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Tempoh masa utk bankrup

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asked on Oct 14, 2021 at 14:05
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Salam... pd 2016 sy ada menbuat pinjaman peribadi dgn Bank Rakyat sebanyk RM80K dan pembayaran seperti biasa tanpa sebarang masaalah. pd pertengahan 2019 sy m'ngalami masaalah kewangan dan tidak mampu utk membuat bayaran bulanan sehingga skrg. semlm sy menerima 1 panggilan telefon menyatakan dr Bank Rakyat dan memaklumkn sy mempunyai baki tertunggak sebanyak RM24K yg perlu di bayar dgn kadar segera @ tindakkn bankrup akan di teruskn

bermula januari 2020 sehingga sekarang sy tidak pernah menerima apa2 panggilan @ surat dr bank rakyat,boleh sy tahu berapa lama proses utk bankrupkn sy? adakah dr tarikh sy tidak membayar ansuran @ dr tarikh terima panggilan @ tarikh terima surat dr bank rakyat (tidak terima surat)
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answered on Oct 15, 2021 at 23:36
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edited Oct 15, 2021 at 23:41
by   jeff005
@ yeop80

The premise of Query is that " how long from now it would take for me to be bankrupted.. am i correct?

This case facts :

1. Bank Personal Loan (80K) in 2016. No further repayment since mid 2019 until Oct 2021.  

2. "baki tertunggak sebanyak RM24K".  This amount is "in-arrears defaults" and is not representative of the "outstanding amount /total debt".

3. bermula januari 2020 sehingga sekarang sy tidak pernah menerima apa2 panggilan @ surat dr bank rakyat
The main legal concerns is that the address you are living now, is it the same as the address in the BR records?.

4.  The Moratorium Bankruptcy threshold period until Aug 2022 is 100K and whether after the period is over, will it be reverted back to 50 K is still uncertain.

Standard Procedures before SARS-Cov-2 Pandemic Lawsuits :

The bank have to file a lawsuit and make a defaulter as a Judgement Debtor first and subsequently a bankrupt once it is over 50K. Depending on the internal policies of the bank on the debt amount and how fast the bank lawyers works, it normally takes 8-15 months for the total work process of being adjudicated as a bankrupt, based on date of the awarded Judgment Debt.

During this Pandemic, the court process is much slower, however, now that interdistrict and interstate travels have been lifted, things may speed up.

There is inadequate info from your part, hence no further comments.

Did you managed to get any letters from BR lawyers on any lawsuits? If you are still uncomfortable, go to any major court and perform a "file carian" using your MyKad to see if BR have a lawsuit on you now or before.
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answered on Oct 20, 2021 at 16:31
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Hi jeff005

thanks for your response, below is my update for your inquiry

1. Bank Personal Loan (80K) in 2016. No further repayment since mid 2019 until Oct 2021. - Yes correct, no payment been made from mid 2019 until today

3. bermula januari 2020 sehingga sekarang sy tidak pernah menerima apa2 panggilan @ surat dr bank rakyat
The main legal concerns is that the address you are living now, is it the same as the address in the BR records?. - already move to new address and already update the new address at USJ Bank Rakyat place that i submit my loan

4.  The Moratorium Bankruptcy threshold period until Aug 2022 is 100K and whether after the period is over, will it be reverted back to 50 K is still uncertain. - on Dec 2019 i check my loan statement and balance show 100K+ mean can proceed to Bankruptcy if no payment been made, right?

5.  The bank have to file a lawsuit and make a defaulter as a Judgement Debtor first and subsequently a bankrupt once it is over 50K. - This JD start from date i not do the re-payment or others date?

6.  Did you managed to get any letters from BR lawyers on any lawsuits? - last letter i receive from them only reminder to make payment (last year), after that no more letter i receive

7.  ADD ON, last year i manage to join AKPK DMP but manage to pay for 3mth only because i cannot manage to pay the amount, latest i check in AKPK portal i only can re-apply back after 10th Dec 2021. it's same for me to re-join again the programmer because i don't have RM24K to clear the outstanding and just realize 2 number that i receive call from "bank rakyat" actually is DCA for bank rakyat, can i ignore the call OR just call bank rakyat to "buy time"?

03-78901237
03-78901218
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answered on Oct 20, 2021 at 16:51
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Hi jeff005

i just check my last year CTOS report got show "JUDGEMENT IN DEFAULT 120620" and based on Case number got 3 hearing date on 07 April 2020 , 30 April 2020 and last date on 15 Jun 2020 (e-review). mean my bankruptcy process already start,right?
 
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answered on Oct 21, 2021 at 18:18
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edited Oct 21, 2021 at 18:22
by   jeff005
yeop80

Case Facts:

1.  "JUDGEMENT IN DEFAULT 120620"
Means Penghakiman Ingkar (JID).

2. already update the new address at USJ Bank Rakyat place that i submit my loan 
Means that if the bank wants to start a bankruptcy proceeding on you, you will be duly informed at the address which you have updated.

The bank may not necessarily start one now but they have 12 years (6+6) from 12 June 2020 to initiate a bkcy proceeding starting with Notice of Bankruptcy by hand service to the new address.

3. re-apply back after 10th Dec 2021
Since you have failed the AKPK DMP before, subject to your current disposable income, the bank reserves the rights not to accept it a second time.
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answered on Oct 25, 2021 at 15:00
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Hi jeff005

noted and thanks for your response but i need to get more advise from you again due to DCA Bank Rakyat keep calling and asking me to pay all the outstanding RM24K OR initial payment RM12K to stop the process, can you advice how to handle them? ignore and call bank rakyat to negotiate or how?

