OCBC are blood suckers.

When you have been cheated and push to the wall, the last thing you want to see is your salvage solution been obstructed by the less likely party.

Ladies and gentleman, due to my folly...I have actually, with my name, brought a vehicle last year November for a guy I call Mr Lim. He was suppose to rent out my vehicle, service the monthly instalments and give me certain amount of interest every month. Sadly, Mr Lim seems to be a CHEAT and defaulted the instalments for many months. Although he assured me that he will clear the outstanding instalments soon, it was not done at all. I knew I was in trouble but I seriously could not have done anything at all as I am trap BETWEEN THE DEVIL AND THE DEEP BLUE SEA. If I take back the car, I will not be able to pay the instalments of 680++ a month. If I allow him to carry on renting out the car, I am not sure if he will clear the instalment at all. Eventually I prayed to god hoping everything will go on smoothly and trusted him one more time.

2 months ago, I recieve a Statuory Demand letter from OCBC telling me the settle the full amount of the loan (S$65K) or face a Bankruptcy Petition against me. That moment I really woke up! The instalments was not pay at all!!! For 9 straight months!! Have to take action before its too late to save my own ass. Manage to get the car back and send it back to the finance company. After estimation of the car value by the bank, it came out to be a miserable sum of 30K only! Which means I still have a liability of 35K to clear base of the figures OCBC gave me. I hire a friend of mine to source for buyers to buy the vehicle at a higher price from OCBC since in the LAW I have the rights within 14 days to find someone who can offer to pay higher price than what OCBC gave. Found one dealer willing to take in the car at S$41K and call and wrote to OCBC immediately for approval.... thats when things start to get really really messy.

OCBC agreed to allow the vehicle to be sold at 41K which will reduce my liability to just 24K but on condition that I fork out half of whatever outstanding amount at the point of transaction which is 12K. Otherwise it was a NO NO to sell the car. I have earlier thought that everything will be smooth going when dealing with OCBC but NOT AT ALL! Right now, I have the oppurtunity to reduce my liability and this was the F***king reply the bank gave me. They should have logically knew that by allow the sales of the car at 41K, it will help me a lot in term of liability but instead OCBC reach into their bag of tricks and firmly want 12k from me or else there is no deal at all. Which means they will, by themselve auction the vehicle in the future without my inteference. Auction, as learn from certain experts in the field, will yield a very low value from the car...lower than 41K.

Now I just don't understand what is in their mind right now to stop me from selling car at the moment. Its not as though I am not going to pay the outstanding amount since I still have a stable job and a substantial sum in my savings. I think the bank just want to see some money. They would rather reject me and sell the vehicle at a auction than allowing my buyers to purchase the car. This is totally ridiculous. OCBC is really the last party that I will expect to push me to the walls. My letter to them (which I will reveal next time) have stated that I was been cheated and stuff like that and I am suffering from depression and have to seek consultancy. It was really well wrote with the help of a friend but it does not seems to earn any sympathy from them.

In the end, they counter offered me with their own buyer who is willing to buy the car at S$42K but still required me to come out with a reduce amount of 10K to get the deal through. I have since contacted the new buyer (A women) but luckily for me she is a close acquintance with OCBC and oblivious to the fact that 10K need to be paid on the spot to close the deal. I will be signing document to authorise her to buy the car at 42K but will not be forking out the 10K on that day. I am just betting on the fact that OCBC will not turn down her transaction due to the close relationship they both have.

Anthony is the name I hate very much now as he is the point of contact at OCBC. I called him almost everyday for the past 3 days. I suspect he is trying to get a raw deal out of me with his negotiation skills over the phone.... No wonder OCBC logo is in red....blood...suckers...