Savings account status after bankruptcy

198 Views  ⚫  Asked 1 Year Ago
asked on Sep 19, 2017 at 18:20
by   Vince79
edited on Oct 3, 2017 at 09:34
May I know if a person declare bankruptcy, will their all their savings with bank be frozen?
0 had this question
Me Too
0 favorites
[ share ]
1 Answers

answered on Sep 19, 2017 at 19:38
by   jeff005
When an individual has been Adjudicated  (made by a court of law) a Bankrupt  , all types of bank accounts, including investments account will be closed by BNM (Bank Negara). The monies will be transferred to the estate of the bankrupt at JIM (Jabatan Insolvensi) in due time.
0 found this helpful

Your Answer

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