What are the possibilities and procedures for my bankruptcy discharge?

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asked on Sep 11, 2017 at 05:20
by   kenji66
edited on Oct 10, 2017 at 10:59
I have been sued bankrupt by a bank in 2008 due to being a guarantor for a loan which I signed as the director for a Sdn Bhd. I am so lucky to be a silent reader in this forum since 2009 gaining knowledge along the way and understanding that it was not the end of the world. Thus, I made myself reported to Jabatan Insolvensi Malaysia (JIM) in 2009 after reading a lot of Q&A in this forum. Thanks for that. 

From 2009 until now I have been making prompt monthly payment to JIM but have not submit any 6 months of financial status to them. I am hoping so much to ask for discharge. 

I have contacted JIM Official Assignee last week and made an appointment with them to discuss the procedure and any possibility that I be discharged with the permission of the Director General of Insolvency (DGI). With that total amount of debts, I think I can't settle in full with the bank and even asked for discount. 

Would like to ask what should I do if the DGI rejects my application? Actually I am so depressed that I have bleak future due to my current bankrupt status. I have lost lots of opportunities when I was between 31 and 38 years old. I start to feel like a failure without success again. It ruins my life. I know auto discharge is not going to happen for my case. 

Any advise from all 'sifus' here or steps I should prepare are really very, very much appreciated. 
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answered on Sep 21, 2017 at 23:48
by   kiki
Other then that it already fully drafted what I need. 
Don't forget to add the date..
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answered on Feb 28, 2018 at 14:42
by   Ikilim
edited Apr 4, 2018 at 23:36
Hi Kenji, 

Possible to know how is the status on your discharge? Actually, my story same as yours. My father used my name for his business but end up failed and the total debt is about RM900,000. That is impossible for me to clear the debt even after 50% discount as I just a normal worker at travel agency and this is really kill me when I heard I'm a bankrupt.

When read your story, I'm so envy that your officer was so helpful & really hope that you can succeed as it will give hope to us as well. 

Hope to see your good news. 

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