Waive accrued interest/profit on Hire Purchase during 6-month moratorium

Waive accrued interest/profit on Hire Purchase during 6-month moratorium

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Teresa C started this petition to Financial Institutions and

Initially, the 6-month moratorium on Hire Purchase Facilities was automatically granted, and no interests were to be charged.  Now, it seems there has been a u-turn on the terms of the moratorium, i.e. it is NOT automatic (we have to Opt-In), and interests will be accrued....why the change during this trying times when almost everybody is affected in all aspects, especially financially, by the pandemic?

The initial automatic 6-month moratorium without accrued interest was such a relief to the Rakyat.  I am sure the Rakyat were appreciative with such a relief measure initiated by the financial institutions.  But with current change in the terms of the moratorium, I am sure the Rakyat feel angry and misled in general.

Please consider reverting to the initial relief model if the financial institutions are really sincere in helping the Rakyat tide through this difficult and challenging time.  Please do not add more burdens on us.  This is very cruel and akin to daytime robbery.  Many of us are facing pay-cut, income reduction, and worst of all, loss of permanent income.  Please have mercy on the Rakyat.  This is the time that we need to hold each other up as opposed to taking advantage for own interests/benefits.

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