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Can the bank still sue me after 7 years?

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asked on Dec 18, 2018 at 19:03
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edited on Dec 19, 2018 at 18:37
 
I have a car loan with a bank since 2004. In 2009, during bad times, I returned the car to the bank and in December 2009 the car was auctioned off. The bank later sent me a letter to claim the balance amount of RM23K+.

I contacted the bank officer as per the letter and was told to write in my repayment proposal. I did as advised and sent the letter by registered mail (I still have a copy of the acceptance slip by the courier company). Then after that, there was no news at all from the bank.

Fast forward till now, the bank sent a letter to me informing me that they have handed the case over to a company to recover the loan.

The guys from the company called me (4 times in total and every time it's different person), and I have told them under the Limitations Act, the bank had 6 years to claim the money but that has passed. The last guy then insists that I am still in debt with the bank but the amount is RM48k+ (which is non-sense to me since I have acted according to the bank officer and sent in the letter but it was the bank who has failed to reply me after all these years) and the bank can still go legal if they choose to.

My questions are:

1. Should I give in and negotiate with them or should I just ignore them?

2. What are the chances for the bank to go legal and sue me?

3. What are the chances that I would not have to pay based on this Limitation Act?

4. Since I have proof that I contacted the bank but the bank did not even respond (so I won't know if I should proceed on paying installments to which account and for how long or I have to make full lump sum payment) so can the bank just keep quite for so many years and charge interest or late payment fees on me?

Hope those who have similar experience to help advise. Thanks!
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8 Answers

answered on Dec 18, 2018 at 19:28
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edited Dec 19, 2018 at 18:38
 
The bank later sent me a letter to claim the balance amount of RM23K+.
Did you keep this letter?
Did the bank send you a Letter of Demand written by a lawyer?

Under Limitation Act, if the bank did not sue, after 6 years, they can no longer sue.
The only problem is to prove when is the exact starting date to count the 6 years.

If you pay them any amount, the 6 years will reset.
If you write any letter admitting any debt, the 6 years will reset.
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answered on Dec 18, 2018 at 22:42
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edited Dec 19, 2018 at 18:39
 
@vkpc,

Nope, it's not from a law firm.

It is not even a registered letter. It's just sent as normal mail letter informing me that the car was auctioned off successfully.

So according to the guy, the last payment I made was in 2009. And the last letter I sent to them was in January 2010.
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answered on Dec 18, 2018 at 23:43
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edited Dec 19, 2018 at 18:40
 
It's just sent as normal mail letter informing me that the car was auctioned off successfully.

This is an important letter.
Post image of this letter for checking.
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answered on Dec 19, 2018 at 10:01
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edited Dec 19, 2018 at 19:50
 
Here is the image file

https://drive.google.com/file/d/10HhTz0SVC58AsLumO4aFo2S2C3H05eCZ/view?usp=sharing

There is even not a letter head to it... LOL

So does it mean we can ignore all their normal reminder letters and only attend it if it is a Letter of Demand from them or a lawyer firm?

* I've blocked out the section of my personal details
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answered on Dec 19, 2018 at 10:31
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edited Dec 19, 2018 at 19:57
 
Keep this letter carefully.  You will need it as evidence if CIMB decides to sue.
Is your current address still the same as the address in the letter?

1. Should I give in and negotiate with them or should I just ignore them?
If they call again, tell them your lawyer advised you not to pay and you cannot go against your lawyer's advice.

Read how Aurora and Ayzek won against Affin Bank using Limitation Act.
https://www.lawyerment.com/answers/questions/12966/history-of-self-representing-people-who-won-against-lawyers-in-this-forum
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answered on Dec 19, 2018 at 10:56
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edited Dec 19, 2018 at 19:55
 
Yup, the address is the same all these years. Just like I told the guy the bank did not send any statements to me for all these years

So it means now, unless they get a lawyer to send me a Letter of Demand. For others I need to entertain them, right?
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answered on Dec 19, 2018 at 12:05
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edited Dec 19, 2018 at 19:56
 
So means now, unless they get a lawyer to send me a Letter of Demand.
For others I don't need to entertain them, right?
REPEAT: Tell them your lawyer advised you not to pay and you cannot go against your lawyer's advice.
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answered on Dec 19, 2018 at 16:16
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edited Dec 19, 2018 at 19:56
 
Okay, noted. Thank you very much.

Will see how things go from here.
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