In the not-so-distant past, I was engaged in export business. I remember being very dedicated to it, putting all my efforts into achieving great success through exports. However, an incident occurred that caused me to lose all my assets.
I recall being extremely angry in the early days, unable to make the right decisions. I filed a complaint against the person who had taken my money, and I faced a severe liquidity shortage. To resolve this issue, I approached the bank and requested a loan. Given the good turnover of my account, the bank agreed to my request and provided me with the loan in exchange for a guarantee.
I repaid the first loan on time and applied for a second one. Due to my good credit history, I received the subsequent loan as well.
At that time, when I purchased and exported the product, its price dropped significantly in the destination market (about $25 per ton). I also remember that the dollar’s value decreased substantially. Unfortunately, this resulted in a huge loss that I couldn’t recover from.
I entered into negotiations with the bank, which led to extensions upon extensions, and accumulating interest. In the following years, I was forced to take out additional loans from the same bank. However, when the calculations were done, I realized there was a significant discrepancy between the bank’s calculations and mine. Despite this, I had no other option. The bank provided me with another loan and simultaneously used that amount to settle the previous loan.
At this point, I could no longer continue. Not only did I not receive any of the loan amount, but my previous debt had also grown into a much larger one. I was left without any options.
I saw everything I had slip away. After 15 years of hard work, not only did I not reach zero, but I went into negative territory.
At the same time, I was struck by a severe illness that left me unable to work for a year. Time was passing against me, and I was completely desperate, willing to do anything to get out of this situation. I was so internally shattered that it led to family conflicts and many other difficulties. I went through many tough days.
Around that time, I found out that one of my friends, whom I hadn’t heard from for years (a high school classmate), had become a lawyer. I went to him for advice. He guided me and told me that to solve this problem, I needed to consult a specialist in banking disputes. He then referred me to his colleague, Mr. Arabnezhad, who specialized in banking litigation.
Mr. Arabnezhad, a banking disputes lawyer, suggested that I take legal action against the bank and explained each violation the bank had committed. I was reluctant to do this because I felt that since I had taken out a loan from the bank, I should repay it at any cost. I discussed this with a few friends, and they all advised me against it, saying I would definitely lose a legal battle with the bank.
After consulting my friends, I brought the matter up with Mr. Arabnezhad again and expressed my concerns about what other options I might have if we were unsuccessful. He told me that the longer I waited, the worse it would be for me. If I didn’t take action now, the bank would eventually move to collect its debt, and it would seize all the documents I had put up as collateral.
I thought about this for a few days and concluded that if I sued the bank and, with the help of a banking lawyer, won, it would be a great outcome. If I didn’t get a favorable ruling, I would be back where I started. So, I went back to Mr. Arabnezhad’s office and asked him to file a lawsuit against the bank. The bank, in response to the lawyer’s actions, moved to collect its claims, but Mr. Arabnezhad, with his experience, was able to stop the bank’s actions.
The judge issued an order for expert evaluation, and my case was referred to an expert. When I read the expert’s report, I realized that from the beginning, the banking lawyer had accurately identified the bank’s violations. I am currently waiting for the verdict to be issued.
If you are facing a similar issue, I highly recommend that you engage a lawyer who has substantial experience and knowledge in banking disputes. To verify this, simply ask the lawyer to show you examples of rulings from their previous banking cases.
Remember, making an incorrect choice can lead to irrecoverable costs, at best.
