daniel1987
New member
I got the loan 50k from bank and did not pay the bank for 2 months continuously. The bank did sue me in year 2015.
Now year 2019, i would like to do the full settlement.
When i got the redemption letter, the amount i need to pay is 8k plus other fees.
The story begins:
I received the notice of demand cum termination. Please refer to link
[link removed]
The total claimable amount 65k is included interest as my loan amount is 50k.
In the letter, it mentioned failed to settle the amount demanded would result in automatic termination of the said facility.
Let's say i signed the loan with 7.68% interest per annual for 5 years tenure and the bank terminated the facility after one year as i did not pay in time.
It means bank should only charged me the interest for the first 4 months (as they terminated me afterwards) and not 5 years right? in the hand, i need to pay them the compensation charge (1% per year) from the due date up to the date of full settlement. Please correct me if i am wrong.
During the court case in year 2015, i did pay the repayment. Even after the court case, i continue pay them every month without fail. After the court case, the bank never look for me to discuss or sign anything.
This month year 2019, i would like to do settlement and i found that the charged me 2K plus for other fee which i believe it was the court cost.
Please refer to the link.
[link removed]
My questions are:
Can i argue with the bank : since they terminated me, i should only pay the principal 50k plus cost incurred in the court plus the compensation charge plus the interest for the 1st 4 months ( I got the notice of demand cum termination after 4 months of the loan approved).
Up to now, i already paid 61K and going to pay them 8k for full settlement. I feel not fair for me as they keep quiet and said nothing and continue collecting the interest and now asking me to pay the court fee in the end.
I am ok if they terminated me and asked me to pay the cost fee, principal, compensation charges without charging me the interest for 4 years and 8 months.
Thus, is it logic i questioned the bank regarding this issue? Can i consider myself overpaid as they already terminated me and it means the bank did not want to do business with me (earning the interest). then why they continue to collect the interest?
Next, can i ask them to waive the other fees?
Thanks for the reply and the help. I do not know if my thought about this is correct or not, need you guys to help on this matter before i go to the office and talk to them.
Again, Thanks.
Now year 2019, i would like to do the full settlement.
When i got the redemption letter, the amount i need to pay is 8k plus other fees.
The story begins:
I received the notice of demand cum termination. Please refer to link
[link removed]
The total claimable amount 65k is included interest as my loan amount is 50k.
In the letter, it mentioned failed to settle the amount demanded would result in automatic termination of the said facility.
Let's say i signed the loan with 7.68% interest per annual for 5 years tenure and the bank terminated the facility after one year as i did not pay in time.
It means bank should only charged me the interest for the first 4 months (as they terminated me afterwards) and not 5 years right? in the hand, i need to pay them the compensation charge (1% per year) from the due date up to the date of full settlement. Please correct me if i am wrong.
During the court case in year 2015, i did pay the repayment. Even after the court case, i continue pay them every month without fail. After the court case, the bank never look for me to discuss or sign anything.
This month year 2019, i would like to do settlement and i found that the charged me 2K plus for other fee which i believe it was the court cost.
Please refer to the link.
[link removed]
My questions are:
Can i argue with the bank : since they terminated me, i should only pay the principal 50k plus cost incurred in the court plus the compensation charge plus the interest for the 1st 4 months ( I got the notice of demand cum termination after 4 months of the loan approved).
Up to now, i already paid 61K and going to pay them 8k for full settlement. I feel not fair for me as they keep quiet and said nothing and continue collecting the interest and now asking me to pay the court fee in the end.
I am ok if they terminated me and asked me to pay the cost fee, principal, compensation charges without charging me the interest for 4 years and 8 months.
Thus, is it logic i questioned the bank regarding this issue? Can i consider myself overpaid as they already terminated me and it means the bank did not want to do business with me (earning the interest). then why they continue to collect the interest?
Next, can i ask them to waive the other fees?
Thanks for the reply and the help. I do not know if my thought about this is correct or not, need you guys to help on this matter before i go to the office and talk to them.
Again, Thanks.
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