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credit card debt - Urgent Advises Needed

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asked on Oct 20, 2015 at 23:10
by   nickhun
I am still a student and lacking law knowledge. I urgently need help.
My father is currently having a huge amount of credit card debt.
My father is already 60+ years old, it is impossible for him to pay it off since the interest is too high, Basically we are paying interest.

1. Our family have been harasses by collection department and treated that there will be some officer visit.
Q: Are there such a law that allow officer visit our home?

2. We have been receiving letters from lawyer saying they will sue.
Q: Cant they (the bank) declare my dad for bankruptcy? What the point of collection department keep calling to harasses my family

3. The credit card debt belongs to my father.
Q: Will all the credit card debt be transfer or need to be paid by my mom or me and my siblings?
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2 Answers
answered on Oct 20, 2015 at 23:46
by   rayna
1. no they can't go to your home and harass your family. call the police.
2. does your father have any house/land under his name? any other loans?
3. if you can't pay, don't.  how long is the debt?
4. technically debts are non transferable, except to a guarantor.
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answered on Oct 21, 2015 at 05:05
by   jeff005
@ nickhun

Q: Are there such a law that allow officer visit our home?
There is no law stopping a bank officer from visiting a debtor"s home to negotiate a repayment from a debt owing to the bank. But you need not invite him/her in. If there are words of haressments, threats or intimidation, you can go and make a polis repot.

Q: Cant they (the bank) declare my dad for bankruptcy? What the point of collection department keep calling to harasses my family
Bankruptcy is the last legal action that can brought upon a debtor to recover oustanding debts exceeding 30K. Once detor has defaulted on a debt, the bank collection dept will start their "work". If they fail to, either the bank will start a Lawsuit or outsource it to Collection Agencies. That is when the Bill Collectors will start to make calls to intimidate the debtor pays up.

Q: Will all the credit card debt be transfer or need to be paid by my mom or me and my siblings?
The Debtor cannot "tranfer" the debt to anybody. So, your mum and anybody else is NOT liabe.
But the Banks can sell the debts to Collection Agencies (In some counties) but it is NOT practised in Msia yet and as the law governing this tactic is not in place yet.

Do go to this 2 websites to read on how Collection Agencies go about using unethical and unprofessional methods to recover debts for some banks. Not all CA are nasty. It is in Malay version. The Author is working on the English/Manglish version and should be out soon and will be posted in this Lawyerment Section.

.. https://www.facebook.com/ceritahutang" target="_blank" rel="nofollow">https://www.facebook.com/ceritahutang

.. http://www.ceritahutangbankdananda.com/index.php/2014/08/14/proses-tindakan-undang-undang-pinjaman-peribadipersendirian-bahagian-3/
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