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Viral OJK helps pay off galbay pinjol debt, be aware of hoaxes!
Published on 30 Jan 2024
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Viral OJK helps pay off galbay pinjol debt, be aware of hoaxes!
The development of the financial technology industry better known as online lending (pinjol) is growing. However, it cannot be denied that some problems often arise related to irresponsible online lending practices.
Some consumers are sometimes trapped in a circle of debt that is difficult to overcome, triggering a default aka Galbay.
Galbay Pinjol
Pinjol Default is a condition where the borrower or debtor defaults on the online loan platform so that he is unable to pay off the debt and violates the rules of the agreement.
The rise of online lending platforms whose money is quickly disbursed with easy terms has made people careless about their financial capabilities.
Circulating Hoax about OJK to Help Pay Off Loan-Backed Debt
Recently, news about the Financial Services Authority (OJK) helping to pay off Pinjol's debt has gone viral on various social media platforms. However, OJK opened its voice regarding this matter. OJK denied and emphasized that the issue was a hoax.
The Facts Behind the Viral News
The news about OJK helping to pay off loan shark debts went viral because many consumers hoped to get help from this institution. However, it is important to look at the facts before believing and spreading the information.
Therefore, we need to check the truth of information and news through official websites.
OJK and Efforts to Handle Pinjol
OJK as a financial sector supervisory institution in Indonesia has an important role in overseeing and regulating the practices of loan sharking companies. In recent years, OJK has intensively made various efforts to protect consumers from the risk of harmful online loans.
OJK has launched various training programs and workshops in various regions to provide a better understanding of basic financial concepts, investment, and consumer protection. In addition, OJK also collaborates with Schools and Universities as a forum for socialization.
OJK also utilizes the power of social media to disseminate information on financial literacy. The campaign covers financial tips, understanding financial products, and wise steps in managing debt.
Conclusion
While the news about OJK helping to pay off Pinjol's debts sounds encouraging, we need to ensure the truth of the information. Beware of hoaxes, and make sure to get information from reliable sources.
OJK has a crucial role in protecting consumers, but consumers also need to be wise in managing their finances so that they do not get trapped in debts that are difficult to resolve.
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1. Tech-based Islamic Financing service (P2P Financing) is a civil agreement between Funder and Beneficiary, in which all risks are charged to all parties.
2. Payment failure is charged to the Funder, except for fraud case and mismanagement. Beneficiaries are imposed if fraud and mismanagement happens as in Risk Sharing terms based on Islamic Principles. There is no national institution or authority that is responsible to financing risk or payment failure or compensating on any parties including loss, failures, fees or consequences after.
3. The platform with agreement from all respective users (funders and/or beneficiaries) accesses, gains, stores, manages and/or uses users’ personal data (Data Utilization) on or in the objects, electronic devices (including smartphones or cellular phones), hardwares or softwares, electronic documents, applications or electronic systems belong to Users or managed by Users, upon the information of aims, limitations and mechanism of Data Utilization to the Users before the approvals.
4. Funders with limited knowledge on this financing are suggested not to use this service.
5. Beneficiaries are obliged to consider return rates/margin/service fee and other fees according to the ability to repay the financing.
6. Each fraud is recorded electronically in cyberspace and easily recognized by public through social media.
7. Users should read and understand this information before deciding to be a Funder or Beneficiary.
8. Government as in this case is Otoritas Jasa Keuangan (OJK) / Financial Services Authority is not responsible for violation or disobedience of users, Funder and Beneficiary (intentionally or unintentionally) against terms and conditions or agreement or attachment between the platform and Funder and/or Beneficiary.
9. Each transaction and financing activities, funding, financing or enforcement agreement regarding financing between or involves the Platform, Funder, Field Partner and/or Beneficiary should happen through escrow account and virtual account as stated in OJK regulation No. 77/POJK.01/2016 about Tech-Based Financing Services.
