Housing Loan Complaints & Reviews

Housing LoanInterest raised with out information

Mental health patient in danger of losing home
Posted on 21 January 2013 by Teresa Yeo
220 20

Sajitkumar T K Vasudevan, 48, resident of Taman Nusa Indah Johor Bahru lost his job as production executive at Premier Vegetable Oil Pasir Gudang when his management discovered (after he was employed and not during the interview) that he was being treated for depression at the Permai Hospital.

Unable to make regular payments on his housing loan, he is now hounded by the bank and faces legal action for defaulting on his loan.

A clinically depressed Sajitkumar declared well by hospital.

In 2010, Sajit had taken a RM 195, 000 housing loan from Ambank.

The following year, Sajit was given to key to the street when his company discovered he was suffering from depression and had not truthfully declared his depressive condition when he applied for that job.

His application for SOCSO insurance was rejected.

His appeal to The Human Rights Commission of Malaysia (SUHAKAM) turned to naught.

Earlier in 2007, he had withdrawn RM 30, 000 from his EPF savings due to his sickness.

This time when he applied to withdraw his savings, it was rejected.

This is due the fact that Hospital Permai declared him not ill (tidak mengidap keilatan).

Sajit’s troubles escalated last year when he was unable to service the loan for four months.

As a result, the interest rate for his loan was increased from 4.9% to 9.1 %.

When Citizen Journalists Malaysia (CJMY) contacted AmBank, Liaison and Collection officer Hamidah Abd Rahman explained that the bank had clear rules about loan defaulters.

After four months of non-servicing of the loan, legal action would be instituted.

Sajit had appealed for leniency but the bank was unwavering.

By hook or by crook, he had to settle the outstanding loan and thereafter, service his loan for six months without fail before the bank could consider his case.

In his jobless state, he is unable to find RM 3, 000 per month to service the loan.

Hamidah advised Sajit and all those in the same dilemma to seek the assistance of AKPK (Agensi Kaunseling dan Pengurusan Kredit), the Credit Counselling and Debt Management Agency set up by Bank Negara which helps individuals manage their financial situation.

Sajitkumar is now at the end of his tether. In anguish, he laments, “There is no justice in this world.”

Sajit feels the society is pushing him against the wall. “People who are depressed are in a very unfortunate position because the public do not understand their complex illness.

“A seriously depressed person can be driven to suicide.

“They need encouragement and support, ” he said.

In addition, without financial assistance forthcoming, he may be driven to seeking for ”help” from Ah Longs and this could be the long, lonely road to his destruction.

The World Health Organisation warns that mental illness will be second to HIV/AIDS in the burden it places on the world by the end of this decade.

Records indicate that 9% of Malaysians suffer from major depression. Similar to global data, depression is the fourth most disabling disease in Malaysia, ranking third for women and 10th for men.

Sajitkumar is now at the end of his tether. In anguish, he laments, “There is no justice in this world.”
Johor Bahru
email : [protected]@gmail.com

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    Housing LoanNo disbursement

    Dear Sir/madam:
    This is the 2nd time I loadged the complaint for the same issue.We received letter of approval from bank lawyer K Nadarajah & partner acting on CIMB, Telok Panglima Garang, Selangor.for Property Pt41054, Mukim Dengkil, Desa Pinggiran Putra on 13 April 2010.We are yet to receive the disbursement frm CIMB till to-date.Can you take immediate action as ccc will be issued by this month.Thanks for your action.
    Chai Kheng Boon

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      The complaint has been investigated and
      resolved to the customer's satisfaction
      Housing LoanMaybank housing loan term and condition is just a joke

      Before i go further, i would like to share some of my background. I am a Johorian, and I am a happy house owner, just bought my first house about 1 and half year ago. and I gave my first try to maybank for my housing loan. The customer service officer talking to me was nice and friendy, and so i got approved for my housing loan, and of course i signed a agreement with bank.
      Everything seems ok until this fire insurance payment came in.

      first thing, as i mentioned this is the first house i being owned, and i don know, or i thought the fire insurance had been included within my MRTA, and i am sure that friendly customer service lady did not mention to me about this.
      second thing. Maybe u might ask, didn't they mail you a notification? the answer is yes, but that was sent to the house i used to rent. So after, 4 mths, i was realised about this letter when i pay him a visit. After that, i was told my installment amount will be revised, therefore i have to pay extra Rm300 for the rest of my tenure period.
      So, i explained to the customer executive in that particular branch.
      He replied me, i have to write a letter for this incident, and he will forward it to HQ, so i wrote a letter, and i asked him about the time needed to get a reply from HQ, he said it gonna take just 2 weeks. But after three mths (Rm 900 extra), the revision had not been done, so i went to look for him, and hand in another complain letter to the manager. Surprisingly, i got a reinstatement for my interest rate on that day. erm, i think you guys out there are thinking what i was think.
      So, the term and condition for my reinstatement is i will have to go through the interest schedule afresh. which is 4.88% for first year, and Blr - 1.85% thereafter.
      Just want to add something, due to i am paying extra for every month, so i asked him, would the extra money go for my fire insurance, and how sure are u, if the money i pay for fire insurance will not go for my principle? and is this written on the agreement? he told me this is their usual practice, don have to write on it, everyone know about this. then i become speechless..
      Another year has past, and i am reaching the interest rate BLR - 1.85%, that means for current BLR - 5.55%, i will get 3.7%. But strangely, the revision letter stated, the amount for installment is UNCHANGED!
      I called up customer service hot line, but she told me she cant access to my account for checking. At the end of our conversation, she asked me a irony question 'is there anything else i can help you'.
      I am wondering wat will happen for the rest of the tenure period, and i am determined to switch bank when the time is come. and Maybank is not the only bank, other banks like public bank will offer a phone call when i was late for payment, and not just sent u a letter and wait for penalty. plus, incompetent in answering customer's question..
      for pocket sake, i will certainly look for the officer over there, but how much time and energy do i have to spend on all this, can he answer my question? i am so fed up right now.

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