Since you are in the banking business I'm kindof surprised I really need to explain this to you but...
A bank makes loans or offers of credit based on laws and regulations (right or wrong) and they aren't required to offer Quang any credit... Given these rules part of the risk of loaning money is the risk of default and judging Quang's post my guess that his rates and terms
strongly reflect this perceived risk... Again the bank isn't required to loan money but by doing so they agree to
certain legal stipulations designed both to protect the lender and the borrower (obviously the bank's political lobby is much stronger then Quang's but we will ignore this since you wanted to discuss Quang's situation specifically)...
Legally while the bank has rights to help collect, Quang also has rights... Some of
this include that open debt isn't collectible after x number years (as low as three years depending on your state), the debt much be verifiable (if the bank writes off the credit to someone else they have to be able to show they legally have the right to collect), and Quang can enter into agreement to settle for a
lesser amount or, in some cases, get the entire amount canceled... This is all part of the framework of the original offer of credit (which again the Bank wasn't required to offer) but they agreed to it by entering into a contract with Quang...
In other words giving credit isn't as simple as we loan you money and you pay it back under any and all circumstances... If the bank doesn't want to loan someone money they don't have to play the game but if they agree to play they can't pick and choose what rules they like and part of the scenario (right or wrong) is that in numerous cases Quang has the right to stiff the bank on
part or all of his debt and this doesn't change regardless if Quang isn't from United States, chain smokes all day and gambles and drinks away all his money (since the bank were the one's who decided to lend him money under these rules)..
If you reread all my posts, until you decided to troll the thread off-topic, I only suggested that Quang find out the real rules (and offered some examples that he might not have considered) as we both know that banks and collection agencies are going to use them to their
full advantage (or ignore them if they think Quang isn't educated about them - which, of course, Quang could counter-sue for if the unlikely happened and things actually went to court)...