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Settlement with Malaysia Department of Insolvency (MdI)

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asked on May 18, 2017 at 17:13
by   danny danny
edited on Jan 31, 2018 at 13:34
 
I've been declared bankruptcy since March 2016 (only knew it when my bank called me up to confiscate my saving), surrendered myself to Jabatan Insolvensi Malaysia (JIM) and have been consistent with my payment throughout.

It was a failed business whereby the main tenant sued me for rental of RM120k before interest, total final amount is RM140k after interest. With little knowledge on this matter, my appointed lawyer has been trying to get me out of it but ended up I paid X amount of lawyer fees to them and I'm still stuck with my bankruptcy status.

Now I'm interested with settlement with JIM to clear my bankruptcy as it is very stressing to run up and down to meet my lawyers and their legal fees. My proposed payment breakdown to JIM as below:

1) RM from my frozen bank account: RM17k (back in March 2016)
2) Monthly repayment to JIM: RM4.5k (to date)
3) Proposed settlement to JIM: RM50k (the max I could offer)

Total of RM71k (RM17k + RM4.5k + RM50K) to clear myself from bankruptcy from JIM. Do you think it is sufficient for JIM to accept my offer? I know I'm only declared bankrupt for 13 months but it is indeed affecting my daily activities.

Any kind suggestion will be deeply appreciated.

Thank you.
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answered on Jan 15, 2018 at 15:33
by   danny danny
edited Jan 31, 2018 at 17:03
 
Please PDF and post an authorization letter using with the signature you have signed in the Statement of Affairs (SOA). Then post it here.

Where is your Jabatan Insolvensi Malaysia (JIM)? Take note that for out of KL, hotel, taxi, tolls, meals must be prepaid. Nothing is free. Only the advice channeled out from this forum is free of charge. Please includes a Retainer Fee in case your Official Assignee (OA) is on leave.

Thank you.


My Jabatan Insolvensi Malaysia is at Shah Alam.

Can you leave me your contact details? I guess its better for us to discuss privately over this matter. Thank you.
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answered on Jan 15, 2018 at 16:28
by   jeff005
edited Jan 31, 2018 at 17:05
 
I guess its better for us to discuss privately over this matter.
Can do it here. Nothing private.. very eitchy only. I just contact your OA only..
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answered on Jan 15, 2018 at 16:45
by   danny danny
edited Jan 31, 2018 at 17:05
 
Can do it here. Nothing private.. very eitchy only. I just contact your OA only..

I've email to you. We can take it on from there. Cheers!
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answered on Jan 17, 2018 at 12:38
by   jeff005
edited Jan 31, 2018 at 17:08
 
Oops.. I am in Thailand now working. I cannot access my GMail from here. Will attend to your special request when I come back before Chinese New Year.

Thanks for writing. Cheers! Kong Hee Fa Chai!
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answered on Jan 17, 2018 at 13:50
by   danny danny
edited Jan 31, 2018 at 17:08
 
Oops.. I am in Thailand now working. I cannot access my GMail from here. Will attend to your special request when I come back before Chinese New Year.

Thanks for writing. Cheers! Kong Hee Fa Chai!


Oh, so sorry about it! Sure, would like to get some advice on bankruptcy matter from you too hence its better for us to take it offline. Cheers & Happy Chinese New Year to you too!
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answered on Feb 19, 2018 at 17:53
by   danny danny
Hi @jeff005 , looking forward to your reply via my email. Thank you
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answered on Feb 19, 2018 at 20:28
by   jeff005
edited Feb 19, 2018 at 20:38
by   jeff005
Hahaha

Who ask you to ask me to quote  "my charges".??
That is why i did not reply.
I have no charges..!!

We meet as friends, chat as friends, no more no less. Just pay for the Teh Tarik or cigarettes.

I am @OUG KL
Bring all the documents in hand.

Note I will be back working in Thailand next early next month.
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