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Charge Card Debt: Monthly payment and legal action

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asked on Jan 13, 2020 at 15:54
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edited on May 1, 2020 at 22:56
 
I was blackmail to pursue bankruptcy and freeze my savings account if payment is not done immediately. I offer to pay monthly but not agreed. I must pay a total sum of RM10K.

If I pay monthly can they take legal action? I was also told that they will lock my living home.

Please advise.
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1 Answers

answered on Jan 13, 2020 at 18:30
by  
edited May 1, 2020 at 22:57
 
I offer to pay monthly but not agreed. I must pay a total sum of RM10K. 
You must negotiate direct to the bank that issued you the card and not to the debt collection agency who chases you for payment.

If your total debt is RM10k then they cannot make you a bankrupt because the minimum threshold is RM50k.

The other option to ensure that you can pay by installment is to enrol into Agensi Kaunseling dan Pengurusan Kredit (AKPK) debt management program.
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