KUALA LUMPUR:The government should allow a six-month "cooling period" for individuals to settle their debts and not made bankrupt, says a Barisan Nasional lawmaker. He added that the government had previously amended the minimum debt threshold for the presentation of bankruptcy for four times. "Within the period of time it is implemented, I was made to understand that after Dec 31, the threshold rate will return back to RM50,000. "My biggest worry is, will those who have outstanding debt be able to reduce the debt amount to the minimum threshold after the gazette period?," he asked. He also wanted to know how many individuals have been declared bankrupt from 2017 until the second quarter of this year.

Source: The Star August 25, 2020 06:56 UTC