Friday, August 7, 2020

Bank Tries To Squeeze Dad For Money, Dad Outsmarts Bank


If this were a chess match between the sleazy bank and dad, dad just pulled the checkmate on them. Good for dad for being financially literate. For another spicy tale of pro revenge, check out this story about a man who crank called his friend and ended up being served a fake paternity suit.

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Text - r/ProRevenge + Join u/Doujin_Connoiseur • 8h Try to squeeze my dad for his money, tough luck. He knows money. Apologies for the format because I'm on mobile yada yada yada. Also this is 2nd hand from my father and some words or phrasings may be mistranslated. The background: Back during the 1997 Asian financial crisis, Malaysia was hit pretty hard, especially the small independent banks. The prime minister at the time, Tun Dr Mahathir Mohamad, passed a bill to save the banking economy by

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Text - Under this, all larger banks that bought out the smaller independent banks must send an acknowledgement letter to the home loaners of their original banks stating the home loan change and must receive an acknowledgement from their new loaners, be it a signature, physical or digital. The story: My dad never liked how banks can legally rob people. For people like him who works the daily grind, having to pay the bank what is essentially 2 houses worth in interest payments over two or 3 decad

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Text - When my dad bought our family's first home, he got a loan from a small bank called DCB bank. All is well, until a few years later the 1997 financial crisis hit. As the small banks were bought out by the larger banks, many home loaners received acknowlegement papers on their new home loan payment plan and policies by their new banks. My dad for whatever reason never received this. He only knew that his original bank was bought over by the RHB bank corporation, and that he is now unofficial

4.

Text - RHB employer: I'm sorry sir. Even if you made a full settlement, you would still need to continue making payments for the interest. Dad: What do you mean? I have a home loan contract under DCB that states I can make a full settlement without paying for additional interests. RHB employer: True, but since you've acknowledged and signed under RHB- Dad: I've never received the acknowledgement papers. I never signed any papers from your bank, and all I have here is the DCB bank contract. RHB e

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Text - Dad: You have to send acknowledgement letters about the loan transfer, yes I know. What I want now is for you, RHB bank, to produce my signature of me acknowledging the new loan policy for RHB. As of now, my paper with DCB is still valid until you produce my signature. Cue one hour of the employer and her collegues scrambling around their files and databases trying to find any acknowledgement from my dad about their loan contract. At this time, the manager of the bank had called my dad in

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Text - Manager: I'm sorry Mr Muhammad, but you still need to make the interest payments, regardless of whether you make a full settlement. Dad: Alright. I understand. I'll just have take this up to Bank Negara (National Bank of Malaysia). Let them help you find that signature of mine. My dad had the bank manager at the balls now. Rather risking a potential million dollar lawsuit and possibly losing his job, he excused himself to make a few phone calls to upper management, which took about half a

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Text - All in all, my dad managed to secure himself a house, the housing grant and in the process screwed RHB bank of what is equal to USD60 000 worth of interest payments, which to a middle class Malaysian in 2007 is a retirement fund. TLDR: Bank's incompetence saved my dad a tonne of money in interest payments. Edit: Fixed typos and such. I've a problem with fat fingering my keypad.

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