Can Debt Collectors Seize Debt Vehicles on the Road?

KOMPAS.com – Financial Fervices Authority (OJK) remind finance companies not to collect and confiscate vehicle customers who are in arrears on their installments on the streets, let alone use violence.

“In doing the collection there are ethics, if the finance company employs debt collector then it must be certified people,” said the Head of OJK West Sumatra, Yusri, as quoted by Antara Between, Saturday (29/1/2022).

According to him, if there is a finance company that uses violent collection methods on the streets, the public can report it to the OJK.

“We will give sanctions to the financing company,” he said.

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However, he also reminded people who have vehicle installments at financing companies that they must also fulfill their obligations by paying regular installments until they are paid off.

“Don’t let the finance company officers come to your house, instead, people in the village wait for them to use machetes so that in the end the officers can’t do the billing,” he said.

Finally, officers from the finance company were forced to stop and collect on the street.

On the one hand, finance companies must also collect installments from customers who have installments because otherwise they will experience losses.

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Yusri ensured that if the community as customers carried out their obligations properly, the case of confiscation of vehicles on the streets would not occur.

“On the other hand, finance companies must also prioritize ethics in collecting installments,” he said.

(Author: Ikhwan Wahyudi | Editor: Subagyo)

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