There are numerous instances of Sri Lankan finance companies abusing the law in a way that embarrasses and oppresses consumers. At the same time, people are dying because of the illegality of these companies, and more people are living without dying.
It is reported that there are currently more than 128,000 (one hundred and twenty eight thousand) people who have been subjected to such injustices. It is reported that the Central Bank has taken steps to provide relief to consumers until next March due to the effects of the existing Kovid virus. It has also been ordered not to even prosecute.
However, we have information that Commercial Credit Leasing, located at 106 Yatinuwara Street, Kandy, has filed lawsuits against creditors and their guarantors who have obtained leasing facilities from their company.
There is no law in Sri Lanka that allows bailiffs to be prosecuted and badly documented. But consumers do not know the law. Because of the cowardice that many others have and do not want to get into trouble. Therefore, a situation has arisen in Sri Lanka where the law is being made illegal and exploited.
In this case, the guarantors can also claim compensation when the sureties have been sued. Take the case to court and recover damages from the relevant companies for incurring hot embarrassment and misrepresentation and for insulting, insulting and stressful. Bailiffs must act in such a way. Such companies would not have acted illegally if the guarantors as well as the creditors had known that this is the law in Sri Lanka.
As a result of the financial companies’ actions, the previous governments were discredited and the present government is being discredited due to the current economic difficulties. But it seems that the problems of the common people are not properly reported to the ruling party and hence the governments are thus discredited.
