Implementation Of A Auction Of Pawning Guarantees As A Legal Result Of Customer Default At PT Pegadaian Kanwil I Medan

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Implementation of the Auction of a Pawn Guarantee due to Customer Default at PT Pegadaian Kanwil I Medan

Introduction

PT Pegadaian, as a State-Owned Enterprise (BUMN), plays a vital role in providing loans to the community through a pawn mechanism. However, it is not uncommon for customers to experience difficulties in paying their loans to maturity, which makes them categorized as default. In this context, the legal consequence of default is the implementation of the auction of guarantees that have been given by the customer. This study aims to analyze the criteria for assessing debtors in credit provision, reasons customers choose a pawn institution to meet their financial needs, and comparisons between customers who are smooth and not smooth in various Pegadaian in Medan City.

Debtor Assessment Criteria for Credit Provision

PT Pegawil I Regional Office Medan uses a number of criteria to assess the debtor before giving credit. These criteria include:

  • The ability to pay off liabilities: This assessment is based on the ability of the customer to pay back the loan in accordance with the agreement. The customer's financial stability and ability to manage their debt are crucial in determining their creditworthiness.
  • Debtor Economic Conditions: Debtor Economic Aspects that include income and financial stability have a major effect in the process of granting credit. The customer's income and financial stability are essential in determining their ability to repay the loan.
  • Income measurement from business: Debtor income from the business that is run is also an important consideration. The customer's business income and financial stability are crucial in determining their creditworthiness.
  • Other criteria: Other criteria such as the customer's credit history, employment status, and education level are also taken into consideration.

The above criteria are applied differently depending on the type of guarantee item. For example, for movable goods such as vehicles guaranteed by BPKB, all criteria are applied. Meanwhile, for collateral items in the form of jewelry such as gold or diamonds, the assessment is more focused on the value of guaranteed goods.

Reasons Customers Choose a Pawn Institution

Several factors are behind the customer in choosing PT Pegadaian as a pawn institution to meet their financial needs:

  • Fast loan process: Customers can access loans quickly compared to other financial institutions. The fast loan process is an attractive feature for customers who need quick access to cash.
  • Easy Requirements: The uncomplicated submission process is an attraction for many customers. The easy requirements and simple submission process make it easy for customers to access loans.
  • Light interest: PT Pegadaian offers more competitive interest rates, making it an interesting choice for prospective debtors. The low interest rates make it an attractive option for customers who need to borrow money.

Customer Comparison is Smooth and Not Smooth

Analysis of customers in various madapahs in Medan shows that the percentage of customers that are not smooth (default) is still lower compared to smooth customers. This shows that although there are problems in repayment, customers who are able to manage finances well still dominate. Non-Performing Loan (NPL) or bad credit at PT Pegadaian is fairly low, indicating effectiveness in the process of credit assessment and management.

Implementation of the Auction of a Pawn Guarantee

The implementation of the auction of a pawn guarantee is the last step taken to maintain the health of the loan portfolio. The auction process is conducted in accordance with the law and regulations, and the proceeds from the auction are used to settle the debt of the customer.

Conclusion

Through this study, it appears that PT Pegadaian Regional Office I Medan applies a comprehensive criterion in the debtor's assessment. The choice of customers to use pawning services in the pawnshop is based on various factors, including ease and trust. Although there are customers who experience default, the percentage of smooth customers is still much higher, showing the success of the pawnshop in managing the credit given. The implementation of the auction of a pawn guarantee is the last step taken to maintain the health of the loan portfolio.

Recommendations

Based on the findings of this study, the following recommendations are made:

  • PT Pegadaian should continue to apply a comprehensive criterion in the debtor's assessment to ensure that customers who are not creditworthy are not given loans.
  • The pawnshop should continue to offer competitive interest rates to attract customers.
  • The pawnshop should continue to provide easy and uncomplicated submission processes to make it easy for customers to access loans.
  • The pawnshop should continue to monitor the creditworthiness of customers and take necessary steps to prevent default.

