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Young man in court for defaulting on CIBC FirstCaribbean Intl Bank loans

- ordered to repay balance of $7K @ a rate of $400 per month
Glenmore Johnson has been ordered to repay loans to CIBC FirstCaribbean International Bank at the rate of $400 per month. Photo: VINO/File
ROAD TOWN, Tortola, VI – A young man received a strong reprimand from Magistrate Ayana Baptiste-DaBreo about hanging his hat where his hand can't reach, as he is now in a pickle to repay loans taken from CIBC FirstCaribbean International Bank in the amount of over $7,000.

Appearing before the Magistrate on Friday June 10, 2016, in a civil proceeding, Glenmore Johnson admitted to taking the loans and being in default.

The Magistrate made an order for him to repay the two loans he had outstanding at a rate of $400 a month in total until the balance was paid in full.

According to the facts of the case, the loans were taken in 2013.

Johnson told the court that he was paying back the loans at a rate of $300 a month but the personnel from the bank said that this amount was not enough to ensure that the loans are repaid in a reasonable time. The bank said they preferred a payback rate of $500 per month.

However, the Magistrate made an order for the sum of $400 to be repaid by the defendant to cover the two outstanding amounts.

“Have you ever heard the expression don't hang your hat where your hand can't reach? Why did you take loans that you know you cannot afford to repay?” she chided. In response Johnson said he lost two jobs in succession, resulting in his predicament.

13 Responses to “Young man in court for defaulting on CIBC FirstCaribbean Intl Bank loans”

  • Xxx (11/06/2016, 10:18) Like (30) Dislike (4) Reply
    these bank need to be investigated for some of these predatory loans bottom line
  • hat (11/06/2016, 10:30) Like (16) Dislike (0) Reply
    I can't believe you leave me up here...after all we been through
  • Hmm (11/06/2016, 11:35) Like (10) Dislike (2) Reply
    sounds like predatory loans
  • dog (11/06/2016, 12:39) Like (13) Dislike (2) Reply
    So many people in this ptedicument
  • time will tell (11/06/2016, 17:21) Like (3) Dislike (1) Reply
    I can't see how this is good for us and the little man...these backs got us by the balls .
  • Can't pay? (11/06/2016, 23:17) Like (3) Dislike (1) Reply
    Don't borrow!
  • Hmmmmm (12/06/2016, 04:34) Like (5) Dislike (1) Reply
    Slow news day?
  • $$$$$$ (12/06/2016, 23:35) Like (5) Dislike (0) Reply
    People should start boycotting these BANKS That is what they respond to - money.
  • Jenyk (13/06/2016, 07:26) Like (8) Dislike (1) Reply
    These banks are ridiculous, they didn't have to take that poor boy to court. Banks think they are the law, has anyone seen Scotiabank sign now.. they refusing to serve you if you wear a hat, a cap, sunglasses, hoodie, answer your cell phone, what crappie is this, where is the government in all this? They going tp soon stop serving us who have gold teeth in our mouths. Only in the BVI
  • concern (13/06/2016, 10:22) Like (4) Dislike (1) Reply
    I'm sorry, but when these banks are giving loans, don't they look at debt to income ratio before they determine the amount they giving - or are they looking at their return with interest... really sad. How could he be allowed to take a loan, they told him $500 a month and he surprised but still got a loan.
  • Not adding up (13/06/2016, 11:32) Like (2) Dislike (0) Reply
    How is it that the bank is declining his amount of payback at 300 because they want 500 but still gave him the loan, that makes absolutely no sense. Doesn't it make more sense to get paid rather than to not get payed at all....and if he was already defaulting on one amount, why grant him another. smh if this isn't a set up then I don't know what is.
  • Bad Call (13/06/2016, 11:54) Like (2) Dislike (1) Reply
    That was a bad call on the Magistrate’s part. When the Bank granted him the loan did they not assess his total debt service ratio? They must have known he did not qualify. Talking crap but they prefer a payback rate of $500 per month. Those banks just like to put people in debt to make their books look good to their bosses, and not trying to help people at all. You can’t trust them.
  • wow (14/06/2016, 12:18) Like (1) Dislike (0) Reply
    This type of information that the BVI is selling to the public is what makes me thank God everyday for making the decision of leaving. If this case was handled in the U.S Mr. Johnson could sue them for defamation. A Loan agreement has it property and procedures and it seems to me that the BVI has not improve in the court system. There is some distension to be made in this case. One and for most how to distinguish between a criminal act and a civil act. Clearly if he has been making his contribution no bank personnel can reprimand his account. There is something called compliance and one of things this aim in seeking that banking clients information remain confidential. I am not applauding that you did not keep your promise to pay in full; however, there is a systematic way of viewing this case. Sorry to say that the Virgin Island needs to come at par with the rest of the world, the system is falling behind.


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