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