Limitations of the Study

This study has several limitations, including:

  • The study only focuses on PT Pegadaian Regional Office I Medan and does not cover other regions.
  • The study only analyzes the criteria for assessing debtors in credit provision and does not cover other aspects of the pawnshop's operations.
  • The study only analyzes the reasons customers choose a pawn institution and does not cover other factors that may influence customer choice.

Future Research Directions

Future research should focus on the following areas:

  • Conducting a study on the effectiveness of the pawnshop's credit assessment process.
  • Conducting a study on the impact of the pawnshop's operations on the local economy.
  • Conducting a study on the factors that influence customer choice of pawn institution.

References

  • PT Pegadaian. (2022). Annual Report.
  • PT Pegadaian. (2022). Corporate Profile.
  • Bank Indonesia. (2022). Monetary Policy Report.
  • World Bank. (2022). World Development Indicators.

Appendix

  • List of customers who have experienced default.
  • List of customers who have not experienced default.
  • List of customers who have chosen PT Pegadaian as their pawn institution.
  • List of customers who have not chosen PT Pegadaian as their pawn institution.
    Frequently Asked Questions (FAQs) about the Implementation of the Auction of a Pawn Guarantee due to Customer Default at PT Pegadaian Kanwil I Medan

Q: What is the purpose of the auction of a pawn guarantee?

A: The purpose of the auction of a pawn guarantee is to recover the debt owed by the customer to PT Pegadaian. The auction process is conducted in accordance with the law and regulations, and the proceeds from the auction are used to settle the debt of the customer.

Q: What are the criteria for assessing debtors in credit provision?

A: The criteria for assessing debtors in credit provision include:

  • The ability to pay off liabilities
  • Debtor Economic Conditions
  • Income measurement from business
  • Other criteria such as credit history, employment status, and education level

Q: Why do customers choose PT Pegadaian as their pawn institution?

A: Customers choose PT Pegadaian as their pawn institution due to various factors, including:

  • Fast loan process
  • Easy Requirements
  • Light interest

Q: What is the percentage of customers who experience default?

A: The percentage of customers who experience default is still lower compared to smooth customers. Non-Performing Loan (NPL) or bad credit at PT Pegadaian is fairly low, indicating effectiveness in the process of credit assessment and management.

Q: How does PT Pegadaian manage its credit portfolio?

A: PT Pegadaian manages its credit portfolio by:

  • Conducting regular credit assessments
  • Monitoring the creditworthiness of customers
  • Taking necessary steps to prevent default
  • Implementing the auction of a pawn guarantee in case of default

Q: What are the benefits of using a pawn institution like PT Pegadaian?

A: The benefits of using a pawn institution like PT Pegadaian include:

  • Fast access to cash
  • Easy and uncomplicated submission process
  • Competitive interest rates
  • Trustworthy and reliable service

Q: What are the risks associated with using a pawn institution like PT Pegadaian?

A: The risks associated with using a pawn institution like PT Pegadaian include:

  • Default on loan repayment
  • Loss of collateral
  • Negative impact on credit score

Q: How can customers prevent default on their loans?

A: Customers can prevent default on their loans by:

  • Making timely loan repayments
  • Maintaining a good credit score
  • Avoiding taking on too much debt
  • Seeking financial assistance if needed

Q: What happens if a customer defaults on their loan?

A: If a customer defaults on their loan, PT Pegadaian will take necessary steps to recover the debt, including:

  • Conducting an auction of the pawn guarantee
  • Selling the collateral to recover the debt
  • Reporting the default to credit bureaus

Q: How can customers contact PT Pegadaian for assistance?

A: Customers can contact PT Pegadaian for assistance by:

  • Visiting the nearest branch
  • Calling the customer service hotline
  • Sending an email to the customer service team

Q: What are the contact details of PT Pegadaian?

A: The contact details of PT Pegadaian are:

Q: Is PT Pegadaian a reliable and trustworthy institution?

A: Yes, PT Pegadaian is a reliable and trustworthy institution. PT Pegadaian has been in operation for many years and has a good reputation in the industry. PT Pegadaian is also regulated by the relevant authorities and is committed to providing excellent service to its customers.