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Settlement of a 14 year-old bank debt

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asked on Jul 4, 2020 at 21:12
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edited on Jun 5, 2021 at 21:48
 
I received a call from Aiqon company claimed that Ambank had sold off my credit card debt of 14 years to them. There was no communication between the bank & me for 14 years. The amount owed as I remembered was around RM2k & the card limit was around RM3k. Now they are asking for RM50K. I really just want to settle the amount & move on, so I negotiated with them to come up a reasonable amount. I am jobless right now & since end of last year. I would like to know what is the lowest amount I should be paying to settle off the debt & how I can negotiate with these people? How does the Limitations Act apply in my case?
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answered on Jul 20, 2020 at 03:17
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edited Jun 9, 2021 at 01:53
 
@jeff005

Come back to this forum when negotiations is in the pipeline.
Thank you so much for your feedback & guidance throughout these very difficult few weeks. 
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answered on Aug 1, 2020 at 21:09
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edited Jun 9, 2021 at 01:53
 
@Helpmeplease,

Briefly, the following material facts are not available to support the allegation that you have been made a bankrupt:

1. The bankruptcy notice
2. The judgement from either Majistrate / Session Court
3  The Creditor's Petition
4. The Bankruptcy Order / AORO

Without the above documentary evidence, it is beyond my imagination to conclude that you are already a bankrupt. It is most likely to be the debt collector's tactic to revive (hidup balik) the limitation period.
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answered on Aug 2, 2020 at 16:16
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edited Jun 9, 2021 at 01:53
 
@harapan besar

Thank you for your practical advice on debt litigation by debt collectors using empty threats to intimate poor victims with proper explanations.

This forum needs more of senior forumers, like you, contributing positively.

Cheers...
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answered on Aug 4, 2020 at 10:57
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@harapan besar

With my current situation, it is best to prepare for the worst. No job, no money to pay, the only choice is to prepare for the worst. 
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answered on Aug 4, 2020 at 16:55
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edited Jun 9, 2021 at 01:53
 
@Helpmeplease,

Be prepared to defeat the worst when it comes. But, most likely, the worst would not come. So, MOVE ON!
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answered on Dec 23, 2020 at 13:52
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edited Jun 9, 2021 at 01:53
 
@Helpmeplease,

Any update on dealing with Aiqon? We all need to gather more information and see how to help others in dark.
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answered on Dec 28, 2020 at 00:09
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edited Jun 9, 2021 at 01:54
 
Masa Christmas, memang ada someone dari 'Aiqon' call bagitahu saya ada hutang. Tapi saya pasti hutang ini dah settle semua. Dia marah-marah dan paksa juga bayar.

Oh, rupanya lately macam ramai dapat call dari company ini. Sama juga dia bagitahu bank jual akaun saya ni. Tapi sebab dia tengking-tengking, so saya just hang up.
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answered on Mar 10, 2021 at 22:26
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edited Jun 9, 2021 at 01:54
 
There is an update for this thread here:

https://www.lawyerment.com/answers/questions/13840/what-is-a-vesting-order-obtained-by-aigon-can-i-make-a-negotiated-settlement?g=4#tab-top

Must read from page 1-4 to understand the whole episode.
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answered on Apr 21, 2021 at 23:43
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edited Jun 9, 2021 at 01:54
 
@Helpmeplease

If you are still in this thread, do read the following threads that you can find solutions to your 14 years old debt.

How to Deal with Debts Collectors like Aiqon.

https://www.lawyerment.com/answers/questions/13840/what-is-a-vesting-order-obtained-by-aiqon-can-i-make-a-negotiated-settlement

https://www.lawyerment.com/answers/questions/13937/dikejar-debt-collector-untuk-tuntutan-hutang-bagi-pinjaman-pada-tahun-2006-2007

https://www.lawyerment.com/answers/questions/13975/what-is-a-vesting-order-on-sale-of-npl-debts-perintah-letak-hak-how-to-deal
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