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Preparation for the worst

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asked on Apr 5, 2017 at 18:00
by   shahril
Hi All

I am 35 year old and working as Procurement Manager in one of the subsidiary in conglomerate company in Malaysia.Short Brief of myself
Salary = RM 6400
Utility = RM - 2000 ( House Rental + astro + Unifi )
Commitment = RM - 2600 ( 2 car + CC + PL)
Makan + Sekolah + Other = RM -2000
So balance monthly insufficient RM 200 and no money for myself.
What i do for the last 1 year, i skip payment for CC and PL - RM 1,200..
This 1200 i use for fuel, makan tghari, klinik, etc

What happen was from the last 1 and half year ago, i been scam in my business with amount of RM 70K, the person run away. did the police report but the pegawai penyiasat says it was commercial case. and if i want to pursue, he suggest for me to go to court. I didt engage lawyer la coz no money.

Since then, i using my saving to settle debt until no more money lagi to pusing around and i stop paying the bank for CC and PL. Car loan still pay coz takut kene tarik..
Summary of my Loan as in CCRIS
Car 1 = Bank M okay
Car 2 (wife) = Bank R okay
Car 3 ( Brother) = Bank P outstanding 3 month. ( my name but my brother paid monthly)
PL = Writ Ingkar says bank want RM 125K ( initial loan was RM80K)
CC = Writ Ingkar says bank want RM 15K ( latest reminder was to proceed with WSS)

What happen now as 3 April 2017, the PL bank want RM 10K to settle out the outstanding.
If not, their will start the CP proceeding.

Question = I have check the CTOS date 31 March 2017 but the "Bankruptcy Proceeding thru New paper is Nil. This might due to the attempt from the bank to deliver the Bankruptcy Notice (BN) to me was unsuccessful due to change of delivery address.
The writ ingkar their post to my parent house at kampung.
Surely PL bank need to get court approval for substitute service right or their can just proceed with CP if the court allowed it.
And how if i want to check the existing of the BN for me? at makhmah tinggi? but i dont have any reference number,

To be continues.....
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answered on Apr 5, 2017 at 19:36
by   shahril
Continue.

Well, i have read most of the post here about the bankruptcy fight.
I also in the mist preparing the 
1. Notis Bertindak sendiri
2. Notis Niat Membantah CP
3. Saman Dalam Kamar
4 Affidavit.

Try to find online for William Chan Book.. However, MPH is sold out.
Will search other places.
By the way, in the 3 and 4, based on the sample in this forum had mention the amount.
What is amount about and how can i get it?
How to know the BN already expired if i dont received it.

For the CC bank, which mention want to proceed with WSS
Need help to clear out the flow.
Does bank have an option other to bankrupt person but applied WSS at court.
Which one come first.
OR WSS only come after someone is bankrupt.
OR WSS can come before bankrupt if the WSS sale still insufficient.
Need help to explain the flow.

About the item that bank/bailiff will take, does it follow rule from Bankrupcy act which dont take item not more than RM 5K?
Or bailiff can take everything such as TV, Home Theather.

Since i rent the house with kitchen cabinet included, possible for me to says the air cond also belong to owner, does they take air cond?

Does once WSS order received, i have certain day to pay to bank for them cancel the WSS application at court.
How the WSS been issue?
Same as BN and CP?

done for situation b4 bankrupt.

Continue scenario after bankrupt
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answered on Apr 5, 2017 at 20:15
by   shahril
Considering if i lose the fight. I need to return all the car which belong to bank.

However, since car 2 is newer than car 1.. can i ask my 2nd brother purchased it from me so i can pay him the monthly cost later after i been declare bankrupt?

The main problem is the Car 2 bank is same as PL bank.
Any thought guys?

