AKPK asks borrowers to assess financial position as moratorium ends Sept 30

KUALA LUMPUR: Credit Counselling and Debt Management Agency (AKPK) has asked borrowers to take proactive steps in assessing their financial position now and into the future, as the automatic blanket moratorium ends tomorrow.

Its chief executive officer, Azaddin Ngah Tasir said those who foresee difficulties in resuming their financing repayments should seek help from their respective banks to discuss their repayments once the moratorium ends.

"While the nation’s economy is showing signs of recovery, we understand that many people are still grappling with the impact of the COVID-19 pandemic.

"There are various targeted repayment assistance options available to help customers better manage their finances by reducing monthly commitments, extending repayment schedules, and/or changing the financing terms, enabling them to adapt to this unprecedented situation,” he said in a statement today.

AKPK will work out possible repayment plans upon taking into consideration their overall or holistic financial commitments, Azaddin added.

"Customers may also seek advice and assistance from AKPK if the bank’s proposal does not meet their overall financial commitments or they have multiple borrowings,” he said.

The agency also provides financial counselling and education on prudent financial management.

"These services enable customers to improve their productivity at work and get their finances in order, providing peace of mind,” he added. - Bernama

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Next In Business News

Tropicana swings into the red in 1Q
ASNB to temporarily suspend transactions, services from June 4 to 7
IOI Properties posts net profit of RM59.7mil in 3Q
Pos Malaysia posts lower net loss for 1Q at RM30.37mil
Genting Plantations 1Q net profit surges 83%
Supermax 3Q profit takes a hit due to WRO, lower selling prices
Axiata slips into the red
Ringgit ends slightly better against greenback
TM 1Q net profit rises 4.4% to RM339.8mil
UEM Sunrise swings back into profit in 1Q

Others Also Read