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Ambank Offers 95% Settlement Amount from Total Outstanding

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asked on Feb 8, 2018 at 16:49
by   hilmidris
Dear All,

I have 3 outstanding loans from Ambank (formerly MBf Finance Berhad) totalling to RM40,000. However since 1992, the Bank has failed to initiate any legal proceedings against me until today to which I have questioned them the reason behind it to no explanation whatsoever.

Last week, Kudrat & Partners rep called me and offered me a 95% discount to settle 2 out of the 3 accounts being credit card and personal loan. But there was no indication on the HP loan totalling to 27K outstanding.

Question: 

1. Should I take up the offer made by the Debt Collector and settle the first 2 accounts amounting to RM2,000 thus leaving only the HP loan outstanding? What is the legal implication to this action from the legal point of view. I was told that one reason why they have not proceed with legal action is because they have erred under the 'time-out' Act stating that they have to bring this matter to court within 6 years from date of loan default.  

2. Will the Bank be able to take me to court over the 3rd outstanding loan should I pay for the first two? I have been told that once I agree in writing or action to pay for the 2 loans, the bank will receive a breath of new life to sue me in court. Is this true?

Please advise dear Sirs.

Regards,
RH
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2 Answers

answered on Feb 8, 2018 at 21:13
by   jeff005
edited Feb 8, 2018 at 21:15
by   jeff005
2. Will the Bank be able to take me to court over the 3rd outstanding loan should I pay for the first two? I have been told that once I agree in writing or action to pay for the 2 loans, the bank will receive a breath of new life to sue me in court. Is this true? 
Even paying RM10 as duit kopi will reset the tick tock tick tock clock.
You might as well commit Hara Kiri later if u sign anythiiing...
Under(there)stand or not?
The above have been explained to u b4 long long ago.
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answered on Feb 9, 2018 at 12:39
by   hilmidris
Duly noted with much thanks, kind Sir.

After all the harassments, kepala jadi blur..

Thank you again for the head's up!

Regards.
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