Sue to recover study loans-Star Online

Wednesday October 14, 2009

Sue to recover study loans

 I REFER to “YB Debtors” (The Star, Sept 25). Blacklisting defaulters is mere punishment and not a recovery effort. I am one of those who have been punished. According to my contract, I was to pay RM192 monthly for 10 years beginning December 2002. I delayed in repayment due to job uncertainty. After several reminder notices, I requested PTPN to allow me to pay RM300 monthly so that I could settle the loan faster. However, the officer who attended my request had only one answer for me, that is, I needed to settle the principal and other administration charges in one lump sum to avoid being blacklisted. I was puzzled why PTPTN should make it difficult, knowing that borrowers would not be able to pay in lump sum. The PTPTN officers completely rejected further negotiation, and recently, I was barred from leaving the country by the Immigration Department. I do not know how many others of the 26,000 defaulters are in similar straits but if PTPTN’s ultimate aim is to recover the outstanding loans, it should take court action against defaulters rather than barring them from leaving the country. THE PUNISHED, Kuala Lumpur.

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