. have them placed it in a paper for legal documentation. goodluck :) http://answers.yahoo.com/question/accuse_write?qid=20091119200017AAgeVWD&kid=AJJ6BVT2UDhjZKwirmf5&s=comm&date=2009-11-30+22%3A46%3A48&.crumb=

They want their money. It is a debt that is owed to them , therefore you must pay it. Call the bank and ask if you can settle the debt. They may do it for pennies on the dollar. It wouldn't hurt to try. Try to negotiate with them.