Advertisement

Credit card (bankruptcy)

260 Views  ⚫  Asked 5 Months Ago
asked on Sep 21, 2017 at 22:08
by   blackrose_6868
I received a call from the court said that I will get a letter (summon) for bankruptcy @credit card? What should I do? I really don't have money to settle it.
Thank you.
1 had this question
Me Too
0 favorites
Favorite
[ share ]
12 Answers
 1   2   Next »  Last »

answered on Sep 21, 2017 at 23:42
by   vkpc
Don't worry.
That call is not from the Court.
Court don't call debtors to chase for payment.
It is from debt collectors who pretend to be from the Court.
They even bluff the phone system to show the Court telephone number.
No need to answer.
1 found this helpful
Helpful

answered on Sep 21, 2017 at 23:45
by   kiki
I received a call from the court
That is not the court but a debt collector.

What should I do? 
Response only when you get letter with genuine court case number.
0 found this helpful
Helpful

answered on Sep 22, 2017 at 18:27
by   blackrose_6868
Thank you for your helpful answers. But if i got the letter saying that from the court saying I need to attend? What should i do? If i go to AKPK, will they help me how to settle this matter?
0 found this helpful
Helpful

answered on Sep 22, 2017 at 21:44
by   kiki
But if i got the letter saying that from the court saying I need to attend? 

You got a cc debt with banks. 
After some times, the banks appoint debt collection agency for collection.
This  debt collector will do all sort of things and empty threats to scare you into paying so they get their commisions.

So when we replied its only the debt collector we meant it for you, to not get panic unnecessarily. Because debt collector cannot do anything to you if you don't have money to pay.

If banks want to take you to court then they will first get their lawyer to issue you letter of demand before they file a summon for you to go to court. Every summon to court will have have a file or case number.
Then its up to you to attend and contest or absent and court adjudged you as Juggement Debtor (JID) and later may proceed further into bankruptcy  if your debt is more than Rm30K ( RM50K after pindaan gazzeted).

If i go to AKPK, will they help me how to settle this matter?
 AKPK will not pay your debt. 

If you you go to AKPK ,  then they will help you to nego with the bank and continue your payment via AKPK  to the banks. 
So, once payment is regular then they will discontinue or stop giving your name to the debt collector.
0 found this helpful
Helpful

answered on Sep 25, 2017 at 07:34
by   blackrose_6868
What means (RM50K after pindaan gazzeted)? Tq
0 found this helpful
Helpful

answered on Sep 25, 2017 at 14:33
by   kiki
What means (RM50K after pindaan gazzeted)? Tq
It means when the amendment to the Bankruptcy Act has been endorse (likely in Oct.2017) then the minimum threshold for bankruptcy litigation should not be less than RM50K.
0 found this helpful
Helpful

answered on Sep 25, 2017 at 18:33
by   blackrose_6868
I got my ccris (one frm Ambank) and 6 ctos. If i go to akpk, shall i show them these documents?. Will they help me to nego with the payment of these creditors? Tq
0 found this helpful
Helpful

answered on Sep 25, 2017 at 22:02
by   vkpc
If you don't have any income, don't go to AKPK.
0 found this helpful
Helpful

answered on Sep 26, 2017 at 00:09
by   kiki
 If i go to akpk, shall i show them these documents?. 
Yes.

Will they help me to nego with the payment of these creditors? 
Normally they try to consolidate all the debt and and determine amount of for monthly installment.
You can always go for consultation first before accepting.

Yes,  if you don't have any regular income, then it is not recommended.
0 found this helpful
Helpful

answered on Sep 26, 2017 at 04:13
by   Anonmyous
Dear humble person

But if i got the letter saying that from the court saying I need to attend?
If you receive such a letter, not from the court, but from your creditor's lawyers. you have to attend. It does not matter if it is the first summons in court or any Notice of bankruptcy.

You have not provided much information to what extent your debts issues is in.
How many banks and total owing?
How old are the debts? When was the last repayments made to the banks?
Any housing loans or M/V loans?

If you are in gainful employment (Kerja Tetap) you can approach AKPK. They take into consideration a 10 year restructured repayments at a flat rate of 9-9.5% per annum. Any DMP for AKPK would mean a total consolidation of ALL  cards debts.

Attend any first summons in court to fight for reduced interests for credit cards cases. In certain cases, it may not exceed the 50K (minimum limit) within the 6 Years Limitation at lower interests rates.

I got my ccris (one frm Ambank) and 6 ctos. 
Very vague description. Post a copy of the CCRIS and CTOS here for better understanding. 
0 found this helpful
Helpful


 1   2   Next »  Last »

Your Answer





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