A licensed loan company acted ruthlessly by seizing a local man’s SUV over two months of unpaid instalments amounting to around RM3,000 and charging him up to RM16,000.
Haris, the victim, said his wife and three children were threatened by four men who took the vehicle and claimed they were acting on the company’s orders.
Excessive SUV Tarik Charges
Haris, who faced financial troubles, tried to negotiate but was given documents that demanded excessive fees for the operations to take the car away from the user. The incident highlights the need for fair debt collection practices and consumer protection laws in Malaysia, says the PPIM.
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