Legal Protection for Debtors for the Execution of Fiduciary Guarantee Objects

(Case Study at PT. Summit Oto Finance Denpasar Branch)

DOI

10.2991/978-2-494069-93-0_55How to use a DOI?

Keywords

Legal protection; Fiduciary Guarantee Execution; Financing Company

Abstract

The inclination of today’s society to purchase items in installments multiple times makes consumer finance institutions the best option for sales and purchase agreements made in installments or regularly. How the execution of the object of fiduciary guarantees is carried out by the consumer finance company PT. Summit Oto Finance Denpasar Branch as a creditor and how is the legal protection for debtors for the execution of fiduciary guarantee objects at PT. Summit Oto Finance Denpasar Branch is the formulation of the problem in this study. This study employs an empirical method of legal research with a descriptive analytic approach, and its data sources include both primary and secondary data. This study reveals the execution of the goal of fiduciary assurances by consumer financing businesses acting as creditors. By granting a power of attorney to a third party (collector), the creditor executes the agreement between the debtor and creditor to withdraw the collateral. Legal protection for debtors for the implementation of fiduciary guarantee objects in consumer finance businesses, namely protection for consumers who face forced withdrawals on the highway. The government, through the decision of the Constitutional Court, has issued a new regulatory breakthrough that prohibits financing companies from forcibly withdrawing motorized vehicles from the highway or unilaterally unless there is a court decision and a mechanism that must be passed, the sale of fiduciary guarantee objects is conducted through a process of public auction and the debtor has the right to make the transfer by selling independently, and the debtor has the right to repurchase the object.

Copyright

© 2023 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - I Putu Baladeva Vidyasagara
AU  - I Nyoman Putu Budiartha
AU  - Putu Ayu Sriasih Wesna
PY  - 2023
DA  - 2023/01/25
TI  - Legal Protection for Debtors for the Execution of Fiduciary Guarantee Objects
BT  - Proceedings of the 3rd International Conference on Business Law and Local Wisdom in Tourism (ICBLT 2022)
PB  - Atlantis Press
SP  - 460
EP  - 469
SN  - 2352-5398
UR  - https://doi.org/10.2991/978-2-494069-93-0_55
DO  - 10.2991/978-2-494069-93-0_55
ID  - Vidyasagara2023
ER  -