Document background
The Collection Agency Demand Letter is a crucial document in the Malaysian debt recovery process, typically used when initial collection attempts have been unsuccessful. It represents a formal step in the debt collection process, issued by licensed collection agencies operating under Malaysian jurisdiction. The letter must comply with various Malaysian regulations, including the Debt Collection Act 1974 and Financial Services Act 2013, while clearly stating the debt details, payment requirements, and the debtor's rights. This document serves multiple purposes: it formally demands payment, provides evidence of the collection attempt, and may be used in legal proceedings if necessary. The letter should include specific information about the original debt, current amount owed, payment instructions, and consequences of non-payment, while maintaining a professional tone that adheres to Malaysian debt collection practices.
