Cuepacs president Adnan Mat said loan repayment periods, including those of personal loans, had been shortened following a circular issued by Bank Negara in 2013.
Adnan added that the shorter repayment periods meant borrowers had to pay larger sums to service their loans, leaving them with a smaller disposable income. "By extending the repayment period, borrowers would pay a smaller amount to service their loans, leaving them with more resources to spend on other necessities.
Adnan added that borrowers could also restructure their loans and pay an affordable amount to keep them from going bankrupt.In tabling Budget 2021, the government proposed targeted loan repayment assistance for borrowers in the B40 and M40 categories to lighten their load.
Nonsense.
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