I took a DBS study loan a few years ago for my polytechnic school
fees. My father had not been supporting my family since he ran away
to Malaysia when I was 14. My only elder brother left for Hongkong
to work since I was 16 and he pretty much has a life there
himself.
Since all my mother's CPF savings had gone into paying the
instalments for the flat we were staying in, I could not use her
money for my studies.
I started working since I was 14. I had endured the stress of
working and studying all this time until my call-up for National
Service five months ago. Sad to say, the work I did affected my
studies and I failed to graduate with a diploma.
It is stated in the contract, which I did not realise initially,
that when I fail to graduate, I have to pay the entire sum owed to
DBS Bank. I was at my wit's end. The amount came to $8,000.
I desperately looked for options from DBS Bank but to no avail. My
mother presently works as a cleaner. She hardly makes enough money
for the family. So when I went into National Service last September
our income fell greatly.
Luckily, one of the officers in DBS Bank agreed to help me look
into my appeal to defer the loan till after my National Service. I
had the impression that the repayment would be suspended
temporarily as I had already paid almost $500 for interest and
other charges last year.
That had already taken its toll on me. In October last year, driven
to desperation I went to one of the bank's branches and authorised
it to debit my account at $100 a month out of my $350 National
Service allowance.
I felt relieved as I thought the bank would allow me to spread out
my repayments. On January 10, I went to the teller thinking that I
would finally be getting my first pay packet that exceeded $350, as
I had just graduated from my recruit's phase.
But I found that my account had only $1 left in it. No one can
imagine how desperate I was. I called the bank, explained my
situation one more time and asked for the money to be credited back
into my account.
The officer explained that the deduction was for penalty and
interest payments. But she said she would ask for authorisation
from the higher authorities for the money to be put back into my
account.
Chinese New Year is coming. I wonder how much I can give my mum for
the new year with this meagre allowance and $1 in my bank
account.
I did not get any notice about the deduction from my bank account.
I could not think of anything but begged that the money be put
back, but the bank's higher authorities has said no.
I understand that DBS Bank is not a charitable organisation. It
runs a business but how can it debit from my account just like
this? Where's the sympathy that makes Singaporeans donate millions
of dollars into charity every year without fail?
I am not asking for charity here and I will not accept any charity
either. I'm just asking for a deferment till a better time to repay
my loan. What is $8,000 to DBS Bank? What is $400 to DBS Bank? I
have no idea how much it is going to deduct from my account in the
days to come.
Wan Ee Voon
This guy must be lying. After all, he is a MAN. From our dear AWARE
website, men earn 30 per cent more than women with a cut and paste
moustache. So how could he possibly face financial problems? he
should stop his bullshitting to the press.
