Savings account status after bankruptcy

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asked on Sep 19, 2017 at 18:20
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?
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answered on Sep 19, 2017 at 19:38
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.
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