Understanding the Concerns Surrounding Kudrat Partners
Numerous reports and public feedback suggest that Kudrat Partners & Co. engages in aggressive debt collection tactics, with some alleging harassment reminiscent of loan shark operations. Customer feedback platforms are filled with accounts of persistent calls, SMS messages, and even unwelcome site visits to customer locations. These methods have caused considerable distress and have led to public calls for regulatory intervention.
SMS message allegedly from Kudrat Partners & Co. showing aggressive language and demands for payment
Truecaller user comments further corroborate these concerns, depicting Kudrat Partners & Co. as employing forceful and potentially unethical methods in their debt recovery efforts. This has prompted calls for increased scrutiny from authorities like Bank Negara Malaysia to investigate their operational practices and ensure compliance with ethical debt collection standards.
Truecaller comments highlighting negative experiences and describing Kudrat Partners & Co.'s collection tactics as harassing
Your Rights as a Debtor Under Malaysian Law
Bank Negara Malaysia, the central bank of Malaysia, has established clear guidelines to protect debtors from unfair debt collection practices. These guidelines mandate that all financial institutions and their appointed debt collectors adhere to a fair and respectful recovery process, emphasizing the protection of borrowers’ privacy and dignity. Key aspects of these guidelines include:
Right to Information and Verification
When contacted by a debt collector claiming to represent Kudrat Partners or any other agency, you have the right to request proper identification and information. Debt collectors must provide an authorization card, clearly state the name of the debt collection company, and furnish a written notice detailing the debt in question. This ensures transparency and allows you to verify the legitimacy of the debt and the collector.
Statute of Limitations on Debt
The Limitation Act 1953 in Malaysia sets a legal time limit for creditors to pursue debt recovery through legal action. This act stipulates a six-year limitation period from the date the debt was incurred or last acknowledged. For loans, this period starts from the date the loan was provided. Once this six-year period expires, creditors, including banks and their debt collectors like Kudrat Partners, lose the right to initiate legal proceedings to recover the debt. Therefore, if a debt collector contacts you regarding a debt that is older than six years and no legal action was initiated within that period, you are no longer legally obligated to repay it.
Protection Against Harassment and Unethical Tactics
Debt collectors operating in Malaysia are strictly prohibited from employing harassment, intimidation, or abusive tactics. Bank Negara Malaysia’s “Fair Debt Collection Practices” guidelines explicitly forbid debt collectors from using abusive language, making threats, or engaging in any behavior intended to humiliate or intimidate debtors. Kudrat Partners, like all debt collection agencies, must adhere to these ethical standards.
Limits on Contact Frequency
To prevent undue pressure and harassment, debt collection agencies are restricted in the frequency of their contact with debtors. According to regulations, debt collectors are not permitted to contact borrowers more than three times per week. If you experience excessive calls from Kudrat Partners or any debt collector, it is a violation of these guidelines, and you have the right to file a complaint.
Prohibition of Threats and Illegal Actions
Debt collectors are legally barred from making threats or resorting to illegal actions to coerce debt repayment. This includes trespassing, using scare tactics, or engaging in any form of harassment such as following debtors or loitering around their homes or workplaces. Such actions are not only unethical but also unlawful.
Safeguarding Personal Data
The Personal Data Protection Act 2010 (PDPA) protects your personal information and makes it illegal for organizations to disclose or share your personal data with third parties without your consent. Debt collectors, including Kudrat Partners, are bound by this act and cannot share your debt information with your family, friends, or employers to pressure you into payment. Such actions constitute a breach of the PDPA, and you have the right to seek legal recourse.
Filing a Complaint Against Unfair Debt Collection Practices
If you believe that Kudrat Partners & Co. or any debt collector has violated the Fair Debt Collection Practices guidelines, you have the right to file a complaint. The first step is to lodge a formal complaint with the bank or financial institution that engaged the debt collector. If you are unsatisfied with the bank’s response or handling of your complaint, you can escalate the matter to Bank Negara Malaysia (BNM).
Contact Bank Negara Malaysia through the following channels:
BNMTELELINK (Customer Contact Centre)
- Phone: 1-300-88-5465
- Email: [email protected]
- Operating Hours: 9:00 am – 5:00 pm (Monday – Friday)
BNMLINK (Walk-in Customer Service Centre)
- Address: Bank Negara Malaysia, Ground Floor, D Block, Jalan Dato’ Onn, 50480 Kuala Lumpur
- Operating Hours: 9:00 am – 5:00 pm (Monday – Friday)
By understanding your rights and the regulations in place, you can effectively navigate interactions with debt collectors and protect yourself from unfair practices. It is crucial to be informed and take appropriate action when faced with unethical debt collection methods.
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