Is It True That The Loan Debt Can Hang? This Is The Answer

Illustration of pinjol (Between)

YOGYAKARTA In the midst of the widespread lending of online money on a platform that provides cash loans, a question arises that is often asked by the public, namely is it true that borrowing debt can be destroyed by itself?

Loans or online loans refer to borrowing activities that are fast as well as easy because the debtor simply deposits an ID card or other identity. The process that is passed by the borrower also only takes a matter of hours at the earliest and within the longest days. This convenience makes some people tempted because they can access capital loans quickly.

Unfortunately, many problems then arise, for example, debtors do not make payments according to the obligations of the receivable debt they submit. However, there are also creditors who apparently violate the rules in practice. The question then becomes, can the public's debt to the loan platform be scorched?

Regarding this, Mahfud MD while serving as Coordinating Minister for Political, Legal and Security Affairs (Menkopolhukam) had said that people who have loans to illegal loans do not have to pay their debts.

He also explained that victims of illegal borrowing who experienced extortion or other unpleasant acts committed by illegal loan collectors could even report them to the police.

"If you don't pay, then someone doesn't accept it, is terrorized, report it to the nearest police station. The police will provide protection," Mahfud said at a press conference at the Kemko Polhukam Office, Jakarta, Tuesday, October 19, quoted from VOI.

However, it is another story if the loan is made at a legal loan provider company aka meets the requirements and rules supervised by the Financial Services Authority (OJK) and has a permit from the Indonesian Joint Funding Fintech Association (AFPI).

In the Financial Services Authority Regulation Number 10/POJK.05/2022 of 2022, it is stated that loan operators may collect directly within 90 days. Then what about after?

Quoted from the AFPI website, fintech companies use third parties to collect borrowers who exceed the delay limit of 90 days. In addition, fintech lending companies are also allowed to make several efforts, one of which is to appoint a legal representative and apply for legal action in the name of a financier to a loan recipient

For information, OJK plans to intervene loan data owned by the public on the fintech platform to the Financial Information Service System (SLIK) or previously better known as BI Checking. With this integration effort, public debt arrears are not scorched but recorded on SLIK.

SLIK is an information system under the OJK that is used to monitor and provide financial-related information. KLIK will also provide information about borrowers (iDeb).

That's information related to the fact that the loan debt can be burned. Visit VOI.ID to get other interesting information.