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Settlement of bankruptcy

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asked on May 4, 2017 at 03:19
by   Thomas josh
Dear respected sir / mdm

First of all would like to thank this forum as many of my answers has been answered.

Let me explain my bankruptcy
I was made bankrupt on oct 2015 by a private company for not paying credit. Even though I did not owe them, still I have been bankrupt due to my partner use my name but regardless of what happen I have met them to resolve recently and they have agreed for me to pay 50% of the amount due with the rest they will kejar my ex partner for it. 

Right now I have debt as per follows
Ptptn = rm24k
Hire purchase rhb= 25k (18 months left) paid 66 months
The company = rm27k

My problem is that I have never defaulted in my hire purchase loan all these months therefore the bank did not tarik the car and this morning after discussin with credit department they say no demand letter has been issued to them as me not to trigger it just continue loan.

I have money to pay all the loans and dues. But when I call insolvency officer who attend my case, she is requesting me to stop paying the car and must tarik Even though I have NOT attended interview at insolvency and at the same time bank says dont trigger.

I hope there is someone here who can tell me what I can do. Now I have obtained letter from ptptn and the company but the hire purchase is my biggest issue. I have reas cases here where even after paying to insolvency the money was not paid to the respective department for months.
1. Can and will the bank agree to let me pay big amount but not clear loan so that they wont have to tarik the car?

2. Can and will the bank issue me a letter to say they do not wish to tarik the car and therefore allowing me to continue the loan

3. How long it takes for me to be discharge and what is the procedure to be discharge IF it is my part to get it discharged after the payment.

I am ao tired of being a bankrupt I have everything but nothing under my name and worst still I have factory overseas that has been operating since oct 2015 and I came back to malaysia in april 2016 that is needing me now for a big project in dubai.

Hope anyone can help me with answers
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answered on May 17, 2017 at 22:02
by   Thomas josh
Anyway , my OA informed me a few things,
1. The warta letter she will KIV for a while before she send it out.
2. Within 21 working days no objection then court can discharge me
3. This 21 days starts from the day i go to insolvency again to pay for my insolvency charges which is yet to be calculated as they need me to pay the penyelesaian amount first.
4. The creditor who made me bankrupt havent even file for P.O.D, had informed them and they are       working on it, ask me to help them file their P.O.D via my family friend.
5. She require me to pay my case management amount without miss until i am discharge by court.
6. She is going on maternity leave from next month, but she said should be solved this case within       2 months.
7. After i make payment for my insolvency charges payment, i should immediately file for SDK (SAMAN DALAM KAMAR) (SIC - english - Summons in chamber)

I hope if any of you have a lawyer to recommend in kedah, would be great. @VKPC recommended a forumer but i am really shy to ask for a favour, if he is willing to charge, i will be willing to meet him for his advice. or at least belanja lunch or angpao la. 
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answered on May 17, 2017 at 22:10
by   vkpc
@VKPC recommended a forumer but i am really shy to ask for a favour, if he is willing to charge, i will be willing to meet him for his advice. or at least belanja lunch or angpao la.

Maybe you can accompany Kunta-Kinti to Alor Setar High Court on 25 May 2017 for his decision against the Affin Bank to get a feel of what it is like to self represent.
Do you want to join the Avengers to help others?
What is your WeChat ID?
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answered on May 17, 2017 at 22:10
by   Jeff
@ Formula 1
What says u?

@ Thomas 
Send yr contact no. to my email address
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answered on May 17, 2017 at 22:36
by   Thomas josh
Maybe you can accompany Kunta-Kinti to Alor Setar High Court on 25 May 2017 for his decision against the Affin Bank to get a feel of what it is like to self represent. 
Do you want to join the Avengers to help others? 
What is your WeChat ID?


i cant seem to look at your profile to email you my wechat id.

Not that i do not want to be avengers, but sadly my work load is alot, and the reason why i am helping in lawyerment is because i am sure out there, there are people who are same as me, slow learner, need to learn every bit of everything to make decision.

would love to be there, i hope my OA can finalize my insolvency cost asap. Is there a specific time to be there? 

Bankruptcy is a mistake, we should be given a second chance and not suffering like this.
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answered on May 17, 2017 at 22:36
by   Thomas josh
@ Thomas  
Send yr contact no. to my email address


emailed
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answered on May 23, 2017 at 16:19
by   Thomas josh
Dear all avengers,

I am so happy today, RHB H/P legal team called me, after viewing all my document, they have agreed to put my account on hold and not file for P.O.D for the next 2 months ending 30/7/2017, i hope i can clear my bkcpy status by then. #touchwood

I have yet to receive call from my OA regarding the final calculation of insolvency cost which must be paid before submit for SIC(saman dalam kamar SDK), tried calling her, on and off MC due to going to delivery soon.
Now my biggest worry is PTPTN, i will negotiate with them by this week to not file for P.O.D. as well. hope it works.
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answered on May 23, 2017 at 16:48
by   jeff005
Thank you for updating..

accompany Kunta-Kinti to Alor Setar High Court on 25 May 2017 for his decision against the Affin Bank to get a feel of what it is like to self represent.  
Are you going?
There are others following to gain experience there too.
Dont worry Kunta wont eat you for lunch.
He is about 5'2"..
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answered on May 24, 2017 at 00:50
by   Thomas josh
@jeff,

wah he so small, i would love to attend, my problem is time, tomorrow i will follow up with my OA whether if i can come pay the insolvency cost on thursday, if she agrees and gives me the amount, yes i will be there on the 25/5/2017 sir.
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