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Aiqon Capital Debt Purchase: Is it true they bought the non-performing loan from my bank?

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asked on May 4, 2012 at 17:45
by   ex credit card user
edited on Jun 11, 2016 at 03:21
 
Debt purchase allows clients to sell their debt portfolios directly to Aiqon Capital, which becomes the owner of the debt portfolio and seeks to recover any outstanding monies from the defaulting customer

- from Aiqon Capital website -
I got a call from Aiqon saying that I owe them because their company bought my non-performing loan (NPL) account from SC bank. So is it true because my Standard Chartered credit card NPL account now claims by them? Anybody got same case with me? I can't afford to pay as I am only paid RM500 - RM600 per month and I don't have any fix job.
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answered on May 11, 2013 at 00:35
by   William
Can try "Financial Mediation Bureau"

http://www.bnm.gov.my/index.php?ch=en_complaint_redress

Let us know your outcome
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answered on Aug 27, 2014 at 17:17
by   susah dan pening
edited Jun 11, 2016 at 05:59
 
We can understand that all debts must be cleared and all uncleared debts will have repercussions.

Similar situation but let me explain more and hopefully someone will enlighten me.
I've got a call few months back from the same company telling me that the SC Bank debt has been sold to them for the same amount that I have taken way back in 2006. That is despite the total amount that I have paid to SC Bank which is almost 50%. Unfortunately there was a period of time I was financially strapped so I wasn't able to meet my obligations. They have sent letters and also called almost non-stop until I agree to their terms.

I was surprised because I have not received any official letter from SC Bank on the transfer of the debt and that all future dealings for the account will be with Aiqon.
Despite numerous request for a copy of the letter, they have yet to produce to me.

Another thing is my SC Bank account is still active. Now if they have sold the account in 2011, this account should have been closed and all payments directed to Aiqon. Last check 2 months back, my SC Bank account is still active.

...and I am still waiting for a reasonable and practical answer to this. Still waiting, still paying.

I am extremely worried on this. Can anybody advise on this?
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answered on Aug 27, 2014 at 18:28
by   bunkerSC
edited Jun 11, 2016 at 06:00
 
SC Bank sold your debt, not your account.
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answered on Aug 28, 2014 at 01:56
by   vkpc
If 10 people call up and say SC sold your debt to them, you are going to pay 10 people?
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answered on Dec 29, 2014 at 20:21
by   Jazz
edited Jun 11, 2016 at 06:02
 
So? Are they legit or not? They gave me a letter with both theirs and Standard Chartered logo with no signature. Computer generated no signature required. I asked for proof that my debt was included in the 'bundle' they bought but they are unable to give me any.  Just a generic letter with a high court summons no. They keep insisting that my debt is in that bundle. Now keep chasing me to pay. I want to settle but what guarantee can I get that the letter of discharge is legitimate and no other companies is going to call me and say that they bought my debt?
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answered on Jan 5, 2015 at 21:56
by   Adrieza
edited Jun 11, 2016 at 06:09
 
Yes, Aiqon is legit debt company. The sister company is Mystique Straits, the company that I deal with. Yup, they purchased credit card debts from SC Bank. I had experience with them in 2012.

I had credit card outstanding with SC Bank and while I'm under Agensi Kaunseling dan Pengurusan Kredit (AKPK), I deal directly with a SC Bank officer. This was in 2011. Then in 2012, I managed to get some loan to pay off all my credit card debts and withdrew from the AKPK program.  Amongst all the banks that I owed, SCB was the only one that does not entertained me and to my dismay, the SCB officer in Credit Card Department told me that my account has been purchased by Aiqon Capital and I have to deal with Aiqon directly. I told her why must I deal with third party when my debt is with SCB.  She cannot answer me and said to call Aiqon directly.

Well, after some back and forth calls, faxes, emails and appealed, finally get some discount. I received a letter of confirmation for final payment. Since the amount was below RM3,000 and I don't want my debt with them piled up like along because that's what they like to do, I paid. I think I sent them about 5 reminders to request for 'Discharged' letter  but never get it. In the end I gave-up. But so far, my name is cleared at Bank Negara Malaysia (BNM) and CTOS. I still keep the letter from Mystique Straits though, just in case.
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answered on Jan 5, 2015 at 22:44
by   Mike
5 reminders to request for 'Discharged' letter.

They will not and cannot give you a letter. Your account is with the bank and under AKPK DMP. Your CCRIS and CTOS delisting is by the DMP not the bill collection agency.
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answered on Jan 11, 2015 at 13:18
by   Jazz
edited Jun 11, 2016 at 06:12
 
Thanks for the reply. I am still worried as they request me to pay RM20,000+. This is not a small sum which is easily earned. I'm scared that after paying, another company claim the same debt then how? Is there any way I can see the high court writ with the list of debts purchased to confirm if my name is in there? If they cannot give a discharge letter, can they give a confirmation of debt paid letter?
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answered on Jan 12, 2015 at 03:44
by   Jessica
edited Jun 11, 2016 at 06:13
 
@Jazz

Who are you directing the question to? There were so many who posted and may not be around anymore. Why don't you start a new post and give more details and ask more specifically? What "bundle" and what type of court letter was stated and any amounts. No amounts, no dates, we are more confused than you are!
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answered on Jan 18, 2015 at 03:24
by   Jazz
edited Jun 11, 2016 at 06:14
 
@jessica

Thanks for reply. Was hoping that people who actually have knowledge or had dealt with Aiqon before to shed some light on validity of their claims. Will go get the details and start a new post next week.
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