Comments on: You Don’t Have Bargaining Powers With Banks http://finmats.com/2007/11/20/you-dont-have-bargaining-powers-with-banks/ Financial Facilities, Insurance and Legal Tips and Information Fri, 29 Jul 2011 05:00:24 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: pablopabla http://finmats.com/2007/11/20/you-dont-have-bargaining-powers-with-banks/comment-page-1/#comment-121 pablopabla Mon, 02 Jun 2008 01:41:13 +0000 http://finmats.com/2007/11/20/you-dont-have-bargaining-powers-with-banks/#comment-121 <b>robbed</b> : Sorry to hear about your predicament. From whatever brief facts you mentioned, I can only assume that there might be a clause in the loan agreement which stipulates that fluctuation in the interests (BLR or late payment) might lengthen the loan period. Still, I would advise that you go through the terms with a fine comb to see if there are any clauses which might result in the lengthening of the loan period. Refer your matter to the FMB if you have not done so. robbed : Sorry to hear about your predicament. From whatever brief facts you mentioned, I can only assume that there might be a clause in the loan agreement which stipulates that fluctuation in the interests (BLR or late payment) might lengthen the loan period. Still, I would advise that you go through the terms with a fine comb to see if there are any clauses which might result in the lengthening of the loan period. Refer your matter to the FMB if you have not done so.

]]> By: robbed_client http://finmats.com/2007/11/20/you-dont-have-bargaining-powers-with-banks/comment-page-1/#comment-120 robbed_client Mon, 02 Jun 2008 01:08:23 +0000 http://finmats.com/2007/11/20/you-dont-have-bargaining-powers-with-banks/#comment-120 I read about your writeout about the consumer's bargaining power with banks. I have a recent experience of this concerning my land loan with a malaysian bank. I took up a loan with the bank for 7 years and to my surprise I was told before the end of the loan that the repayment period is not 7 but 9 years! I was obviously outraged and making numerous complaints to the bank via phone calls and was like an idiot being pushed aside until I lodge a complaint to Bank Negara and still the bank's reply to my complaint and letters did not even answer my complaint! Bank Negara has recommended my case to Finance Mediator Bureau. I need to seek opinions out there with any similar encounter and what is the best way to handle this??? Please advise.. I read about your writeout about the consumer’s bargaining power with banks. I have a recent experience of this concerning my land loan with a malaysian bank. I took up a loan with the bank for 7 years and to my surprise I was told before the end of the loan that the repayment period is not 7 but 9 years!

I was obviously outraged and making numerous complaints to the bank via phone calls and was like an idiot being pushed aside until I lodge a complaint to Bank Negara and still the bank’s reply to my complaint and letters did not even answer my complaint! Bank Negara has recommended my case to Finance Mediator Bureau. I need to seek opinions out there with any similar encounter and what is the best way to handle this???

Please advise..

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