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What happen to my loan with other banks, after I was freed from bankruptcy?

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asked on Oct 8, 2019 at 12:30
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edited on Feb 13, 2020 at 16:32
 
I was declared a bankrupt in 2012 and have been serving payment of RM400 monthly. If I was not mistaken at that time I was told not to make payment for my loan with other banks.

What happen to my loan with other banks after I was released by the bank that declared me bankrupt?
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3 Answers

answered on Oct 8, 2019 at 13:04
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edited Feb 13, 2020 at 16:30
 
@Yoteh

I was told not to make payment for my loan to other banks.
Correct information from the Official Assignee.

What happened to my loan with other banks after I was released by bank that declared me bankrupt
You will not be released from your bankruptcy status until you have made good the Proof of Debts from other bank(s). The bank that had bankrupted you, released you from their books of accounts but not your bankruptcy status. Only by paying all your Proof of Debts creditors can released you from bankruptcy.
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answered on Oct 8, 2019 at 13:53
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edited Feb 13, 2020 at 16:22
 
@Yoteh,

1.  When you first reported in to Jabatan Insolvensi Malaysia you have to file a SOA (Statement Of Affairs).
2.  Inside the SOA, under Assets and Liabilities you have to fill up accurately.
3.  You have to declare ALL bank debts including hire purchase, even licensed moneylenders.
4.  The RM400 will be apportioned among all those other creditors who filed the Proof of Debt.
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answered on Oct 8, 2019 at 13:58
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edited Feb 13, 2020 at 16:21
 
Thank you very much @jeff005. Very helpful.
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