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Bankruptcy and PTPTN Debt

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asked on Aug 22, 2020 at 20:21
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edited on May 17, 2021 at 20:42
 
I'm new here. I have been adjudged a bankrupt from 2016.

If not mistaken, when a person has been adjudged a bankrupt all debts are no longer being checked in CCRIS and CTOS, it will enter in special attention side.

But, I'm curious, because when I checked the latest CCRIS statement, Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN) is still there collecting info, and by the looks of it, I'm getting 17, 17, 17 in the months.

It's not that I do not want to pay PTPTN, I did try. But the money was given back to Department of Insolvency. How do I solve this?

P.S. I have gone to PTPTN HQ in Kuala Lumpur, but still the issue cannot be resolved. Please help what should I do?
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4 Answers

answered on Aug 22, 2020 at 21:19
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edited May 17, 2021 at 20:53
 
@Lookingforanswer2020

1. In Bank Negara Malaysia CCRIS, at least one of the creditors would have updated your status as bankrupt or under bankryptcy proceedings.

2. In CTOS, you would be updated as a bankrupt (if their workers has updated their records properly).

3. What does the 17,17, 17 represents? Read the notes properly.

4. PTPTN is a government loan, it will have to be repaid even after a discharged from bankruptcy down the road (same as personal tax owing).

5. In the event if you find work overseas, you have been blacklisted from going overseas by both Jabatan Insolvensi Malaysia (MdI) and PTPTN, you have to get clearance from the two entities.

But the money was given back to insolvency.
Do not understand, what do you mean "was given back"?
How much has been repaid? Full settlement?

Have you reported in to MdI yet?
If YES, was the PTPTN loan listed in the S.O.A. (Statement Of Accounts) submitted to MdI under the section "creditors"?

but still the issue cannot be resolved.
Even if PTPTN cannot resolve the issue, how to resolve when the issue could have been created by yourself? Either you have not reported in to MdI yet or PTPTN was not listed as a Proof of Debt creditor. Why didn't you check with your Pegawai Insolvensi (OA)? Too embarrassed?
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answered on Aug 22, 2020 at 23:57
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edited May 17, 2021 at 21:16
 
@Lookingforanswer2020

Additional Information

Once an individual is adjudged a bankrupt by the High Court,  notifications will be send to Malaysia Department of Insolvency which will in turn notify Bank Negara Malaysia and Malaysia Immigration for further actions to be taken.

1.Bank Negara Malaysia will freeze all banking accounts and then seize them (all moneys inside), to be remitted to Department of Insolvency under the bankrupt's estate. The bankrupt status will be reflected in the CCRIS.

2.  Immigration will bar any overseas travels.

But the money was given back to insolvency.
Are you saying that you did continue with the PTPTN monthly installments even after being made a bankrupt? But upon receiving your payments, PTPTN remit it to Department of Insolvency? If it is, then it is the correct procedure undertaken by PTPTN.

Under bankruptcy law, a bankrupt cannot make any payments to any creditors. There is no such thingy as "favorite creditor". Any authorized payments to any Proof of Debt creditors must go thru MdI from the bankrupt's estate managed by MdI.

Please help what should I do
There is nothing much you can do. Just continue the 5 years case management and remit promptly the monthly agreed contributions.

You should be receiving annual statements from MdI and PTPTN which is proof of your payments.

Why are you so concerned with the 17,17,17 in CCRIS? No worries, it is not the mark of the devil but of the beast. As far as things are concerned, your credit rating in CCRIS and CTOS is zero. You can only rebuilt it from scratch upon a successful discharge from bankruptcy.
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answered on Aug 29, 2020 at 20:20
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edited May 17, 2021 at 21:18
 
I am concerned with PTPTN sebab kos pentadbiran meningkat.

I thought after bankrupt, no loan could charge any more interest but it seems PTPTN, the "interest"charge or so the kos pentadbiran every month bertambah.
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answered on Aug 29, 2020 at 23:30
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edited May 17, 2021 at 21:41
 
@Lookingforanswer2020

I thought after bankrupt, no loan could charge any more interest.
In certain situations, interests can be charged on certain Proof of Debts. This is due to the interests element stated in the Judgement Debt.

Interest can continue to be charged accordingly to a maximum of 6 years (Limitation Act) plus a reduction of interest rate to "per annum (flat rate)" upon adjudged as a Bankrupt.

Read here for detailed explanation.

https://www.lawyerment.com/library/kb/Insolvency/Bankruptcy/1596.htm

Topic :  
Can interest be charged on debts of a bankrupt? Will interest on debts be written off in bankruptcy?

PTPTN Study Loan
This is a Government Loan. You should have a copy of the latest PTPTN statement. To properly answer your question.. I need to study a statement. Can you email it to me?

or..

You can post it here in this page.

or.. (if you want privacy)

You can email to my Author's Profile in this website

https://www.lawyerment.com/library/kb/authors/10
(under send message)

kos pentadbiran
Did you know that for every monthly payment contribution to Malaysia Department of Insolvency (MdI), a kos pentadbiran is charged by MdI? Except that this kos is paid for the the Proof of Debt creditors. So, it is normal for PTPTN to charge you "Administrative Costs". Nothing illegal nor breaking bankruptcy laws.

(Caveat: The above article/comment is written by a Q&A registered User. It represents a personal point of view and is in no way associated with others in this forum nor be regarded as legal advice)
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