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Netizen shared a Real Case where a RM0.01 balance in PTPTN turned RM515 debt after 6 years

Everybody knows the power of compounding interest, but nobody expected it to be this strong.

Recently, a netizen who remembers that her PTPTN loan had been settled, had a shock of her life when she received a warning letter from the National Higher Education Fund Corporation (PTPTN) for not settling her long overdue payment of RM515. They even said that legal action will be taken if she fails to pay up too.

However, according to her records, she have already settled ther loan on July 2015.

The netizen, Fateema binti Dzulkifli in her Facebook post shared a screenshot of the conversation between her and the official PTPTN Facebook page asking how could she possibly have an RM515 balance outstanding with PTPTN.

Source: The New Sarawak

Nonetheless, she shared how she tried to contact PTPTN through the various channels, including via e-mail and calls, but had yet go get any response from them. Finally, through the Facebook message, she got a response.

The PTPTN officer explained that her account had a balance of RM0.01 which accumulated to RM515 after 6 years. On the other hand, Fateema claimed that she paid the exact amount to settle the outstanding via her EPF account 2 six years ago.

As Fateema had discharge all her responsibility to the loan, she appealed the case and shared her PTPTN final statement. She the managed to contact a PTPTN officer, Encik Aizol via WhatsApp to discuss with the lawyer to not take any legal actions against her.

In addition, Puan Azlina, a PTPTN customer service officer had contacted Fateema to apologise for the whole matter and gave her assurance that the issue will be rectified and Fateema won’t have to pay anything.

Source: MalaysiaKini

Nonetheless, they explained that the whole incident started in April 2016, when PTPTN still uses a manual system and the officer in charge had accidentally included a 1 sen for Takaful services into her statement in the following month after she settled the loan. The officer may done this because the system was late to update the statement from their end, and Fateema got the statement which wasn’t updated.

Throughout the years, the 1 sen had accumulated to RM515 due to the interest and other costs which PTPTN charges for the loan including service and insurance. In addition, there were overdue payment penalty, and the all totals to RM515 after 6 years.

Back in July 2015, Fateema said she had waited for a month for the release letter from PTPTN but she did not received it. She even called PTPTN to issue the letter, in which they replied that it was still being checked. PTPTN had never come back to her for the matter.

Fateema then moved to Terengganu and she didn’t not follow up for the letter.

Surprisingly, PTPTN came back to her after 6 years and issued her a warning letter. In another Facebook post, she mention that the matter had been settled and she was not required to pay anything, plus, she got her release letter.

As a reminder to all, she said that the release letter is the upmost document that you should receive as an evidence that the loan is settled.

What do you think about this? Share your thoughts!

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