I sensed a little bit of self-pitying, "it's not my fault the bank loaned me money" (made popular during the recent US housing market crash), but the bank is also being very shortsighted, IMHO. They've given him(?) a take it or leave it choice to make, and a person in that (unemployed) circumstance is most likely just going to leave it.
If that happens, then there would be two failures: the first would be related to a default on a lawful debt and the second would be related to bad risk management on the part of the bank. One does not excuse the other...