The current pandemic situation is getting worse for all Malaysians. With the numbers of cases still at the peak of growing consistently, the government has taken the initiative to extend the Movement Control Order (MCO) 3.0 which resides until the end of the month. Eventually, this will have a major impact on the SMEs, Micro Businesses, and employees who have to stop their operation and work as part of the Government restrictions.
Recently, the Government has introduced Pemerkasa Plus aid package to all Malaysians affected and urged financial institutions in Malaysia to assist accordingly. As a result, the financial institutions have provided financial relief assistance programs to help individual and B40 borrowers, micro-enterprises, and other affected borrowers to alleviate the cash-flow burdens. Hence, the options given are:
Option 1: Moratorium for 3 months.
Option 2: Reduction of monthly installments by 50% for 6 months.
Although the banks are extending their financial assistance aids to all Malaysians affected, the chances of you receiving the aids might be low as compared to when it was first introduced. Worse case, you are still bound to pay your loans, bills, expenses, and other things. To even think about using your savings or cash reserve is just making the situation worse.
How jomSETTLE™ Can Help You
In light of the recent crisis that has affected many businesses and individuals in Malaysia, jomSETTLE™ are introducing new payments – Personal Loan, Mortgage, and Hire Purchase. With this implementation, jomSETTLE™ believes that it will give you more flexibility when settling your loan payment, whether using your cash or credit card and help ease up your cash flow issues.
How jomSETTLE™ Benefit You
Credit cards are an excellent source of short-term loans. If you have insufficient funds to pay for your loan, using credit cards could avoid you from getting a penalty for late payment. This gives you the flexibility to make use of your cash for other emergency uses. In this case, settling your loan on time also helps protect your CTOS or CCRIS record in the long term.
If you are struggling to pay back your credit card, you can contact your credit card issuer within 14 days of your usage and negotiate with them on restructuring your credit card repayment into installments with low interest. All in all, you should always have a proper plan for all of your payments. With this, you can anticipate the risk and think twice before having bad credit records under your name.
Manage your spending and be financially wise with jomSETTLE™. Sign up your account now!
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The current pandemic situation is getting worse for all Malaysians. With the numbers of cases still at the peak of growing consistently, the government has taken the initiative to extend the Movement Control Order (MCO) 3.0 which resides until the end of the month. Eventually, this will have a major impact on the SMEs, Micro Businesses, and employees who have to stop their operation and work as part of the Government restrictions.
Recently, the Government has introduced Pemerkasa Plus aid package to all Malaysians affected and urged financial institutions in Malaysia to assist accordingly. As a result, the financial institutions have provided financial relief assistance programs to help individual and B40 borrowers, micro-enterprises, and other affected borrowers to alleviate the cash-flow burdens. Hence, the options given are:
Option 1: Moratorium for 3 months.
Option 2: Reduction of monthly installments by 50% for 6 months.
Although the banks are extending their financial assistance aids to all Malaysians affected, the chances of you receiving the aids might be low as compared to when it was first introduced. Worse case, you are still bound to pay your loans, bills, expenses, and other things. To even think about using your savings or cash reserve is just making the situation worse.
How jomSETTLE™ Can Help You
In light of the recent crisis that has affected many businesses and individuals in Malaysia, jomSETTLE™ are introducing new payments – Personal Loan, Mortgage, and Hire Purchase. With this implementation, jomSETTLE™ believes that it will give you more flexibility when settling your loan payment, whether using your cash or credit card and help ease up your cash flow issues.
How jomSETTLE™ Can Help You
Credit cards are an excellent source of short-term loans. If you have insufficient funds to pay for your loan, using credit cards could avoid you from getting a penalty for late payment. This gives you the flexibility to make use of your cash for other emergency uses. In this case, settling your loan on time also helps protect your CTOS or CCRIS record in the long term.
If you are struggling to pay back your credit card, you can contact your credit card issuer within 14 days of your usage and negotiate with them on restructuring your credit card repayment into installments with low interest. All in all, you should always have a proper plan for all of your payments. With this, you can anticipate the risk and think twice before having bad credit records under your name.
Manage your spending and be financially wise with jomSETTLE™. Sign up your account now!
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