Retirement Planning Calculator  Click Here
Casinos Deutschland    

Do You Think PTPTN Defaulter Should Be Barred From Travelling Overseas?

PTPTN loan

As we known, those students who borrow PTPTN loan are mostly coming from low to middle class people. At the end of the day, most of them will end-up working with public and private sector, and there’s a minority of them will work as high level people. I personally do not agree PTPTN barred loan defaulters from traveling overseas. Instead of that, we should sit down and think of other alternative that can help them to pay during this current economy situation.

barred from travelling

Besides that, barred defaulter from travelling overseas cannot really solve the problem as some of defaulter may works as travel agents, journalist and etc that require to travel overseas every month.

What Action Will Be Taken If Loan Defaulters Refuse to Payback?

Firstly, their names will be submitted to the Immigration Department after sending out numerous reminders and warnings by the PTPTN.

Based on the actual PTPTN’s loan collection system, students will receive their first notice to start their repayment 6 months after graduation. Then, second and third reminder will be sent out after 30 and 60 days, respectively, if the first notice was ignored.

The lawyers will then send a Letter of Demand 30 days after the final notice. If there is still no acknowledgement, the defaulters’ names will be published in newspapers.

30 days after that, debt collectors will be appointed by the Special PTPTN Loans Recovery Team to take action against them. But sadly, the only thing that they’re doing now is just barred the defaulters from leaving the country only.

Hence, I feel that the authorities should do something and it’s time to enforce strict rules and take a legal action on those who never payback the loan in order to help thousands of other Malaysians who still pursue their higher education.

My Suggestions:

Firstly, the authorities can collaborate with EPF and immigration to trace the loan defaulter whether they still alive, currently employ or overseas PR. If found that they have healthy financial management but still refuse to payback the PTPTN loan, then they can:

i. Blacklist them from applying credit card, car loan, housing loan or any loans from banks.

ii. Collaborate with company to cut monthly salary of the employee who is PTPTN defaulter.

iii. Charge them in court

Tags: , , September 20th, 2010 Posted in Finance Tips, Loan | 8,189 views

8 Responses to “Do You Think PTPTN Defaulter Should Be Barred From Travelling Overseas?”

  1. Chong Kong Hui Says:

    Action MUST be taken against those refuse to pay on time on schedule.

    No excuse should be accepted.

    A loan is a loan, must be repaid.

    More action must be taken if the collection or repayment is not good.

    Yes, ban them from buying property, ban them from travel oversea and more action to force these people to pay back the debt due to “the next generation”.



  2. Anti Says:

    How difficult could it be if the authority really wanted to make sure repayment ? We all know it is because of “political consideration” that certain “people” think they have “special rights” to not repaying back the money, simply because they opine that they “have been living in this country very long”. Just ask the authority to publish the list of defaulters, then you will see that truth.



  3. Chong Kong Hui Says:

    Anti,

    You are absolutely right!

    It is an “open-secret”!!!



  4. Clinton Giovanetti Says:

    Ping back from my blog. Would it be ok for me to post it and link back to you?



  5. simpoon Says:

    I think that an unfair government will continue to do unfair things as the education system is one-sided and unpaid loans are normally absorb as NPL (in banking) and our government absorb them by increasing water tariff, fuel price, utilities, toll rates, assessment rate and not to mention the list can be as long as you lived. ORDINARY PEOPLE EARNING WAGES AND SALARY are living in hell with Pemboros Ruling The Country.



  6. Sarah Says:

    PTPTN defaulters should be blacklisted to prevent them from applying for any loans in the future. I believe the gov use our EPF investment (maybe others as well such as SSPN) to fund PTPTN.



  7. simpoon Says:

    This MTFKR are so arrogant with the PTPTN finance graduate working with my client always ignore us when doing business, making appointment, collaborating service for their investment protection, ignorance, negligence and arrogance is what I can define them from the gomen top to toe.



  8. Monk Says:

    Why we should pay , when certain group of people with special right didn’t pay in a first place.



Leave a Reply

XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>