hey folks , hope u all are staying home and safe !! haha... allright just inquiring for a person ( Mr Covid ) who was not so finacially literate and reached out to his friends for advise

Here is the story and scenario :
- Mr Covid has SPM qualification , after finishing his SPM , he used to work in Telemarketing , Call Centers , hotel bell boy and customer service with income aroun 1500 to 2200 monthly minus the commision , tips and bonuses

- Now Mr Covid switch career paths and does his own small business selling food in pasar malam and a small restaurant operator due to his culinary expertise from his mom's home made receipe's and also a small handphone + accesory shop , pretty much self employed with Enterprise company registrations

- he now applies a small loan from the banks to survive as his restaurant and pasar malam is severely effected during the MCO period in the already dire economy from fierce competition from online shoppers .

- his loan was rejected , we ran a CTOS report and found out he has one Credit Card which was in Status Written Off under special attention in year 2015 while he was still employed .


The question is now how do we clear the written off credit card ?

- Can he just walk in to the bank and pay off the written off balance and improve his CCRIS scoring from Red to Green ?
- is there any risk in doing so , being risked by legal or bankrupcy or further fine by the banks ?


Any comments and ideas will be great

hey folks , hope u all are staying home and safe !! haha... allright just inquiring for a person ( Mr Covid ) who was not so finacially literate and reached out to his friends for advise

Here is the story and scenario :
- Mr Covid has SPM qualification , after finishing his SPM , he used to work in Telemarketing , Call Centers , hotel bell boy and customer service with income aroun 1500 to 2200 monthly minus the commision , tips and bonuses

- Now Mr Covid switch career paths and does his own small business selling food in pasar malam and a small restaurant operator due to his culinary expertise from his mom's home made receipe's and also a small handphone + accesory shop , pretty much self employed with Enterprise company registrations

- he now applies a small loan from the banks to survive as his restaurant and pasar malam is severely effected during the MCO period in the already dire economy from fierce competition from online shoppers .

- his loan was rejected , we ran a CTOS report and found out he has one Credit Card which was in Status Written Off under special attention in year 2015 while he was still employed .


The question is now how do we clear the written off credit card ?

- Can he just walk in to the bank and pay off the written off balance and improve his CCRIS scoring from Red to Green ?
- is there any risk in doing so , being risked by legal or bankrupcy or further fine by the banks ?


Any comments and ideas will be great

pretty impressive this CTOS app and website.. instant report emailed ... i checked for myself too... RM 25 worth spent..

THanks for the information and insights..