Interest Verification Service

IRAC’s business model is premised on one fact; that banks, like any other business concern, make mistakes in their handling of Loans, Overdrafts, Mortgages and other accounts. Banks, as a matter of fact, do have a window period whereby they invite the borrower to confirm the accuracy of the transactions as reported on the bank statements of account.

We use our robust tool, the IRAC Credit Verifier! to pick out the questionable charges and to analyse the statements according to the terms of your Banking Facility Contracts and according to the various Laws that govern banking.  In Kenya, these laws are The Central Bank of Kenya Act, The Banking Act, The Consumer Protection Act and The Land Act.

At the end of the exercise, IRAC produces a report that clearly shows whether your lender has overcharged or undercharged your account.

Our reports are admissible in court thereby making them effective in providing Litigation Support to advocates.  These reports are tailored to suit the specific jurisdictions within the East African region.

IRAC also provides advice on banking issues, where to bank, negotiation of terms of banking, what to look out for and verification of finance costs (interest charged and other finance costs).

What next? Get in Touch with us NOW.  Let us discuss your particular issues.