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 [WTA] Cancelling an approved loan, do you really get blacklisted by BNM?

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sunshine66
post Jun 21 2018, 11:21 AM

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I have question here...i have applied housing loan and it was approved. I have signed it. I also have paid the annual insurance for housing loan.

However, the monthly bank loan has not yet started.

If let say, i want to cancel the loan before the montly housing loan payment started..is it possible?

How much is the penalty? I tried to ask the bank agent, but he seems not to answer my question. He keeps saying, he is not sure how much is the penalty.

For your info the interest is 4.96%.

Anyone has this kind of experience?? Really need your help.
Haziq Miskam P
post Sep 15 2019, 09:39 PM

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How to cancel my personal loan application? I ddint sign any agreement yet . Asking the company that i asking for the lom, they said i need to go to legal firm to get the letter of cancellation and go to LHDN ti get the stamp duty. Is it necessary to do that? Help me... how much the legal fee to get the letter
ratloverice
post Sep 18 2019, 12:50 AM

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QUOTE(Haziq Miskam @ Sep 15 2019, 09:39 PM)
How to cancel my personal loan application? I ddint sign any agreement yet . Asking the company that i asking for the lom, they said i need to go to legal firm to get the letter of cancellation and go to LHDN ti get the stamp duty. Is it necessary to do that? Help me... how much the legal fee to get the letter
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What does LHDN have to do with personal loan...?

Mind telling us more about the firm and the application process? Why do you want to cancel?

Anyway, since you mention that you applied the personal loan from a COMPANY, did the agent tell you to pay any upfront fees/legal fees/any fees prior to disbursement of loan?
woozidannn P
post Nov 18 2020, 03:41 PM

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Hi. I applied personal loans from Maha Money Makers Sdn Bhd and i want to cancel the loans. The office staff told me that if i want to cancel i will be blacklisted in bank and BNM, is that true? And they said i will be blacklisted because i cancel after the agreement was done but I didn’t even sign or received any agreement. And they said if i want to cancel i have to pay RM450 for penalty fees, RM540 for stamping, and before I apply for the loans they ask to pay RM720 for agreement on hold. I already paid RM720 and RM540 to them but now they ask me to pay RM450 for penalty fees. If I didn’t pay for the penalty fees will i get blacklisted?
Anyone please help to me about this. I don’t know what should i do now.
woozidannn P
post Nov 18 2020, 03:43 PM

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Hi. I applied personal loans from Maha Money Makers Sdn Bhd and i want to cancel the loans. The office staff told me that if i want to cancel i will be blacklisted in bank and BNM, is that true? And they said i will be blacklisted because i cancel after the agreement was done but I didn’t even sign or received any agreement. And they said if i want to cancel i have to pay RM450 for penalty fees, RM540 for stamping, and before I apply for the loans they ask to pay RM720 for agreement on hold. I already paid RM720 and RM540 to them but now they ask me to pay RM450 for penalty fees. If I didn’t pay for the penalty fees will i get blacklisted?
I don’t know what should i do now.
MUM
post Nov 18 2020, 03:49 PM

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QUOTE(woozidannn @ Nov 18 2020, 03:43 PM)
Hi. I applied personal loans from Maha Money Makers Sdn Bhd and i want to cancel the loans. The office staff told me that if i want to cancel i will be blacklisted in bank and BNM, is that true? And they said i will be blacklisted because i cancel after the agreement was done but I didn’t even sign or received any agreement. And they said if i want to cancel i have to pay RM450 for penalty fees, RM540 for stamping, and before I apply for the loans they ask to pay RM720 for agreement on hold. I already paid RM720 and RM540 to them but now they ask me to pay RM450 for penalty fees. If I didn’t pay for the penalty fees will i get blacklisted?
I don’t know what should i do now.
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they will continue to ask and ask again.....until you can be brave enough to ignore their threats.

if you are scare and have alot of money in you bank...just continue to pay and pay and hopefully they will stop asking for more.

if you don't know what to do, go to police station or BNM
DenshaOtoko
post Mar 8 2021, 11:02 PM

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Hi. I have a situation that my car loan has been approved. It's a new car. I did inform the car dealer my preferred car color so he will reserve a stock for me.

At this point i haven't paid any booking fees and didn't sign any offer letter. My loan is full loan.

But I had a second thought that i want to cancel the deal because i want to keep my current ride until it's paid off.

How should I tell the dealer about this without making him angry?

I am not worry about the approved loan because i can cancel it any time at this stage.

Just a bit scare to tell the dealer.

Need some advices. Thanks
timmychin
post Dec 10 2021, 10:53 AM

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From: Petaling Jaya


Hi, i have tried to apply for loan for a used car few months back but my company affected so they announced paycut (but didn't in the end) and i got 3 banks approved my car loan but i did not proceed with it. 4 months later the loan amount still shows on my CTOS score as Approved pending signed. Will it stay there for a long time?
genesic
post Dec 10 2021, 11:24 AM

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QUOTE(DenshaOtoko @ Mar 9 2021, 12:02 AM)
Hi. I have a situation that my car loan has been approved. It's a new car. I did inform the car dealer my preferred car color so he will reserve a stock for me.

At this point i haven't paid any booking fees and didn't sign any offer letter. My loan is full loan.

But I had a second thought that i want to cancel the deal because i want to keep my current ride until it's paid off.

How should I tell the dealer about this without making him angry?

I am not worry about the approved loan because i can cancel it any time at this stage.

Just a bit scare to tell the dealer.

Need some advices. Thanks
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If the model is hot stock and selling like hot cake, the dealer should be able to sell it off to another buyer quickly. worst still, they forfeited your booking fee
by normal practise, upon cancellation, you should be able to get back your booking fee refund within the time frame set by the car dealer.




 

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