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Process/steps in opening file with JIM

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asked on Jan 24, 2010 at 03:09
by   Jane1963
I noticed Ms Eunice is interested knowing how when opening a file with JIM. Hope this might help.

My husband was one of the victim in 90s economic crisis. We hv a long list of creditors. So don't worry too much. I noticed his bankruptcy ref no in HIgh Court dated 2003. But JIM file ref is 2006. I guess it took 3 years to reach that stage. However, if you fight, it might takes longer. Good Luck.

My husband was asked to sign SURAT PENGAKUAN that we will get back to JIM in 14 days. Then the Statement of Affairs form to fill up at home. Completed the form and we bring along our bank latest stmts & bank books (we were prepared years ago, so most acts are lesser than rm50). Also SNPs which the properties are in NPL, credit card stmts & all other creditors stmts. Photocopied to pass to JIM.

Got back to JIM office. The Official Assignee (the person in charge of our file) checked thru. Everything ok. Then we were asked to bring the Statement of Affairs to Commissioneer For Oaths to certified.

You might want to check with yr OA if you need to bring along money coz when u get back to them in 14 days, most probably you will be ask to pay for 1st installment.

However, my husband has to go overseas for work. There will be another long story. Let me know if anyone interested. Be glad to share.
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answered on Jan 24, 2010 at 17:14
by   Eunice Lim
dear Jane,

So thankful that God send me another bright in my darkness. Jane, I really hope you can share the most with me. Is most appreciated from me.

1) What's Statement of Affairs?
2) Do you mean that when your husband had adjudged to bankruptcy for 3 years & only request to approach JIM as well?
3) If yes,what's the status of your husband in within that 3 years? He can still travel overseas?
4) How will your husband declare his asset to JIM? Did JIM take any examination on it? Say if you miss to declare one of your asset, do them find out?
5) In your case only your husband to adjudged to bankrupt, how's the affection to you? Will JIM need to check your status too?
6) How much your husband owe to creditor? How much is the installment your husband pay to JIM?
7) What's the restriction for your husband in serving to bankrupcy?
8) What's the restriction on you? Can you still acquire any asset eventhough you're not in bankrupcy?

Thanks Jane, really appreciate you can add your point that you think I should know the most.
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answered on Jan 24, 2010 at 18:48
by   Jane1963
1) What's Statement of Affairs?
A bit too long to mentioned all. Just a form to declare yr cash in hand/bank, asset (stocks, machinery) & other creditors (other than that bank which sue you bankrupt). The OA will go thru & explaining one by one.

2) Do you mean that when your husband had adjudged to bankruptcy for 3 years & only request to approach JIM as well?
[b}I was told when a bank sues u for bankruptcy, it will takes around 2-3 years before you could be declared as bankrupt. Well, at that time we could not afford a lawyer & know nothing about Lawyerment. Life goes on.

3) If yes,what's the status of your husband in within that 3 years? He can still travel overseas?
He works overseas & unless something urgent, he is there all year round. During that 3 years, he came back once. No problem at immigration. Me & my son travel to see him.

4) How will your husband declare his asset to JIM? Did JIM take any examination on it? Say if you miss to declare one of your asset, do them find out?
We loss everything in 90's crisis. No asset. Whether JIM take any examination on it, sorry I don't know.

5) In your case only your husband to adjudged to bankrupt, how's the affection to you? Will JIM need to check your status too?
No affection on me at all. He is the bankruptcy. Not me. Well, my turn is coming soon. Dont know when. My name was used to refinance our hse. Mine even worse. We took an Islamic loan as refinancing back then. Borrowed RM180k. Suing me RM460k. Now, I'm just a homemaker, how to pay half a million??

6) How much your husband owe to creditor? How much is the installment your husband pay to JIM?
Bank sued him for RM350k. This is a 4 partners property. The saddest part is only my husband & another partner being sued first. 1 partner MIA. Another one still able to travel without restriction. Monthly rm500.

7) What's the restriction for your husband in serving to bankrupcy?
He is given a certain period of time to be in overseas. 1st & 2nd application, JIM approved 6 months. The 3rd time, 1 year. He can only travel to & fro within 1 year without problem. However, he must be back in M'sia before the approved period ends. Must submit new application again.

8) What's the restriction on you? Can you still acquire any asset eventhough you're not in bankrupcy?
For the time being, no restriction. I can even use our current act (joint names) without problem. Asset? I bought over my father's car. Car still under his name.

Sometimes is very frustrating dealing with JIM. We are trying to make a living. Although my husband is working for the same employer, still JIM request us to submit the same documents again on every application.

Be patient & be brave.
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answered on Jan 24, 2010 at 18:50
by   pening
Hi Jane,

I just go JIM and should submit the Statement of Affair in 14 days. I'm not really understand how to fill up. I have no properties at all, should I put blank in every page? I think only page 2 applicable to me - list of creditors.

My kids have saving in ASW which is I as a guardian. Should I mention that to JIM?

hope to hear from u jane.

