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Financial What if i dont pay Progressive Interest ?, Mortgage

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gks
post Sep 18 2018, 11:16 PM

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If you do not pay... Your name will blacklisted in CCRIS... Interrest rate Immediately switches to higher rate.... And when ur outstanding hits rm50k, bank can sue you for bankruptcy.

In Malaysia, it is so easy to get into bankruptcy while the punishment during bankruptcy was very severe. Especially for entrepreneurs, it is not easy at all.

Not sure bank will still disburse the progress billing or not why your outstanding ballooning.

This post has been edited by gks: Sep 18 2018, 11:19 PM

 

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