Govt should allow six-month grace period for individuals to settle debt before bankruptcy, says BN lawmaker

KUALA LUMPUR:The government should allow a six-month "cooling period" for individuals to settle their debts and not made bankrupt, says a Barisan Nasional lawmaker.

Datuk Jalaluddin Alias (BN-Jelebu) suggested to the government for Jan 1 to June 30 next year to be classified as a cooling period for individuals to settle outstanding debts within the newly proposed minimum debt threshold from RM50,000 to RM100,000.