bankruptcy and credit card debt

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asked on Feb 22, 2015 at 23:37
I was already been sue under bankruptcy before ,around 1999 which sue by the MBF finance due the to credit card debt.
I also declare all my credit card debt from another bank to the bankruptcy officer into my files .
after that i was make a monthly payment which already deal with the officer but however after a 1 years i was lap the payment until now .since on years 2010 i was able to process to open an bank account and apply for the Passport .Is it already been discharge from the bankruptcy .I can use a Passport to go another country .
But suddenly i received a bank statement from Am Bank that state down my credit card debt was RM387K, already been couple of years when i was sue into bankrupt no statement.
Anyone can help me what can i do .
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answered on Mar 20, 2015 at 00:18

  Then how about the debt i own .
  If I want to settler can i direct settler with bank or must need to go JIM .
  Because i have the debt on CC with two bank the amount just 5K each .
  The AMBank ( at the years been sure to bankruptcy about RM32K) i will put aside oledi and also another four bank which more then 10K.
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answered on Mar 20, 2015 at 02:03
Dear Alvin Loh19

Credit limit  
1999........... 2014
1/6K.. now?
2/6K.. now?
3/15K.. now?
4/15K.. now?
5/60K.. now?
6/60K.. now?
7/35k.. now387K

With 7 banks now COULD be >1,000,000.. how are you going to settle?

Since JIM is not disturbing you now, leave things as it is.
If the other banks sends you legal letters to attend court proceedings, then post here and see how.
You may then invoke/reactivate your Bankrupt status in JIM and ask them(the banks) to file POD.
Since the debts were more than 6 years, you may invoke the 6 years limitation act to throw out the POD's.

Alvin, you have been the most cooperative forumer the past weeks, you did what forumers requested/suggested you on what to do..

So.. Bonus opinions..

1/ Do not go and and revoke your bkcy status at JIM, do so only if the other 6 banks start some legal proceedings.

2/ Just do what you are doing now, save the monies and start a family asap.

3/ Do not contact any of the old banks nor pay even RM10, otherwise you may reset the clock, i.e, you cannot invoke the 6 years limitation act anymore. The banks may be trying their luck by sending letters to you and anybody. Just keep and archive the statements to expunk them later at JIM.

4/ Do not apply for any credit cards or loans from ANY banks, just in case ALL old banks reopen their old files on you. Any application of any kind or guarantors to any loans can trigger a re-investigation of your status.

5/ Do not buy Life insurances, you may not be paid on claims as BNM listings is still a BANKRUPT, best is to drive a car not registered in your name(very impt).

6/ Leave minima cash in any bank account. You may buy gold nuggests for savings purposes. Or property under proxy(though risky). Handle your bank savings ac very carefully for EPF withdrawal @50.

Hope all the above helps


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answered on Mar 20, 2015 at 02:24

  Note . Ok 
  I will wait for the time . If any of the other bank want to process a legal action . Only go JIM.
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