Astra credit companies<\/p>\n
Our foundation, Yayasan Pijit Berdiploma Indonesia, purchased
\ntwo Isuzu Panthers from PT Dunia Baru with a two-year financing
\narrangement. The vendor arranged the finance with two different
\nAstra Credit Companies.<\/p>\n
With both companies, the total amounts to be repaid were
\ninclusive of the prevailing flat interest rate for 24 months but
\nthe credit period was for 23 months. We were forced to pay the
\nfirst month's installment in advance.<\/p>\n
Our first vehicle (B 2061 FE) was bought in late October 1995
\non contract with Astra Multi Finance and payments are due on the
\n30th of the month. The second vehicle (B 1896 MA) was bought in
\nJanuary 1996 on contract with Astra Sedaya Finance and repayments
\nfor this car are made on the 10th of the month.<\/p>\n
We issued 11 accounts of Bank Lippo, Jakarta Tebet Branch, to
\nmake the first 12 months of payments.<\/p>\n
The two-year lease for our clinic in Jakarta expired in June
\n1996 and we bought a freehold, main road property. Our clinic was
\nrelocated to Puncak, Cianjur regency, in early July 1996.<\/p>\n
The high cost of relocation and extended period of reduced
\noperational revenues drained our finances and we had cash flow
\nproblems in the months of November and December 1996.<\/p>\n
The facilities we had with Bank Lippo were withdrawn and we
\nopened up a new account with Bank Danamon in Cipanas.<\/p>\n
A repossessor came to our clinic in early January 1997 to
\nrepossess one of the cars (B 2061 FE) for the shortfall of two
\nmonthly payments. This vehicle, however, was in Central Java.<\/p>\n
We went to the office of Astra Credit the next day and were
\ndirected to speak to an executive, Mr. Agus. We informed Mr. Agus
\nof our change of address and new bank. We gave him our new
\nbusiness cards and a stack of brochures which listed our new
\naddress and telephone numbers.<\/p>\n
We offered to issue a Bank Danamon cash check to pay for the
\ntwo overdue installments as well as new Bank Danamon gyros to
\nreplace those of Bank Lippo. Both were rejected by the cash
\ndepartment as the Bank Danamon we use is an outstation branch.
\nThe next day we paid the two outstanding installments, and all
\nthe exorbitant penalty charges, in cash.<\/p>\n
We informed Mr. Agus that when Mr. Harianto, of PT Dunia Baru,
\nrecommended and arranged for us to finance our purchases with
\nAstra Credit he told us that the credit company would not
\nrepossess the vehicles unless we were behind by three
\ninstallments.<\/p>\n
Mr. Agus advised us that the policy of Astra Credit is to
\nrepossess when the shortfall is two months on a 24-month credit
\ncontract if the borrower has not paid more than 18 payments. Once
\nthe 18th payment has been made, the vehicle will only be
\nrepossessed for a shortfall of three installments and, in any
\nevent, the borrower will be notified by letter prior to the
\nrepossession.<\/p>\n
We effected our monthly payments by telex transfer in the
\nmonths that followed.<\/p>\n
A repossessor from Astra came to the clinic at about 9 p.m.
\nearlier this month to repossess our other vehicle (B 1896 MA) as
\nwe were behind by three installments. We showed the repossessor a
\ncopy of our bank transfer made that morning for the month of June
\n1997 and we were therefore behind only one payment as the payment
\nfor the month of August was due on the 10th. We spoke to Mr. Agus
\nby phone the next morning and he asked us to fax him a copy of
\nour bank transfer, which we did.<\/p>\n
At about 8 p.m. on Aug. 8, another Astra repossessor came with
\nthe authority to repossess the first vehicle (B 2061 FE) for
\nbeing behind by two installments. The vehicle was repossessed
\nnotwithstanding the fact that we have already paid the 20th
\ninstallment, thus leaving a balance of only four more.<\/p>\n
We have given Mr. Agus our new address and phone numbers. Why
\nwere we not forewarned either by phone or by letter?<\/p>\n
MURTISARI<\/p>\n
Secretary<\/p>\n
Yayasan Pijit Berdiploma Indonesia<\/p>\n
Cianjur, West Java<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/astra-credit-companies-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }