Secondly, even if the borrower fails to repay the loan principal and interest on time, the bank needs to conduct a series of procedures and investigations to determine the borrower's repayment ability and financial status. If the bank thinks that the borrower has the repayment ability, the bank will generally communicate with the borrower for dunning first, instead of asking the guarantee company for immediate compensation. This is because banks hope to solve the problem through consultation and avoid unnecessary economic losses.
3. Finally, in practice, compensation from guarantee companies is not necessarily the first choice for banks. This is because the compensation of the guarantee company involves certain formalities and procedures, which may consume time and money. Banks may be more willing to recover from borrowers or take other measures to protect their rights and interests. Only after a certain period of collection, the bank will consider asking the guarantee company for compensation when the creditor's rights cannot be recovered.
To sum up, the main reasons why banks don't seek compensation from guarantee companies in time are: guarantee companies are not the direct debtors of loans, and banks need to conduct investigation and collection procedures, and compensation may involve certain procedures and expenses. When dealing with the borrower's inability to repay the debt, the bank will take appropriate measures to ensure its own interests according to the specific situation and loan contract, taking into account various factors.