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The Debt & Collection Law in Shah Alam, Malaysia is meant to protect both creditors' rights when it comes to repayment of debts and borrowers' rights against unfair collection practices. This law regulates how creditors can collect debts, what they can and cannot do, and the actions a borrower can take if their rights have been violated.
Legal assistance may be required in situations such as facing lawsuits from creditors, dealing with unlawful collection activities, negotiating with creditors for debt settlement, or understanding your rights under the Malaysia Debt Collection Act. A lawyer can also guide you in filing a complaint if your debt collector oversteps boundaries set by law.
The key aspect of local law relevant to Debt & Collection is the Malaysia Debt Collection Act. It includes restrictions on collection practices like abusive, deceptive, and unfair collection methods. Creditors cannot threaten or harass you, and they have to respect your privacy. They also cannot make false representation in the process of collection. If this occurs, a debtor has the right to take legal action.
You can lodge a complaint with the Malaysian Communications and Multimedia Commission, file a police report, or consult a lawyer.
No, the Malaysian law prohibits debt collectors from making contact at inconvenient times or places. These specifics should be discussed once contact has been made.
It is highly advisable to consult with a lawyer immediately to understand your rights and decide the best course of action.
No, unresolved debt or inability to repay a debt is not a criminal offense in Malaysia. Creditors can take legal courses to recover their debt but cannot get the debtor imprisoned over failure to repay.
They can contact you, file lawsuits, and if they win, they may garnish your wages or bank account after obtaining a court order. However, they must comply with the legal regulations in all activities.
You can contact organizations such as the Credit Counseling and Debt Management Agency (AKPK) for further advice and assistance regarding debt issues. Additionally, you could visit the official website of the Malaysian Communications and Multimedia Commission for more information.
If you require legal assistance, contact a lawyer specializing in Debt & Collection. They can give appropriate advice tailored to your circumstance. Moreover, it would be helpful to gather all relevant documents, such as loan agreements, payment receipts, or any communication from the creditor, as these would significantly aid your legal counsel in understanding your situation and formulating the best strategy.
