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Apply for discharge from Bankruptcy

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asked on Apr 25, 2017 at 02:03
by   Mich0618
I have been declared from bankruptcy since 2012, my total owing to bank RM125K with Hong Leong Bank (formerly Eon Bank).

I am the 2nd name of the housing loan and the 1st name passed away in 2006.

As of todate I have paid RM62K++ to JIM and I do make my monthly payment and yearly permit renewal to Singapore to work.

May I know do I have a change to apply discharge from bankruptcy?
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2 Answers

answered on Apr 25, 2017 at 05:31
by   kiki
May I know do I have a change to apply discharge from bankruptcy?
If you have reached the 5 years case management, maybe you can check with your OA.
Below are excerpts for everybody's reading as info.

HOW CAN I BE DISCHARGED FROM BANKRUPTCY ?
If you have paid your debts in full, the court will annuls the Receiving and Adjudication Order thus you will become free from bankruptcy immediately.
However, the Bankruptcy Act 1967 has been amended, giving discretionary powers the Official Assignee to allow certain categories of bankrupts to be discharged. The Act was amended to facilitate the discharge of some bankrupts to give them a “second chance” to become actively involved in business again.
There are also other categories of bankrupts who will also get reprieve under the amended Act. They are guarantors of loans, those who suffered due to the financial turmoil, and bankrupt who are sick, old and jobless.
The Official Assignee applies several criteria – your conduct and behavior as a bankrupt before and after bankruptcy, the reason for being declared a bankrupt, age, financial status and ability to repay debts. Thus if you have carried out your duties as a bankrupt you can apply to the Official Assignee for your discharge. Examples : Making regular payments to the Official Assignee and full cooperation during the bankruptcy proceedings.
You will not be automatically discharged from bankruptcy. You have to apply to the Official Assignee for your discharge after 5 years from the date of your Receiving and Adjudication Order. The Official Assignee does this by issuing a “Sijil Pelepasan Pegawai Pemegang Harta” or “Official Assignee’s Discharge Certificate” to you. The Official Assignee may still refuses or delay your discharge.
2016 amendment.

Pindaan seksyen 33b
36. Seksyen 33b Akta ibu dipinda dengan memasukkan selepas subseksyen (2) subseksyen yang berikut:
“(2a) Notwithstanding subsection (2), no objection shall be made against—
(a) a bankrupt who was adjudged bankrupt by reason of him being a social guarantor;
(b) a bankrupt who is registered as a person with disability under the Persons with Disabilities Act 2008
[Act 685];
(c) a deceased bankrupt; and
(d) a bankrupt suffering from a serious illness certified by a Government Medical Officer.”.
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Seksyen baharu 33c
37. Akta ibu dipinda dengan memasukkan 
(c) a deceased bankrupt; and
(d) a bankrupt suffering from a serious illness certified by a Government Medical Officer.”.
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Seksyen baharu 33c
37. Akta ibu dipinda dengan memasukkan selepas seksyen 33b seksyen yang berikut:
“Automatic discharge
33c. (1) A bankrupt shall be discharged from bankruptcy under this section on the expiration of three years from the date of the submission of the statement of affairs under subsection 16(1)—
(a) if the bankrupt has achieved amount of target contribution of his provable debt; and
(b) if the bankrupt has complied with the requirement to render an account of moneys and property to the Director General of Insolvency under
paragraph 38(1)(b).
(2) Contribution of the bankrupt’s provable debt referred to in paragraph 1(a) shall be determined by the Director General of Insolvency and the Director General of Insolvency shall take into account—
(a) the provable debt of the bankrupt;
(b) the current monthly income of the bankrupt;
(c) the extent to which the current monthly income of the bankrupt’s spouse may contribute to the maintenance of the bankrupt’s family;
(d) the monthly income that the bankrupt may reasonably be expected to earn over the duration of the bankrupty, taking into account—
(i) the previous and current monthly income of the bankrupt;
Kebankrapan (Pindaan) 25
(ii) the educational and vocational qualifications, age and work experience of the bankrupt;
(iii) the range of monthly income earned by persons who are employed in occupations, positions or roles similar to that in which the bankrupt is, or can be expected to be, employed;
(iv) the effect which the bankruptcy may have on the bankrupt’s earning capacity or other income;
(v) the prevailing economic conditions; and
(vi) the period of time during which the bankrupt is likely to be capable of earning a meaningful income;
(e) the reasonable expenses for the maintenance of the bankrupt and the bankrupt’s family; or
(f) the property of the bankrupt under paragraph 48(1)(b)
which may be realized during the period of three years.
(3) For the purposes of a discharge under this section, the Director General of Insolvency shall serve a notice of the discharge to each of his creditors not less than six months before the expiration of the period referred to in subsection (1),
but such notice shall not be served earlier than a year before the expiration of such period.
(4) A creditor who wishes to object to the discharge under this section shall, within twenty-one days from the date the notice in subsection (3) is served on him, make an application as prescribed to the court for an order to suspend the discharge under this section, but no objection shall be made except on the following grounds:
(a) that the bankrupt has committed any offence under this Act or under section 421, 422, 423 or 424 of the Penal Code;
(b) that the discharge under this section would prejudice the administration of the bankrupt’s estate; or
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(c) that the bankrupt has failed to co-operate in the administration of estate.
(5) A creditor who fails to file an application in accordance with subsection (4) is deemed to have no objection to the discharge.
(6) A notice of application under subsection (4) shall be served on the Director General of Insolvency and the bankrupt at least fourteen days before the date of hearing of the application and the court shall hear the Director General of Insolvency and the bankrupt before making an order on the application.
(7) Upon an application made under subsection (4), the court may, if it thinks just and expedient—
(a) dismiss the application and approve the discharge under this section; or
(b) suspend the discharge under this section for a period of two years.
(8) Where the court makes an order under paragraph (7)(b),
the bankrupt shall—
(a) continue to fulfil his duties and obligations under this Act during that period; and
(b) be discharged automatically at the end of the two years’ period.
(9) The Director General of Insolvency shall, upon the application of any interested person and payment of the prescribed fee, issue a certificate of automatic discharge to the applicant—
(a) upon the making of an order under paragraph (7)(a); or
(b) where there is no objection under subsection (4), on the expiration of the period referred to in
paragraph (1)(a).”
.
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answered on Apr 27, 2017 at 02:18
by   jeff005
@ Mich0618

When did you reported in to JIM?
When did you started on the 1st payment for the 5 years case management?
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