Maybank legal proceedings after unable to make payment

Hi just asking whether anyone has encountered legal action from maybank?

I am most probably getting a letter of demand from them so I am trying to get myself mentally prepared for the upcoming battle.

Tried negotiating with them but they insist on legal action. Even though I really wish make payment but in installments. There is no way I can cough up the lupsum of $40k.

I have really bad credit score HH. So borrowing money from other sources doesn’t seem likely. Unless there are some places some one can recommend?