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Bank already auction off property in 2008

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asked on Nov 24, 2016 at 06:28
by   Angelbaby
Hi. I have a question. I took a loan of 160k fm a bank circa 2002 but did not make any settlement at all. The bank has auctioned and sold the property on 2008. I wasnt aware of the auction and did not receive any LOD or Summons or calls througout the years.. and suddenly, a debt collection agency called me in 2016 and demand i pay RM131k (difference of auction sold and loan amount + compounding interest). I argued with them its been 9 years and now only call and ask for settlement. They threaten me for bankruptcy and it will be served by the collection agency (bot by the bank). My question is, its been 9 years passed and does the collection agency have any legal right to bankrupt me? Please advise urgently. They want me to respond by certai date with sertlement plan. Does limitation act help me on this? SOS. need some sound advise here please. thanks. ps : i told them i don have the money and not eligible for any loans coz all banks rejected my application. 
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3 Answers

answered on Nov 24, 2016 at 13:07
by   vkpc
Which bank called you?
Does the property have a title? (grant)
Have you been summoned to court earlier?
Did they send you a Letter of Demand or any other documents?
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answered on Nov 24, 2016 at 22:20
by   Angelbaby
edited Nov 24, 2016 at 22:22
by   Angelbaby
its a collection agency who called. not fm bank. and i did not receive any letters fm the bank. my cicris and citos is clear as at now.
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answered on Nov 25, 2016 at 14:42
by   vkpc
Which bank does the collection agency represent?
Does the property have a title? (grant)
How do you know how much the property was sold for?
How come you did not receive any letters?  Did you move house?
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