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Will I bankrupt ?

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asked on May 31, 2015 at 01:10
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Hi, I have question about bankruptcy. I have credit card debit that will exceed 30k on this July. But I have never made payment since 2010 Ogos. That means it will be 6 years no payment on this Ogos 2015. But the thing is the debit will exceed 30k on Juky 2015, which mean one month before the 6 years non payment. Can the bank still file me the bankrupcy ? Hope someone can help me what should i do to avoid bankrupt. I appreciate to all your help !
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answered on Jun 2, 2015 at 14:51
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.

(like)(/)
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answered on Jun 2, 2015 at 15:48
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Perhaps I should join in this "rambling" on my personal capacity and personal opinions.

1/ It was during my collection days that I used the various methods to extract information
Personal observation is that you are a professional Trainer in the Collection of Debts. Some ppl in this forum assumed that it is ONLY aim at credit cards. WRONG!! incorrect single assumption.. Professional Debts Collectors also acts as Financial wealth managers in a lot of instances. One of the reason you have been irked by the current DC is that they have deviated from their original trained role and turn "rogue"

2/ If your case is genuine we might move the discussion to somewhere more private
100% agree. I personally is in the process of opening another "Gateway", still under formulating the process subject to FULL consent from all those involved. By posting exact solutions is not only helping the "victim" but also opposing bank lowyers and at the same time putting moneys into their pockets whilst all these are actually "free" acccurate, workable advices/solutions.

However, the main danger is when some people misinterprete by following "blindly" and acted privately on their own by just "copy and paste". Needless to say, some may be trying to be too clever and planned to "Hide" behind the Had Masa (6 years) bidding their time to reach that limitation even if they have the funds to repay at this point of time. I stand by my statement that some people do attempt to Hide behind the Had Masa and unlike those who would maximised their advantage when the period has been exceeded.

I do not need people/readers to concur with me. It is just my personal opinions. Just tell it to me straight in my face you are not happy with what i write and I can easily disappear for good. I do not owe anybody in this forum for a living, vice versa.. it is just that penning personal experiences to help those really in need and in distress caused by bill collectors. Now I know, some screening must be conducted on real cases.
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answered on Jun 2, 2015 at 16:22
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Jeff,

Are you saying that people should not hide behind limitation act and pay the bank even after 6 years?
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answered on Jun 2, 2015 at 17:50
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@ steven

Hide behind the Had Masa and unlike those who would maximised their advantage when the period has been exceeded.

I apologise.. Perhaps for my bad ingish.
"unlike those who would maximised the advantage "
I take it as people can use the limitation act to their advantage if their debts is over the 6 years.

I am no longer interested to have dialogue over usage of inglish with anyone anymore. If every forumer will to have perfect usage and understanding of inglish in this forum, there would not have 100 individuals being bankrupted every working day. You have your personal opinions and i have mine.. Have I ever challenge yours.? You may have underestimate my knowledge in some other small areas. Furthermore, it is not my intention to seek perfection in postings in forums, i am just an old man.

bYEbYE to this thread forever and Good Luck. I got better things to do in life than this.
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answered on Jun 2, 2015 at 18:02
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Needless to say, some may be trying to be too clever and planned to "Hide" behind the Had Masa (6 years) bidding their time to reach that limitation even if they have the funds to repay at this point of time. I stand by my statement that some people do attempt to Hide behind the Had Masa and unlike those who would maximised their advantage when the period has been exceeded.
Why are ppl in this forum now like behaving like our Msian Politicians and Journalists.
Extract a small portion and comment/argue on it.
Childish... Do grow up and get out of the box..
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answered on Jun 13, 2015 at 01:39
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I just registered ctos and get the report. The bank that i mentioned actually summon me on 2010 and the ctos also show remark as " judgement obtained" . What does it mean ?

I also have few question here.

1.) Since the bank file summon on me. So the limitation act will automatically extend another 6 years or the bank need to apply to court for extend ?

2.) How is the bankcruptcy processing ?  If the bank first file the summon, then can they file the bankrupcy after if the outstanding exceed 30k ??

3.) if they already file the bankruptcy on me. Can I still negotiate with the bank ?

Just thanks again for those who try to help.
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answered on Jun 13, 2015 at 03:49
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1.) Since the bank file summon on me. So the limitation act will automatically extend another 6 years or the bank need to apply to court for extend ?
The bank will have 12 years to file for Bankruptcy. Once the interests accrued exceeds 30K they may or not start immediately. There is 6 years to accummulate interests from Judgement date. It is the interests element that determines how fast you can be bankrupted.

1/ What is the Judgment amount and date?
2/ Date of filing Writ of Summons?
3/ Amount stated on the Bank "Tuntutan" and date?

Go to the Mahkamah and extract all these details if you dun have.

I have asked questions with no reply. If you cant give figures, it is like i am driving up a one-way street. The dead end have arrived. You can post all the details on this thread or email me. You still dun know the extent of the trouble you can be in.
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answered on Jun 13, 2015 at 18:12
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Hi JeffOO5. Thanks for your concern. I 'm not sure i answered you correctly or not.

1/ What is the Judgment amount and date?

Bank A - March 2010, Amount RM8,000    Bank B - Jun 2010,  Amount - RM12,000

2/ Date of filing Writ of Summons?

Bank A - March 2010,  Bank B - Jun 2010

3/ Amount stated on the Bank "Tuntutan" and date?

Bank A - RM8,500 (tututan + fee mahkamah + fee peguam)  , Bank B - RM12,500
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answered on Jun 13, 2015 at 18:38
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Based on your figures, you can expect a bankruptcy notice by the end of this year if the banks want too..

The date of writ should be earlier..

PDF or jpeg the tuntutan's, letter of demand and the JID's, email to me for further discussion. I shall redirect to any requests from other Avengers UPON request. Please take not that there is no "privacy" between avengers. If Idris did not email me on all FULL info how could everybody react so fast? It is almost 24hours case "settled"..!! The rest is paperwork.

The date of "filing" by the Courts "stamped paid" onto the "tuntutan" and JID is very important to assess the situation. There can be loopholes found in certain situations.
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answered on Jun 14, 2015 at 01:14
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Hi JeffOO5, many thanks again. I will email you ASAP. But i'm not clear here.

1. what is JID ?

2.) I lost the Bank A summon letter, I did received it on 2010 but I lost it now. What should i do ?
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