Wednesday, January 31, 2007
posted by PabloPabla at 2:10 pm

This morning, I took judgment on another debtor. More precisely, someone with a Credit Card Debt. He used the card but failed to pay. He is not the only one. Everyday, at the Kuala Lumpur Magistrates Court, hundreds of credit card defaulters get a judgment pronounced on them. Some of the defaulters whom I've met informed me that they just do not have the means to pay the debts incurred. They just do not have any ways to eliminate their credit card debt.

What they don't realise is that when judgments or even suits are instituted against them, their names get blacklisted and it would be difficult for them to get financial assistance in future. At the end of the day, the banks are only after the moneys due to them. Defaulters should seriously consider talking to their banks to restructure the debt so that they be given a chance to pay the amount outstanding in instalments and perhaps, with a waiver or reduction in interests.

This is a sponsored post and the facts above are true.