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How to be released from bankruptcy? CGC requesting for a lump sum payment.

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asked on Jun 26, 2019 at 11:40
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edited on Jul 7, 2019 at 00:57
 
Really need help as this is affecting my daily life. Asking to help my mother-in-law to lift up the bankruptcy status on her.

My mother-in-law is a 68 year old, diagnosed with renal cancer stage 4 and the cancer has spread to her brain with 2 lesions. She is currently not working and only depending on her children to manage herself. She owns a house in Melaka, which my husband is paying for it RM1,850/month. My husband is currently under Agensi Kaunseling dan Pengurusan Kredit (AKPK) as to help to pay for the house. Original monthly installment for the house was RM2,850/month before joining AKPK. They are trying to sell the house but unfortunately the bankruptcy status of his mother is not allowing them to do so. She has received a letter from CGC requesting for a lump sum payment of RM60,000 in order to remove her bankruptcy status.

Here I am, asking for help, if you kind souls have any ways to suggest, or letter formats you can share for me to help them expedite this.

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answered on Jun 27, 2019 at 16:00
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edited Jul 7, 2019 at 00:58
 
Asking to help my mother in law to lift up the bankruptcy status on her. 
As a bankrupt, did your mother report herself to Jabatan Insolvensi Malaysia (JIM) for her case management?
 
She owns a house in Melaka which my husand is paying for it RM1,850/month. 
If really she owns the house then her creditor would have terminate the loan and auction the house. 

What was the cause of her bankruptcy and when?
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answered on Jun 29, 2019 at 01:13
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edited Jul 8, 2019 at 02:12
 
@Hanskacak

letter formats you can share for me to help them expedite this
What format do you want?
Just reply to CGC whether you can pay the RM60K or not.

And you better do things fast from now. I have too many relatives and friends who can move on within months of having stage 4 cancer of any type.

You have tendered too little details on the bankruptcy.
First, when was she bankrupted?
Second, has she reported in to Jabatan Insolvensi Malaysia (JIM)?
Third, has she got other debts?
Fourth, have you got RM60K to settle first.
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answered on Jul 5, 2019 at 11:09
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edited Jul 17, 2019 at 15:21
 
@rara_

Thanks for your response. To answer your questions:

As a bankrupt did your mother report herself to Jabatan Insolvensi Malaysia (JIM) for her case management? 
Yes, she has been paying to JIM for nearly 5 years now. She is expected to reach her 5th year mark on this coming November.

If really she owns the house then her creditor would have terminate the loan and auction the house. 
The house is under 4 names. My late father-in-law, my husband, his sister & my mother-in-law.

What was the cause of her bankruptcy and when?
I was told that she was a guarantor of a business loan some time back.
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answered on Jul 5, 2019 at 11:14
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edited Jul 17, 2019 at 15:38
 
@jeff005,

Thanks for your response. To answer your questions:

What format do you want? Just reply to CGC whether you can pay the RM60K or not.
I have drafted a letter on the inability for her to pay back the RM60K. Now awaiting Institut Kanser Negara to revert back on the medical report requested. It will take a month for the report to be out.

First, when was she bankrupted?
2013

Second, has she reported in to Jabatan Insolvensi Malaysia (JIM)? 
Yes. She has been paying to Jabatan Insolvensi for nearly 5 years now. Reaching her 5th year mark this coming November.

Third, has she got other debts? 
Yes. She got a loan with Tekun. (as I was told)

Fourth, have you got RM60K to settle first. 
Unfortunately we don't.
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answered on Jul 7, 2019 at 22:31
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edited Jul 17, 2019 at 15:44
 
@Hanskacak

Sorry to know your mother-in-law bad prognosis.

I am not very clear about your mother-in-law situation as I do not own a house before (ever). But I have the followings concerns by reading past postings with house problems under this forum.

Below are my concerns.

1.  If your father-in-law died "intestate" (without leaving a WILL), your mother-in-law's share will still be locked under the bankrupt's estate. Being discharged under Medical Grounds may not wipe out the bankrupt's estate.

2.  Without a WILL (father-in-law-deceased), it will take a year to get a letter of administration order from the High Court.

3.  Even if can sell the house of which all survivors must be located and agreeable to dispose of this property. And as this is under a housing loan with a bank, it may have other issues.

4.  Another issue will, can be from "Tekun", must settle this creditor too. Please do not just of think of CGC only. Paying RM60K to CGC will not remove her bankruptcy status if there are any other Proof of Debts Creditors. It will only discharge her debt with CGC but NOT her bankruptcy status. Don't simply waste moneys, even single sen saved can be used to make her life more comfortable now.

5.  Another issue is very subjective which I had been involved in family matters. Noted that "cancer has spread to her brain with 2 lesions". It would be prudent that your mother-in-law make a WILL to pass her share to her son and by making an executable WILL, her mind must still be alert and not clouded by a disease. 

6.  My personal opinion is that your mother-in-law's case may have complications down the road, it would be prudent to seek accurate advises from real practicing lawyers.

Time is no longer a luxury for your mother-in-law..
Do some homework with the TEKUN issue (you may discuss with your mother-in-law's Official Assignee}.

(Caveat : The above comment is written by a Q&A registered User. It represents a personal point of view only and not be regarded as legal advice.)
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