Following PSM’s intervention, the bank agreed to contact the real estate agency concerned to get back the house
KUALA LUMPUR: Parti Sosialis Malaysia (PSM) has recently helped a disabled man to save his house from repossession after he was rendered jobless following a motorcycle accident.
PSM secretary-general A Sivarajan said G Sundaram’s apartment in Shah Alam was put up for auction when he failed to pay his monthly installments after losing his job.
Sundaram had tried to settle the matter and sought help from the bank to speed up his insurance payout but the bank decided to auction off the apartment, he told a press conference today.
“Sundaram had tried his very best to solve the matter by handing over medical reports and also sought the bank to help speed up his insurance claim but after more than three years, the matter is still not settled,” he said.
He said that pending settlement of the insurance claim, the bank kept asking Sundaram to service his loan and settlle the arrears.
“The bank decided to auction off the house without considering that he has applied for the insurance claim,” he said.
He said the party wrote a letter to the bank and it apologised for what happened.
“The bank has taken responsibility to contact the real estate agency (concerned) to get back the house.
“The bank convinced and negotiated. They also discussed and expedited claims with insurance agents,” Sivarajan said.
Sivarajan added that PSM will send a memorandum to Bank Negara Malaysia (BNM) as it believed there were more cases like this.