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Need help with fighting banks to avoid bankruptcy

1699 Views  ⚫  Asked 1 Year Ago
asked on Mar 23, 2017 at 00:42
by   Freya
To all fighters in the forum, I need help!

I am another debtor who owe banks too much money and might get notice of bankruptcy soon.

My aim?  

About me:
Age: Turning 42 this year (jobless in 2012, 2013, working in 2014, worked for 2 months in 2015 and current job started end Oct 2016), now having a job is the reason why I am concerned about my financial crisis/status.

Total debts: ~ RM435,000 (snowball since 2013)
Breakdown of debts (as at 14/Mar/2017):
Stand Chart: RM143,800 (interest stopped after I emailed them all my medical report)
Citibank: RM37,112.92
CIMB: RM16,245.52
UOB: RM131,443.65
OCBC: RM75,000++
HSBC: RM27,169.52 (interest stopped)
HLB: RM101,100.18 

Legal status (as in ccris report dated 14/Mar/2017): 
Citibank: Three Judgement Order (only received one court summon though!!)
OCBC: Summon/Writ files (but didn't receive any summon from them!!!)
HLB: Judgement order (didn't receive any summon from them too!!)
UOB: received court summon, but legal status is clear in ccris report.

As for the date of the Judgement order/Summon, the ccris report a bit cacat, I can't see the year, the last digit is missing, for eg: Date Status Updated = 12/07/201 ??? (truncated because printer issue I think).
For this issue, can I call the banks to ask for the exact date?

Went to AKPK recently and they proposed a monthly instalment of RM3500 for the first 2 years, according to the counselor, all banks refused to waive interest or discount even though he proposed, this I don't really believe, don't tell me, out of 7 banks, not even one bank is willing to give RM1000 waiver/discount?
So my journey of fighting officially starts today.

I would like to get the exact date of the writ/judgement order, should I call the banks up?

I am prepared to fight, I am still reading up threads, William Chan's book, "how to represent yourself in court to fight banks" as well as bankruptcy act 1967, posting my issue here as you guys are more knowledgeable, experienced and can give better advice faster as what I can absorb from the threads and books are limited in some sense. 
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answered on Mar 23, 2017 at 00:50
by   Freya
Sorry.

My aim/objective? Delay bankruptcy, continue to work as I need to save up for my girl's insurance, expenses, college fee, etc
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answered on Mar 23, 2017 at 01:00
by   Freya
Additional infor:

2003: diagnosed with Bipolar (I didn't know that the diagnosis was bipolar until I asked the dr to write a medical report in 2014)
2014: applied for mental OKU and got the card (should have applied earlier but didn't know about it)

2012 Dec: Suicide attempt
2014: admitted to putrajaya hospital because the company I worked for closed down Malaysia office
2015: nervous breakdown after working in a MNC for 1 1/2 month.

Current mental status: manageable with medication and relaxation method.  Still getting anxiety attack sometimes but managing it ok so far.
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answered on Mar 23, 2017 at 15:43
by   lala
Have you tried negotiate with the banks directly? 
Especially those still charging you interest?
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answered on Mar 24, 2017 at 00:24
by   kiki
Went to AKPK recently and they proposed a monthly instalment of RM3500 
This is quite a substantial amount of installment to commit in a long period of time because if it is defaulted due to health or economic reasons then things would come back to square 1. 

Forget about AKPK ..

So my journey of fighting officially starts today. 
The worst thing that can happen in a debt litigation for a debtor is being declared a bankrupt.
But being a bankrupt does not mean it is the worst thing that can happen to one's life.  
Sometimes if the debt is too huge it can be the better option.

JIM may dictate more reasonable amount of monthly repayment (about 10% of monthly salary).
There is many cases the employer also may not or did not know their employees are a bankrupt.

I would like to get the exact date of the writ/judgement order, should I call the banks up? 
If you can manage to get the mahkamah case number then the documents can be extracted from the court. You can also check with CTOS.
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answered on Mar 24, 2017 at 00:33
by   vkpc
Citibank: Three Judgement Order (only received one court summon though!!)
Why three?  You have 3 loans with Citibank?

OCBC: Summon/Writ files (but didn't receive any summon from them!!!)
Did you receive any Letter of Demand?

HLB: Judgement order (didn't receive any summon from them too!!)

Did you receive any Letter of Demand?

Write formal letter to OCBC and HLB lawyers asking for a copy of the Writ Summons and Judgement.  Post the draft letter here.
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answered on Mar 24, 2017 at 02:57
by   Freya
edited Apr 26, 2017 at 06:21
 
@lala, no point, banks are robots.

@kiki, there is only "Legal status" and "Data Status Update" column under list of "Special Attention Account" in ccris report.
Guess I would need to write to the bank to get that piece of information?

Thanks for the info about employment, if they 'disturb' my employment, one more reason for me to fight harder!

@vkpc, 

Citibank I have 2 personal loans and 2 credit cards with Citibank, 3 accounts are 'mentioned' in one "Penghakiman Ingkar" (I can't find this in the bankruptcy act, or I didn't read it thoroughly, is Penghakiman Ingkar same as summon?)

What I received from OCBC (status in ccris = Summon/Writ files) is only Letter of Demand!
OCBC only engaged one lawyer (AZH** & WO**) so far, who should be the unethical one who summon me without giving me a copy of the summon!!

Unless OCBC curi curi engaged another lawyer to file the summon!

I will post HLB in a separate reply.
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answered on Mar 24, 2017 at 03:10
by   Freya
edited Apr 26, 2017 at 07:13
 
Now Hong Leong Bank:

1st letter = Letter of Termination Cum Recall (Personal account) 

2nd letter, Letter of Demand from a different law firm (Credit Card).

The account with legal status = Judgement order/Order of sales should be Personal Loan (note: some of the "Account/Application Number" in ccriss report is different are the credit number, some 'account' number, some just XX<my ID number>"

Since the court summon is regarding personal loan, it must be S**** H** & ASSOCIATES!!
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answered on Mar 24, 2017 at 05:01
by   kiki
@kiki, there is only "Legal status" and "Data Status Update" column under list of "Special Attention Account" in ccris report. 

There is a diference between CCRIS and CTOS report.
 
While CCRIS updates only the status of all your current debts with the banks, CTOS will normally updates of one legal status from the Mahkamah.  

Since you are unsure of your current legal status, the CTOS reports will be better indicator of your current legal standing in the Mahkamah, something to start with. 
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answered on Mar 24, 2017 at 05:24
by   kiki
Citibank I have 2 personal loans and 2 credit cards with Citibank, 3 accounts are 'mentioned' in one "Penghakiman Ingkar" (I can't find this in the bankruptcy act, or I didn't read it thoroughly, is Penghakiman Ingkar same as summon?) 

Penghakiman Ingkar is not the same with summon. Summon is just taking their claims from you to courts.

Penghakiman Ingkar means Judgement in Default (JID). It means that you did not attend court hearing and contest it and you adjudged as a debtor in your absence.

When is the date of this JID? If it is not set aside the next step the bank may file Notis Kebankrapan.
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answered on Mar 24, 2017 at 06:21
by   jenny
AKPK RM3500  FOR 10 YEARS VS JIM350 FOR 5 YEARS CASE MANAGEMENT.

Logic vs No Logic
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