The Credit Counselling and Debt Management Agency (AKPK) has stated that it is ready to provide financial counselling and loan rescheduling services for individuals who face debt repayment difficulties when the ongoing six-month moratorium ends in September 2020.
“For those whose income was not affected but who still choose to accept the moratorium, they are expected to have no problem repaying the loan after the moratorium expires. But for those who are still struggling financially and going through difficult times, they are urged to seek some early assistance by contacting their respective financial institutions or AKPK,” said the head of AKPK’s corporate communications department, Mohamed Khalil Jamaldin.
AKPK also drew up a list of guidelines for the public to plan and prepare for possible post-moratorium financial challenges. The list includes advice such as being prepared for no extension to the moratorium period once it ends, as well as planning your loan repayment early instead of waiting until the last minute.
The agency also advised the public to contact their financial institution to find out their latest loan monthly instalments and to review their current financial position. Additionally, you should study your monthly budget and find ways to generate extra income.
Aside from individuals, AKPK had also previously offered to assist business owners and employees of small and medium enterprises (SMEs) impacted by the pandemic and the movement control order (MCO).
To find out more about AKPK’s services, you can contact its customer service line at 03-2616 7766 or visit AKPK’s website.