Advertisement

In bankruptcy yet housing loan interest increasing

339 Views  ⚫  Asked 1 Year Ago
asked on Jul 7, 2017 at 21:14
by   AppleLau
edited on Dec 31, 2017 at 08:07
 
I have no idea at all that i am in the Bankruptcy. After I can't withdraw my money from ATM machine, only I was aware that my bank account has been closed. The banker is RHB who is suing me for not paying my personal loan.

Before that I negotiated with RHB Bank for full settlement by voiding the interest. The first settlement amount they put forward was RM28,000 but I still can't afford to pay. I negotiated with them again and they said will come back to me. I waited for 3 months and there was no answer. It was my fault as I did not follow up too. Now, I am already in bankruptcy.

But all those doesn't matter because I don't want to waste time fighting the case. I do not want to affect my job. I have 3 Saving Accounts - Public Bank, Maybank and Ambank. Fortunately Ambank is the bank which is still active and I am using to draw salary. I do not know when it will be closed too. I have go to Insolvency department to tell them I want to do the full settlement and I already got the Proof of Debt (POD) from RHB bank for the amount to settle.

I have 2 houses, one fully paid, the other monthly repayment to OCBC bank.  In the bankruptcy now, I have money to pay the housing loan but any payment must go through the Jabatan Insolvensi. Now I am in the mid of doing a full settlement but OCBC interest keeps on increasing. I felt this is very unfair to me. Not that I don't have money to pay OCBC but it is they can't accept my money.

Is there any way for me to get my monthly housing loan repayment back to normal interest rate? I ask the Insolvency officer, they said mine is the first case, so I don't know what to do. I can't afford to pay my housing loan if the interest keeps increasing. 
0 had this question
Me Too
0 favorites
Favorite
[ share ]
5 Answers

answered on Jul 8, 2017 at 04:30
by   jeff005
edited Dec 31, 2017 at 08:24
 
Not that I don't have money to pay OCBC but it is they can't accept my money.
they said mine is the first case.
Must be new pegawai insolvensi. They should be thousands of such cases.
OCBC can't/won't accept your payment is that the possibility, the house has ready been scheduled for auction. Anyway any payments  must go thru JIM.

Is there any way for me to get my monthly housing loan repayment back to normal interest rate? I can't afford to pay my housing loan if the interest keeps increasing. 
Why are you so concern about the interests element when you are losing 2 houses. Lelong is way below market value esp now the property market is very slow.

I have money to pay the housing loan
It is past that stage. Now Jabatan Insolvensi Malaysia (JIM) will arrange your payments to ALL Creditors who file POD.

When you you bankrupted?
Have you reported in to JIM? 

so I don't know what to do
Start reading what is bankruptcy is all about and how to adjust to the new lifestyle for at least 3 years. 
0 found this helpful
Helpful

answered on Jul 8, 2017 at 19:11
by   AppleLau
edited Dec 31, 2017 at 08:43
 
Thanks Jeff for the answer. Yes you are right, JIM officer is very new. End of May 2017 only I know I am a bankrupt.  Yes already reported to JIM and will do full settlement by this month to protect my house from being 'lelong' because I still want to service back the loan. The other house already fully settled.
0 found this helpful
Helpful

answered on Jul 11, 2017 at 18:22
by   Thomas josh
edited Dec 31, 2017 at 08:38
 
So, if you have paid in full the amount demanded by the bank (Proof of Debt), continue to service the loan of the housing if they did not stop you from paying, I did this without knowing and turnout RHB couldn't file (Proof of Debt) against me because if they demand, they must refund back everything I paid to them during the months I was already declared bankrupt and on top of that got denda from mahkamah. 

So I negotiated and the outcome is as what it is on the picture below. The same thing, my government debt (PTPTN) also filed for Proof of Debt even after I discussed with them a few times before i surrender myself to Jabatan Insolvensi Malaysia (JIM), but their legal department filed anyway, so my discharge hearing date postponed and I miraculously got a letter from PTPTN HQ that they tarik balik the (Proof of Debt), it was a tough negotiation but somehow I did it. 

PTPTN gave me official letter while RHB said they couldn't give the letter because their office is not open to public, so by email instead.

0 found this helpful
Helpful

answered on Jul 11, 2017 at 18:34
by   Thomas josh
edited Dec 31, 2017 at 08:31
 
Not that I don't have money to pay OCBC but it is they can't accept my money. Is there any way for me to get my monthly housing loan repayment back to normal interest rate?

Sorry I did not understand this the first time I read it, anyway, budi bicara, you inform the OA (official assignee) that your other house (the one that you paid full) is stayed by parents who is old age and do not have any kind of income and that you are supporting them, list down in your expenses. 

I have gone through a phase where no one in insolvency knows how to handle: the DEBTOR who wants to do a full settlement in one single payment. they just **** it up, was suppose to be discharged last month, until now postponed twice because once due to my OA went for maternity leave so even after waiting for 21 working days before i could file for saman dalam kamar to be discharged, I was told to wait another 21 working days and then when I when for my hearing they said got new Proof of Debt, it sucks to be a bankrupt, even you have money to pay they still play with your life. 

Finally I understand why is there Avengers team in this forum to help others fight bankruptcy. Insolvency officer, the lawyer and the runner for court are suppose to help you since they are receiving the credit, and obviously commission money from the court runner but they just ignore. Really sad.
0 found this helpful
Helpful

answered on Dec 22, 2017 at 14:20
by   nur_shahida85
edited Dec 31, 2017 at 02:27
 
Hi Thomas josh

May I know which Jabatan Insolvensi you're dealing with? Sounds like my problem same like yours.
0 found this helpful
Helpful

Your Answer





By posting your answer, you agree to the privacy policy, cookie policy and terms of service.