Best Credit Repair Lawyers in Malaysia

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Kevin Wu & Associates
Petaling Jaya, Malaysia

Founded in 2020
7 people in their team
English
Malay
Chinese
We are a full-service law firm based in Kuala Lumpur, Malaysia. We possess a broad range of expertise to serve our clients. Our Firm's 3 Core Divisions are Corporate Advisory, Dispute Resolution and Criminal Law. Each of our Divisions is helmed by specialist practitioners who are able to leverage...
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Thomas Philip
Kuala Lumpur, Malaysia

Founded in 2000
10 people in their team
Malay
Disputes Resolved.Thomas Philip has grown to become the largest dispute resolution only firm in Malaysia, focused solely on civil and commercial litigation, arbitration and mediation.Integrity.Commitment.Results.Our success is measured by how well we achieve our clients' business and legal...
Edwin Ong Chambers
Klang, Malaysia

Founded in 2015
English
Edwin Ong Chambers, established in 2015 and located in Klang, Selangor, is a Malaysian law firm specializing in civil litigation with a focus on shipping, logistics, divorce, and employment disputes. The firm's practice areas encompass divorce and matrimonial law, admiralty and maritime law,...
GK Soh & Partners
Kuala Lumpur, Malaysia

English
GK Soh & Partners, established by Founder and Managing Partner Soh Gee Kian, is a distinguished Malaysian law firm with offices in Kuala Lumpur, Kemaman, and Kuala Terengganu. The firm offers a comprehensive range of legal services, including civil and criminal litigation, conveyancing, and...
Tay & Partners
Kuala Lumpur, Malaysia

Founded in 1989
English
Established in 1989, Tay & Partners is a full-service commercial law firm headquartered in Kuala Lumpur, Malaysia. The firm offers a comprehensive range of legal services to a diverse clientele, including local and multinational corporations across various industry sectors. With a team of over 30...

English
Nadzarin Kuok Puthucheary & Tan (NKPT) is a distinguished law firm with offices in Kuala Lumpur, Penang, and Johor Bahru, strategically positioned to serve clients across Malaysia and the region. The firm offers a comprehensive range of legal services, including Banking & Insolvency Law,...

English
Tang & Partners Advocates, located in Sibu, Sarawak, is a distinguished law firm offering comprehensive legal services across various practice areas. The firm is well respected for acting as legal counsel on a range of corporate, real estate, and litigation matters in Sarawak. It also handles...
Johor Bahru, Malaysia

English
Shook Mei & Partners, located in Bukit Indah, Johor Bahru, Malaysia, is a distinguished law firm specializing in conveyancing, family law-including divorce, custody, guardianship, and maintenance matters-real estate, and probate and administration. Founded by Goh Shook Mei, who earned her Bachelor...
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About Credit Repair Law in Malaysia

Credit repair in Malaysia involves steps, strategies, and legal avenues to correct or improve one's credit history, often affected by missed payments, defaults, or other financial setbacks. Malaysian law provides mechanisms that individuals can use to rectify inaccuracies in their credit report, dispute erroneous information, and ultimately work towards improving their creditworthiness. The regulatory framework in Malaysia, including the Central Credit Reference Information System (CCRIS) and private credit bureaus, plays a significant role in managing credit information.

Why You May Need a Lawyer

There are several scenarios where seeking legal help might be beneficial in the credit repair arena. A lawyer can assist in understanding complex credit reports, identifying inaccuracies, and drafting dispute letters to credit bureaus. Legal professionals can also offer advice on restructuring debts effectively or help negotiate with creditors. In cases of identity theft or fraud, a lawyer's assistance is crucial in navigating through legal processes and rectifying credit information. Additionally, lawyers can provide representation and guidance if legal action becomes necessary due to unfair credit practices or persistent inaccuracies.

Local Laws Overview

Key aspects of Malaysian law relevant to credit repair include the Credit Reporting Agencies Act 2010 (CRA Act) which governs the operation of credit reporting agencies. This act ensures the accuracy and confidentiality of consumer credit information. The Personal Data Protection Act 2010 (PDPA) also plays a role by providing regulations on the use of personal data, which includes credit information. Legal protections are in place to ensure that inaccuracies must be investigated promptly by credit bureaus, and individuals have the right to dispute inaccurate information.

Frequently Asked Questions

What is the Central Credit Reference Information System (CCRIS)?

CCRIS is a database created by Bank Negara Malaysia that collects credit-related information from financial institutions to provide a standardized format of credit history for financial assessments.

How can I get my credit report in Malaysia?

You can obtain your credit report from Bank Negara Malaysia's CCRIS, or through accredited private credit bureaus like CTOS or RAMCI by submitting a request online or in person.

What should I do if I find an error on my credit report?

If you find an error, you should promptly file a dispute with the respective credit reporting agency. They are legally required to investigate disputes and rectify any inaccuracies found.

How long do negative records stay on my credit report?

Typically, negative information such as missed payments or defaults may appear on your credit report for up to two years, depending on the nature and resolution of the issue.

Can a credit repair company help improve my credit score?

Credit repair companies can assist in highlighting errors for dispute but cannot legally remove accurate negative information. Always verify their legitimacy and practice caution to avoid scams.

What rights do I have under the Credit Reporting Agencies Act?

The CRA Act provides you with the right to access your credit information, dispute any inaccuracies, and ensures that your information is used for legitimate purposes.

Are there any government programs to assist with credit repair?

Agencies like the Credit Counselling and Debt Management Agency (AKPK) offer free financial education, debt management services, and advice that can assist with improving credit standing.

What is the role of the Personal Data Protection Act in credit repair?

The PDPA ensures that your personal, including credit information, is handled with strict confidentiality and cannot be misused without your consent.

Can legal action be taken against credit bureaus for inaccuracies?

Yes, if credit bureaus fail to rectify inaccuracies or engage in unfair practices, individuals have the right to seek legal recourse under the applicable laws.

What steps can I take to prevent future credit issues?

Maintain regular monitoring of your credit report, pay attention to financial obligations, and consider setting up automatic payments to avoid missed deadlines.

Additional Resources

Consider reaching out to the following entities for assistance or information:

Bank Negara Malaysia: Central bank overseeing financial institutions including credit reporting.

AKPK: Provides financial counselling and debt management services.

Local Credit Bureaus like CTOS and RAMCI: Offer resources and support for obtaining and understanding credit reports.

Next Steps

If you require legal assistance in credit repair, the next steps involve identifying a qualified lawyer with expertise in financial laws and credit issues. You may begin by contacting the Malaysian Bar Council for referrals or researching reputable law firms that specialize in credit and consumer protection law. Initial consultations can help you understand your situation better and develop a tailored strategy to address your credit repair needs effectively.

Lawzana helps you find the best lawyers and law firms in Malaysia through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Credit Repair, experience, and client feedback. Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters. Get a quote from top-rated law firms in Malaysia - quickly, securely, and without unnecessary hassle.

Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.