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 Late Charges, Who should pay for the late charges?

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TSR8lover
post Jul 30 2015, 12:07 AM, updated 11y ago

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Hi All,

I Need Heeelppp~~~ cry.gif

Regarding the late charges.
I got a little bit of problem when come to late charges to vendor.

Lawyer A (Lawyer Appointed by Loan Consultancy)
Lawyer B (My S&P Lawyer)
Lawyer C (Lawyer Appointed by Public Bank)

Here is the stories.

I got my loan from one of the loan consultancy.
I got offer from Public Bank, So I agreed to take the loan, I plan to use my own lawyer for Loan and S&P, But loan consultancy doesn't allow me to use my own lawyer, so they appointed their own lawyer (Lawyer A), and I get my own lawyer (Lawyer B) to process S&P parts.

S&P Signed on 30th April 2015
Loan Agreement signed with Lawyer A on 29 April 2015 (Paid to Lawyer A)

So the Lawyer A submitted my application to Public Bank. Public bank refused to use the Lawyer A to process my loan for unknown reason, so Public Bank appointed his own panel lawyer (Lawyer C) to process my loan without inform me. vmad.gif

Lawyer A claim to be, they only received the document and bank instruction from Bank and Lawyer A on 4th June.

What is the progress now?
Owner Bank return with the strata title to Lawyer B.
Then Lawyer B will advise Lawyer C to process the last payment redemption from the bank.

I'm calling them all day and all night to chase them like hell. cry.gif

So now, the whole process supposed to be end 3 months times on 31 July 2015. who is going to bare the interest? icon_question.gif

This post has been edited by R8lover: Aug 12 2015, 06:57 PM
TSR8lover
post Jul 30 2015, 09:45 AM

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Joined: May 2012


QUOTE(truelife @ Jul 30 2015, 06:56 AM)
It is always advisable to use the same lawyer for SPA and Loan Agreement, for easier coordination and speedy documentation, provided that the lawyer who prepares the SPA is a panel lawyer of the bank approving your loan.
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Yes. Originally i planned to use my own lawyer for loan and SPA. But the Debancco don't allow me to use my lawyer. sad.gif that why caused all these issue.

 

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