Thanks
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answered on Jan 25, 2010 at 00:45
by   Eunice Lim
Dear Jane,

Thanks for your input.
why is your repayment of rm 500 is too high,i tot that the repayment to JIM should elect by ourselves, might be rm 30,50 or 100.
Yes, you're right. As homemaker, how would you to clear a debt which nearly half a million.
Jane, do you mind to tell what's the difference of life which being bankrupt & yet to be bankrupt?
Did creditors cometo harrass you?
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answered on Jan 25, 2010 at 01:29
by   Jane1963
Hi Pening,
Don't worry too much. Fill up parts that you know. Bring along any bank/credit card statements, bank books & all your creditors statements. Show to your OA. He/she will tell u what is needed & what is not. Take your time.

Please note. Fill up all your creditors. Don't missed out even one. I read one of the thread that says if you hv listed out all your creditors, you cannot be sued bankruptcy by any one of them again.

As for your kid's ASW, sorry I don't know how to advise. The experts from this forum, please help!!

Get this JIM thing done soonest possible.  Life has to go on. It's not end of the world. It's easier to said than done. But I hv been thru this nightmares for years. Wandering how's life is going to be after being bankrupt, what if not allowed to travel overseas to work, cannot own any properties, afraid JIM people comes to my house to seize my tv, computer & many other crazy thoughts ....as if a bankruptcy is a criminal.

Pay JIM promptly. Give them the amount u can sure to afford every month. Not much problem after that.

Get this "bankruptcy" baggage off your shoulder. Start a new chapter in your life. Good Luck ....
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answered on Jan 25, 2010 at 02:07
by   Jane1963
Dear Eunice,

We were 1st timer. No guidance/advise from any expert. As mentioned, my husband has to work overseas, we have to submit the letter of offer from employer. It has the salary offered mentioned. We were also afraid that JIM might get my husband's income tax details from LHDN. As you know, the OA will tell you not to hide anything, if found out, it is a serious offence.

The amt is what we can afford based on his salary. We considered the amt "save" in JIM to be part of $$ which has to be paid to the creditors.

Pay promptly every month. I heard that 'sometimes' cases which has good records for at least 5 years, there 'might' be discharge from DGI. 2010 is already into the 4th year. Hoping there is a miracle awaiting for us.

what's the difference of life which being bankrupt & yet to be bankrupt?
To me, no difference. Life still the same. Goes shopping, travel overseas, appreciating life as days goes by. I have to accept the fact that my husband is a bankrupt. I have 2 kids to take care. Youngest only 8 mths. Is unfair to my kids if I behaved as if it's the end of the world. If you hold on this is saddest part of your life, you are wasting your time on earth. Don't judge/blame yourself or your partner.

Don't judge/blame yourself or your partner.
At first, yes. Those towing cars people came & drove away our car. We hv to pay rm1k to them get it back. Then we hide our new car in a friend's hse in an estate for a few months. Luckily we able to sell it off without owing the car finance. mostly that's it.
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answered on Jan 25, 2010 at 02:33
by   Pening
Jane,

Thanks for your advise. I have promised JIM to pay RM100 a month starting this feb. Luckily I join this forum before see JIM. I have another 2 credit card debt. So I will list all creditors as per your advise. Thanks again. I was declare banckrupt in Jun 2004 and this Jun 2010 already 6 years but I only know my status on may 2009.

I'm agreed with you. I was chasing with debt since 1998. Starting from that my life so miserable. I get terminate from job, shipted house and never stay long in one job coz worried they will found me at office. At last 2003 I'm get married and I'm peacefull to become housewife until 2007 I got brave to looking for job coz my hubby not doing well in his career. Like you Jane I also have a kid to take care. I only hope that the 2 credit do not show POD to me.

Thanks again Jane for sharing.
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answered on Jan 25, 2010 at 03:28
by   Jane1963
Hi Pening,

I'm glad I'm able to help you as you going thru all these emotionally.

You know what? Now we have the knowledge & courage to teach our children to be strong whenever problems arise.

Update & share your experience going thru JIM.
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answered on Jan 25, 2010 at 06:06
by   Eunice Lim
Dear Jane / Pening,

We're almost the same. We have kids to take care, early in the part, I was so frighten that my husband go bankrupt will affect my business. Because it was only a bowl of rice for my family now. My hubby looks very upset, I cry almost the night to see him suffer a lot.
Thankful I found forum here, thankful to Notalawyer, Firefly, Vkpc and both of you to share everything with me.

I can say I'm still not courage as you, but at least I know my frighten becomes lesser now. Nothing I can do now, only wait for my hubby's creditor to inititate the legal proceeding against him. I will be sure with him to fight until end. I'm now go thru limitation act, bankruptcy act in every moment when I free, hope to learn from there & able to share with you all here. However, theory always not greater than practical. Thus so, really hope you all can input your experiences as much as you can.

Pening, think the day you will be JIM soon. Is appreciate that you can share everything in JIM with us after then. Thanks
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answered on Jan 25, 2010 at 15:13
by   Kenny
Dear Jane1963 ,

it was so good to see your post here.

i have post here for some time ,
currently Notalwayer are giving me the advise ,
but it was deleted , dont know why.

i hope you can share with me ,
apply thru JIM to work oversea ,
can you explain more ??

as you mention JIM will ask your husband to report every 6 month ,
does this mean your husband need to come back ??
or just report thru phone calls ??

how about the apllication regarding the documents ??
what JIM need as document ??
Employer Letter , Pay Slips ..... etc... ??

i hope you can explain again , from the 1st steps for apply working oversea.

thank you so much.
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