I received a pre-repossession notice (Fourth Schedule). What should I do to avoid repossession of my car?
You have two (2) choices, both of which must be acted upon before the expiry of the 21 days stated in the Fourth Schedule notice to avoid repossession:
- Pay the outstanding arrears as stated in the Fourth Schedule notice; or
- Return the motor vehicle to your banking institution and pay any outstanding debt.
Reprinted with permission from BankingInfo (A Consumer Education Programme by Bank Negara Malaysia)
Back to the top
Related Knowledge Base Issues