Then, if i been declare bankrupt
1. does JIM inform my employer?
2. Am i been terminated, even i was the procurement manager, i not dealing with vendor as my staff will do and my signature in any approval was small due to i have GM procurement to endorse the proposal. the ultimate approval will come from head of company.
I am process and observed the process
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answered on Apr 5, 2017 at 22:39
by   shahril
If i been declare as bankrupt.
What is the rule of thumb for JIM to calculate and set my monthly payment to JIM

Appreciated whomever has the experince and share
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answered on Apr 5, 2017 at 23:26
by   kiki
Since you are still young and under a gainful employment does the AKPK Debt Management Program (DMP) ever crosses your mind as another way out to your debt mess?
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answered on Apr 6, 2017 at 00:32
by   shahril
Hi kiki

Yes.. i have go to AKPK.
However.. thier offer me to prolong the agreement max of 20 year and total payment go to half.

I think i cant do that.. 
Mean i have 400 left
1200 - 600 - 200 = 400

400 for amonth include fuel and etc.. very2 hard to move..
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answered on Apr 6, 2017 at 01:44
by   vkpc
Post the Creditors Petition here for checking.
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answered on Apr 6, 2017 at 01:51
by   kiki
PL = Writ Ingkar says bank want RM 125K ( initial loan was RM80K) 
If you were to be declared a bankrupt it will be by this debt creditor. What bank is it?


CC = Writ Ingkar says bank want RM 15K ( latest reminder was to proceed with WSS) 

From whom did you recieved the reminder to proceed the WSS.. the bank or its agent?

Question = I have check the CTOS date 31 March 2017 but the "Bankruptcy Proceeding thru New paper is Nil.
Of course its not in the CTOS report yet because they have not proceeded.
They are giving you due time. You wrote...

'' as 3 April 2017, the PL bank want RM 10K to settle out the outstanding. If not, their will start the CP proceeding.''

And how if i want to check the existing of the BN for me? at makhmah tinggi? but i dont have any reference number, 
How are you going to check status or even to fight, you don't even know your own case number.

The case number is written in the writ which you said... '' The writ ingkar their post to my parent house at kampung. ''

Check the number from your CTOS report again on the Penghakiman Ingkar.

Surely PL bank need to get court approval for substitute service right or their can just proceed with CP if the court allowed it.
If they cannot served the Notis Kebankrapan personally to you then getting the approval for a substitute service and advertising it on the newspaper is not a problem to them. But what advantages are you expecting from this process or procedure?
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answered on Apr 6, 2017 at 02:25
by   kiki
Try to find online for William Chan Book.. However, MPH is sold out. 
Will search other places. 


Try here

Which one come first. 
OR WSS only come after someone is bankrupt. 
OR WSS can come before bankrupt if the WSS sale still insufficient. 
Need help to explain the flow. 


Your cc debt and personal loan debt is two different entity furthermore by two different banks.
You cannot be made a bankrupt by the cc debt bank as the amount is currently less than Rm30K or RM50k later when they amended the Bankrupcy Act.

But if you are already made a bankrupt by the Personal Loan debt then there will be no WSS or whatsoever from anybody as you or or estate is govern by the JIM.
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answered on Apr 6, 2017 at 02:47
by   shahril
Hi Vkpc

Post the Creditors Petition here for checking
I still not received the bankrupt notice nor the creditor petition yet..
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answered on Apr 6, 2017 at 02:58
by   shahril
edited Apr 6, 2017 at 03:14
by   shahril
Hi Kiki

Below are my reply

PL = Writ Ingkar says bank want RM 125K ( initial loan was RM80K)  
If you were to be declared a bankrupt it will be by this debt creditor. What bank is it

It from collection center bank rakyat. 


CC = Writ Ingkar says bank want RM 15K ( latest reminder was to proceed with WSS) 
 
From whom did you recieved the reminder to proceed the WSS.. the bank or its agent

At letter with letter head by RHB. Will upload tomorrow..

Check the number from your CTOS report again on the Penghakiman Ingkar

I checked at efilling website.. mention the case is closed..

. But what advantages are you expecting from this process or procedure

Just guesing how much time i left to make nessesary arrangement  like ask my 2nd brother buy my car 2
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