 1- Means Penghakiman Ingkar (JID)
-it's they already start the process for bankruptcy? OR still in progress as you mention "they have 12 years (6+6) from 12 June 2020 to initiate a bkcy proceeding starting with Notice of Bankruptcy by hand service to the new address". as per my understanding, they can proceed with the bankruptcy anytime starting 12 June 2020,correct?

2- Since you have failed the AKPK DMP before, subject to your current disposable income, the bank reserves the rights not to accept it a second time
- mean i cannot do/join the AKPK DMP anymore? if YES, is there any others way to continue it because to clear RM24K outstanding is hard for me to do it.

3- i target after Chinese new year next year i can continue back for the repayment but for now i want to know what i can do to avoid been bankrupt, yes bankruptcy is not end of the live but i want to try to avoid it.
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answered on Oct 25, 2021 at 15:17
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Hi jeff005

i get below details from this forum, for my status right now i at which part/number? it's #11?

https://www.lawyerment.com/answers/questions/13267/tidak-hadir-ke-mahkamah-dan-di-jatuhkan-bankrap-apa-perlu-saya-buat?g=2#tab-top 

Dari tuntutan hingga peringkat di bankrapkan tatacara ringkas nya lebih kurang begini: 

1. Kamu berhutang dengan bank tak bayar. 
2. Atau mempunyai tunggakan hutang yang banyak.
3. Bank tidak konfiden kamu boleh bayar. 
4. Bank tamatkan perjanjian pinjaman. 
5. Bank hantar surat Tuntutan minta menuntut bayaran dalam 7 hari. 
6. Kamu buat tak tahu atau memang tidak ada duit nak buat pembayran. 

7. Selepas 7 atau 14 hari bank melaui peguam nya failkan saman di mahkamah. 
8. Bank atau melalui peguam hantar writ saman untuk ke mahkamah. 
9. Kamu tidak hadir atau tidak failkan sebarang  pembelaan.
10. Mahkamah jatuh hukum.  
11. Kamu di jatuhkan sebagai Penghutang Penghakiman dan bank sebagai Pemiutang Penghakiman.
12. Bank ingin terus mendapatkan hutangnya lalu minta peguam failkan permohonan perintah perlaksanaan. 
13. Jika hutang kamu melebihi RM50k peguam akan  failkan permohonan untuk keluarkan Notis Kebankrapan. 
14. Notis Kebankrapan perlu di serah pada kamu secara kediri. 
15 Jika tidak berjaya serah kediri mereka mohon penyampaian ganti. Iklan di akhbar. 
16, Kamu buat tak tahu dan tiada tindakan, ini di anggap kamu telah melakukan perbuatan kebankrapan. 
17. Kemudian peguam failkan Petisyen Pemiutang. 
18. Kamu buat tak tahu dan tidak hadir ke mahkamah untuk membantah atau melawan. 
19. Mahkamah buat keputusan dan jatuhkan kamu sebagai seorang Bankrap.
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answered on Oct 25, 2021 at 22:26
by  
yeop80

it's #11?
Yes  it is at this stage.
Whether the bank files or not depends on a lot of factors.

Under IA2017, it is not easy to bankrupt a debtor, it takes a lot of time plus funds. I estimate to initiate bankruptcy proceeding, the costs is around RM9-12K of which the bank have to pay their lawyers. 

If the debtor really have no moneys, then the legal costs will be added to the bankrupted amount, which is non functional to the bank. 

It depends on how much the bank legal dept knows of the debtor's personal financial situation. If the debtor have tangible assets, the bank may file to scare off the debtor to dispose off tangible assets. Example are Joint names Accts, esp Joint ASBN accts (if any), Joint names Land /Landed Property. Tangible assets values is very hard to compute.

Your "The Debt" has been declared a Judgment Debt, you the Judgement Debtor. At this time of pandemic recession, they may not initiate bkcy, they have 6 years to collect additional interests from 12th June 2020. The interests element is subject to what has been stated in the Penghakiman Ingkar (JID).
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answered on Oct 25, 2021 at 22:36
by  
yeop80

 ignore and call bank rakyat to negotiate or how?
DCs of the bank will keep on chasing you to pay something. Today 24K, tomorrow 12K. If after paying 12K, they will keep on asking for more (it's their "commissions").

To nego, you have to be able to restructure the whole amount. AKPK is the only solution  at this point of time. If in Dec, AKPK accepts you into the DMP and ALL the banks agree, it would be a new contract /agreement, not about the 24K "in-arrears".

If you are in a position to nego, always nego direct with the bank. Never.. never trust the DCs. 
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answered on Oct 25, 2021 at 22:46
by  
yeop80

but for now i want to know what i can do to avoid been bankrupt,
To avoid a nasty bkcy proceeding, you must have the financial capabilities, if not, it would be useless to nego. 

In any case in Bkcy Proceedings, a debtor can make a voluntary arrangement with the bank to avoid being bankrupted at the final stage. It all depends on your financial standing at that point of time. 

Nothing much is known of your personal financial standing. You may have assets overseas which takes time to liquidized,or even Joint Names property to dispose off to avoid bkcy.
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answered on Oct 26, 2021 at 10:15
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Hi jeff005

TQVVM for your time to answer all my inquiry and share all the info really2 appreciate it, will follow your advice and hope AKPK/Bank can give 2nd chance to me this December.

YES house that i stay right now is joint name with my wife
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