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No listing of debt in CCRIS credit report

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asked on Mar 22, 2020 at 23:49
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edited on Sep 8, 2020 at 16:50
 
I used to have a credit card under a local bank back in 2008. Then after losing my job I ceased paying and two years ago I was contacted by a collector on behalf of the bank (that's what they said) and made arrangement of payment on a monthly basis.

Recently it just crossed my mind to go and get my credit report CCRIS from Bank Negara Malaysia (BNM). In the report there is no entry at all about my credit card debt with the particular bank. I asked around and I got different feedback. I don't know which to follow.

My question is:
Why did it not appear in the report, do I still have to pay and what will happen if I don't or refuse to pay (there are threats made by the collectors). Thank you.
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6 Answers

answered on Mar 23, 2020 at 09:46
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edited Sep 8, 2020 at 16:53
 
@Basha,

Personal views:

1. Go get a CTOS statement of yourself to complement your CCRIS.

2. CCRIS is 99.9% accurate but given the long period of no update from banks, the 0.1% loss of data can be compromised from their systems. Nothing alarming. Many people misread their CCRIS. Why don't you post a image (with your personal details deleted) for better clarifications?

3. I ask around and I got different feedback..
Why don't you post those feedback here for interpretations?

4. what will happen if I don't or refuse to pay
Post the CTOS statement here for further discussions.
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answered on Mar 29, 2020 at 11:38
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edited Sep 8, 2020 at 16:54
 


This is the CTOS report that I got. Is it sufficient? Please let me know if I need to get the full report. Thank you.
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answered on Apr 5, 2020 at 12:45
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edited Sep 9, 2020 at 14:40
 
@Basha,

What you see is what I see and what everybody see.
Your CTOS only shows no bankruptcy proceedings (yet)..

1. There is no mention of when you ceased paying, year, month.

2. There is no mention of the amount asked by the bank or its appointed bill collection agency.

3. What were the threats "issued" by the collectors?

4. You did not post a copy of your CCRIS here. So, how to make comparisons or complementary comments?

5. What feedbacks did you get? How do you know which are appropriate ones? You have asked for "answers" here and yet when there is Q2Q, no answers is tendered.

what will happen if I don't or refuse to pay
The consequences of not paying your creditors is awesome.
If owing Moneylenders, paint could be splashed at your car, house, harassment and intimidation at workplace the consequences of bankruptcy proceedings can be initiated. Only you, yourself can understand better.

The CTOS that you have posted out is just CREDIT INFO AT AT GLANCE.
You yourself is fully aware it is non-functional, not in tandem of what you have asked in your content post above.

Why did it not appear in the report, do I still have to pay
If it was not reported in CCRIS then no need to pay to the Creditor Bank, how to answer you?

Owing moneys need not pay back?
The bank creditors have given the option to pay by instalments.

Under the current economic crises, if all debtors cannot pay back their loans, even by instalments, I would expect the banks to report themselves in to JIM (Jabatan Insolvensi Malaysia) by end of 2021, just like what had happened to Greece and Venezula.
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answered on Apr 10, 2020 at 22:03
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answered on Apr 10, 2020 at 22:21
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edited Sep 9, 2020 at 15:25
 
Sorry it takes a bit of time to furnish you with the CCRIS and full CTOS credit reports. Only the special attention account appears. But the other ones that becomes my concern is not on either report.

Feedbacks I received from people that I asked:
1. No need to pay as it doesn't show that I owed bank as the the account might have been written off
2. Have to settle otherwise they can take legal actions.

The people that called me threatened to come and seal off the house. They claimed that they are from the bank but they don't even have my payment details. They even said that they are with the police and wanted to over to the house. I never borrow money from money lender.

Need clarification on my situation. Any other info that I should share?
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answered on Apr 11, 2020 at 23:10
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edited Sep 9, 2020 at 15:32
 
@Basha,

Personal View/Interpretation:

1. As indicated in the CTOS credit report, it is not a credit card but "other term loan financing".
One possible other situation could arise. That bank could have been taken over by another bank. That could be why it no longer exist in CCRIS.

2. account might have been written off
Very true, it has to be "written off" as bad debts in BNM CCRIS records /reports. But is still exists in the books of the Bank and still accumulating interests..!!

3. Have to settle otherwise they can take legal actions
Yes they can, provided it does not exceed the Limitation Period of 6 years from date of default payments, to initiate a debt recovery legal lawsuit. Any legal action can be set aside by the application of the 6 years Limitation for debts recovery.

4. The people that called me threatened to come and seal off the house.
No money how to pay? First of all, they have to sue you in a court of law to make you a Judgement Debtor  (JD), then apply apply for a WSS (Writ of Seizure and Sale) to seize your tangible assets under your name (including motor vehicles). The Judgement Creditor cannot "seal off" the house you are residing in now as though as it is a confirmed case of covid-19 flash point or seal off as a crime scene.

5. They claimed that they are from the bank but they don't even have my payment details.
How to have payments records when you have not been paying for the past "how many years?" Has the "bank" been sending you monthly statements?

6. They even said that they are with the police and wanted to come over to the house.
Put their horse come but with a court order please. Your CTOS says that there is no legal lawsuit for the past 24 months. Police do not campur tangan into civil cases.

You have to read thru the past 5 years under this Bankruptcy Section to understand your position better. Now is Lockdown. If not working... read, read, read for knowledge.

(Caveat : The above comments 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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