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Bankruptcy: How soon will I be fully discharged after making full settlement to banks that made me bankrupt?

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asked on May 1, 2018 at 15:07
by   Tom chan
edited on May 6, 2018 at 19:39
 
I just realized I was being declared a bankrupt recently in April 2018 for credit card  debt 18 years ago. Principle amount of RM 5,000 ballooned to RM 95,000. 

As my current job requires me to travel overseas frequently, I am afraid I might lose my job.

I would like to know how many months will it take to be declared discharge from bankruptcy if I fully settled to the banks that made me bankrupt and allow me to travel oversea?

Mean while I still owe 3 other banks for credit card and intend to start paying them monthly to avoid being sued.

Not sure if these 3 other banks have submit PODs (Proof of debts) and where to check whether there have submitted?
 
Kindly advise.
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answered on May 1, 2018 at 22:15
by   kiki
edited May 6, 2018 at 19:40
 
I just realized I was being declared a bankrupt recently in April 2018 for credit card  debt 18 years ago. Principle amount of RM 5,000 ballooned to RM 95,000.

What bank is this..!!?
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answered on May 1, 2018 at 22:42
by   Tom chan
edited May 6, 2018 at 19:41
 
The bank that made me a bankrupt is Affin Bank and they have offered me some discounts for full settlement around RM40,000 but I really can't afford to pay.   
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answered on May 1, 2018 at 22:58
by   vkpc
Affin Bank also tried to make Puan kiki a bankrupt but she managed to block it.
You should have asked for help earlier.
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answered on May 1, 2018 at 23:15
by   Tom chan
edited May 6, 2018 at 19:42
 
I didn't realize I was being sued and only found out when I can't travel oversea.

How long will it take if I full settle with them? Kindly advise.
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answered on May 2, 2018 at 08:05
by   vkpc
edited May 6, 2018 at 19:43
 
Here is another guy who beat Affin Bank at Putrajaya

https://www.lawyerment.com/answers/questions/12469/self-represent-defeating-affin-bank-s-lawyer-at-court-of-appeal

When did you find out you are a bankrupt or that you can't travel?
You didn't receive summons from Affin Bank?

How long will it take if I full settle with them? Kindly advise.
About 3 times longer than you expect.
You also need to fully settle all your other credit cards, car and house loans.
Paying installments on time will not get you out of bankruptcy.
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answered on May 2, 2018 at 12:47
by   Tom chan
edited May 6, 2018 at 19:47
 
I also found that my account was frozen. I wasn't aware I was being sued since I didn't receive any summons or warning. I have shifted house.

I still have existing housing loan, car loan which I applied in 2016. Meaning I need to full settle all to get out of bankruptcy?

Could I appeal to Affin to withdrawn this bankruptcy case? Can this happen? If not I am really in deep trouble.   

     
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answered on May 2, 2018 at 13:57
by   vkpc
edited May 6, 2018 at 19:50
 
Another girl who beat Affin Bank upside down

https://www.lawyerment.com/answers/questions/10155/congrats-to-aurora-for-high-court-appeals-win?g=6

I also found that my account was frozen. I wasn't aware I was being sued since I didn't receive any summons or warning. I have shifted house.
Which date you found out?

I still have existing housing loan, car loan which I applied in 2016. Meaning I need to full settle all to get out of bankruptcy?
Yes.

Could I appeal to Affin to withdrawn this bankruptcy case? Can this happen?
No. Affin Bank has no power to withdraw any bankruptcy even if they want to.

If not I am really in deep trouble.
Maybe you could report in to Jabatan Insolvensi and then tell them that you want to fight this case in Court to get out of bankruptcy and ask them for a letter giving you permission to sue Affin Bank.

Once you get this letter, you can apply to the first Court to set aside the judgement they obtained on the credit card debt on the basis that the debt was expired under Limitation Act.

Once you manage to set aside the Judgement, you can then apply to the High Court to annul your bankruptcy.
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answered on May 2, 2018 at 14:38
by   kiki
edited May 6, 2018 at 19:51
 
I wasn't aware I was being sued since I didn't receive any summons or warning. I have shifted house.

Yes, too bad, i really feel sorry for you.

If you have reached this forum at the Writ Summon stage, we would have easily nailed them.
Now many things are at stake..
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answered on May 2, 2018 at 15:28
by   Tom chan
edited May 6, 2018 at 19:53
 
Thank very much for your kind advice. Appreciate it very much.

I found out on 26 April 2018 when my account was freeze. I checked and found that I was declared bankrupt on 4 April 2018. 

As I still owe other 3 banks for credit card 18 years ago, can they accept my payment now for full settlement or need to go through Jabatan Insolvensi Malaysia?
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answered on May 2, 2018 at 15:49
by   vkpc
edited May 6, 2018 at 19:54
 
As I still owe other 3 banks for credit card 18 years ago, can they accept my payment now for full settlement or need to go through Jabatan Insolvensi Malaysia?

All payments must go through Jabatan Insolvensi.
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