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Bank credit card debt sold to private company and they want to sue me in bankruptcy?

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asked on Jan 6, 2021 at 19:48
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edited on Apr 16, 2022 at 03:33
 
I used the credit card from SCB up the limit RM50k for my business in 2002 and I couldn’t pay back at all due to the economic crisis and I was jobless. 

There is no bankruptcy notice or any notifications from any party.

But recent, I found out that my debt was sold to the private company and they are chasing me for payment for RM400k. However, they were unable to reach me. They said to my family member that they will take case to the court for bankruptcy. What should I do? 

Are they scaring me and my family members? It is already past 18 years. Thanks if anyone can advise me.
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9 Answers

answered on Jan 7, 2021 at 00:28
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edited Apr 16, 2022 at 03:34
 
@boazkk,

There is no bankruptcy notice or any notifications from any party.
Did you update your address with SCB since you defaulted and when was the last payment to SCB?

I found out that my debt was sold for 400K
This should have been sold via a Vesting Order.
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answered on Jan 7, 2021 at 04:27
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edited Apr 16, 2022 at 03:36
 
Thank you Jeff for your response.

I didn’t update my address with SCB, but they follow my MyKad address, which is where my parent’s stay. My last payment was in 2002.

Yes, I saw your articles that the SCB sold it to Aigon. However, they couldn’t reach me till today and I also checked that I am still clean with no records with the Insolvency Department and CTOS.
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answered on Jan 7, 2021 at 10:27
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edited Apr 16, 2022 at 03:58
 
Hi @boazkk,

When was the last time they visited your parents' house? Did they pass any documents or letter to your parents? This the only bad debt you have?
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answered on Jan 7, 2021 at 11:09
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edited Apr 16, 2022 at 04:00
 
I never visited my parents home for very long time and I used to meet my dad outside. He likes his own privacy. My parent rejected the documents and told them that he doesn't know me. Only this one is chasing me.
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answered on Jan 7, 2021 at 14:08
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edited Apr 16, 2022 at 04:01
 
@boazkk

The following posts is related and interacts with each other
Read them carefully paying attention to (1) and (5).
It may hold the key answers to your this Query.

1.  https://www.lawyerment.com/answers/questions/13840/what-is-a-vesting-order-obtained-by-aigon-can-i-make-a-negotiated-settlement
2. https://www.lawyerment.com/answers/questions/13790/settlement-to-a-14-years-dept
3. https://www.lawyerment.com/answers/questions/13897/debts-collector-aiqon
4. https://www.lawyerment.com/answers/questions/13896/issues-with-debt-collectors
5. https://www.lawyerment.com/answers/questions/13892/how-to-know-you-are-judgement-debtor

It should be read as a whole Topic in order to understand the contents written within.
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answered on Jan 7, 2021 at 14:16
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edited Apr 16, 2022 at 04:08
 
@boazkk,

However, they couldn’t reach me. They said to my family member
They have already found you and have reached you via your address in your MyKad. Have you updated your IC to a current address?

I saw your articles that the SCB sold it to Aigon.
Please read it over and over again. I do not recall that I had ever issued such a statement. Do not over read. If you over read and say things that it is not provable, in say, bankruptcy court, your case is gone.

Currently, within these 20 months, I'm usually careful about quoting the "words" of others because of this statement issued by several government agencies "Quote"

"Kami ingin menasihatkan semua pelanggan dan orang awam untuk berhenti menyebarkan berita palsu atau yang tidak disahkan pada platform sosial/sosial messenger sosial kerana ia adalah kesalahan yang boleh dihukum di bawah Seksyen 233 Akta Komunikasi dan Multimedia 1998 dan jika didapati bersalah, bertanggungjawab untuk denda tidak melebihi RM50,000, atau penjara tidak melebihi satu tahun, atau kedua-duanya, dan juga boleh dikenakan denda tambahan sebanyak RM1,000 untuk setiap hari di mana kesalahan itu diteruskan selepas sabitan".
Are they scaring me and my family members?
Yes they are and have succeeded, otherwise you would not come into this website.

they will take case to the court for bankruptcy.
The threat can be real, subject to certain conditions as have been discussed in the above 5 Thread posts 1-5.
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answered on Jan 7, 2021 at 14:36
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edited Apr 16, 2022 at 04:11
 
@boazkk,

If you want a complete assessment of your issue (from me), I need further information with regards to the following:

1. Age, sex and marital status. Ages and number of children (if any).

2. Type of employment currently and income status.. (permanent/temporary/self) or living as "homeless".

3. Any assets under your name (even joint) and/or inheritances.

There is no bankruptcy notice or any notifications from any party.
It is likely that they have sent it to your parents house and they have denied that you stay there or even as being related to you.

Your debts issues coincides with mine around that era. I cannot imagine SCB would not file a lawsuit on you when your credit is RM50K, well above the threshold limit of RM30K for bankruptcy, at that point of time. When SCB file for Judgement debt, is the critical point of interest (for your case). I had mine made (by International Bank) just 5 months before the end of the 6 years period.

So.. go to the nearest court house to find out whether you have been made a Judgement Debtor before and date. Not CTOS, because your address is linked to your parents house and your original debt default address. This will just link back to you eventually.

Court records, BNM CCRIS, EPF, SOCSO, JPJ, banks have secure servers which cannot easily allows breach of data by hackers. Private companies servers (even data stored remotely) can be easily hacked like telcos, utilities companies, direct selling companies, records of political agencies, etc etc...
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answered on Jan 20, 2021 at 20:02
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edited Apr 16, 2022 at 04:13
 
Thank you Jeff and sorry for delay in replying.

Below are the answers:

1. Age, sex and marital status. Ages and number of children (if any).  
Age 44, married with no children.

2. Type of employment currently and income status.. (permanent/temporary/self) or living as "homeless".
Unemployed for long time.

3. Any assets under your name (even joint) and/or inheritances. 
No assets at all.

I don't have any private companies accounts (utilities, political and etc).
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answered on Mar 10, 2021 at 22:32
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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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