The Malaysian government has announced a three-month extension to the loan repayment moratorium for individuals who have lost their jobs and yet to find new employment during the Covid-19 pandemic – the Targeted Repayment Assistance (“TRA”) Programme. This programme is to assist those who face difficulties in continuing their debts during the Covid-19 pandemic. But a loan is a loan. Sooner or later it needs to be paid. Otherwise the creditworthiness of the individual can be compromised.

 What is Creditworthiness?

Two (2) Distinct Strategies to Settle Outstanding Balances

 Debt Avalanche method

 Pros

Cons

 Debt Snowball method

Pros

Cons

Consequences for Late Loan Repayment

Advice

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