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Head of the OJK IKNB Supervision Department Bambang W. Budiawan explained that there was a misperception in the community after the issuance of the Constitutional Court's decision on January 6, 2020 yesterday.

"Therefore, we will continue to campaign that the execution of [the debtor's vehicle] does not have to go through a trial. Because in the Fiduciary agreement, the initial stage has already been agreed that if the Default is indeed there will be an execution or a forced attempt," said Bambang.
Bambang explained that the voluntary referred to in the Fiduciary decision is a multi-finance customer has voluntarily agreed to all agreements before the loan agreement for the purchase of motorized vehicles is made.

In the agreement, it has also been affirmed if the customer or the purchaser of the vehicle does not pay its credit obligations, it falls into the category of default or contractual injury, so that the finance company can execute according to established procedures.
According to Bambang, the OJK has coordinated with the Ministry of Law and Human Rights, to provide the public with a correct understanding of the Fiduciary decision of the Constitutional Court.

source: financial.bisnis.com