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Any sample letter to write to bank on settlement of debts (loan)?

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asked on Jan 5, 2011 at 19:10
by   BlurBlur
edited on Mar 28, 2016 at 20:05
 
Hi there, I would like to seek advice or help from the member here.

I have called up my Official Assignee (OA) in Jabatan Insolvensi Malaysia (JIM KL) (as you guys know, is fxxking hard to get to the Person in Charge (PIC). Even general line also no body bother to answer).

I have to write in e-mail only the OA (2nd OA handle my case) called me up.

I am trying to get info on how to settle the loan debts (Owing RM40K), and I hope can get a discount as much as possible.

So I thought Official Assignee (OA) will be the right person to negotiate with the bank. But when I talked to her, she asked me go to approach the bank and negotiate with them. When the bank comes out with a figure and we mutually agree then only the bank will write in a letter to Jabatan Insolvensi Malaysia (JIM). Is this how it goes?

Anyone can help me with the letter to settle debts and of because the appeal letter later on to further mark down the debts.

I wonder if Public Finance Bhd is around since this loan was from them since 10 years ago.
Thanks and regards.
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answered on Jan 12, 2011 at 16:55
by   BlurBlur
edited Mar 28, 2016 at 20:31
 
Thanks pening. Hope I can settle this as soon as possible.

Will keep you updated...hopefully everything will go on smoothly....

Pening..thanks for dropping in to this forum..hope you will log in here once in a while to share your story with others. Really appreciate it.
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answered on Jan 13, 2011 at 01:56
by   Pening
No problem. I'm happy to help all of you. Wish you all the best
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answered on Feb 18, 2011 at 21:32
by   BlurBlur
edited Mar 28, 2016 at 20:34
 
Pening,

I have received a reply from the Bank. They refused to accept the settle amount I proposed. When I asked him how much they are willing to let me settle, he said at least 80% (excluding the amount I have paid) of the amount I owed.

According to them, they have checked with JIM, I have paid up to RM9K+ (roughly 20%) untill December 2010. I was like WTF..... I have paid 20% and now he was asking me for 80%...meaning I need to fully settle everything without any discount given. Really feel dissappointed and upset on this..... I dunno whether I should write in again or not... or just continue paying what I have been paying all this while.
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answered on Mar 2, 2011 at 03:04
by   Pening
Hi,

Don't give up. Just give another amount to them until you think is reasonable to you. Bankruptcy matters is always like that but please don't give up.
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answered on Mar 2, 2011 at 03:06
by   Pening
edited Mar 28, 2016 at 20:35
 
You can try use Bank Negara Malaysia (BNM) to negotiate with the bank. Try your luck, sometime they will help.
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answered on Mar 15, 2011 at 19:29
by   Anonymous
edited Mar 28, 2016 at 20:38
 
How JIM calculate their charges actually? Bank reduced my loan to RM13K. When I called JIM and asked for total settlement payment, they said I have to pay RM18K++. Ask why the charges are so high. They give me the formula as:

Loan + 5% + RM3730 + 7%.

Soooo...pening, JIM charges a lot. Mr. Pening or anyone, can I request JIM to reduce their charges or not?
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answered on Apr 27, 2011 at 00:11
by   krissy
edited Mar 28, 2016 at 20:54
 
Hi pening,

I need your advice, now I am owing a bank RM12000, but they gave my offer letter only pay RM1200 as settlement and I am happy but unfortunately, this house is a shared name of my ex-husband. Now my ex-husband does not want to settle and he asked bank to call me. Now I told them I am appealing to pay half of RM1200 and please look for my ex-husband, he is leaving me alone to face all kind of issue. I am not even paid any maintenance fee, I told the bank. I really have financial problem. I also told the bank that it is not me that do not want to settle on at the early state. Now the bank says that if they do not approve then I have to add the sum until they agree.

But before that, they asked me to write my finance list.

How much salary I earn and all loans I own, and money I spend and bla bla..

Should I let they know?

Should I list out?

My bank is UOB BANK.

I know maybe is too much to asked the question is only PAY. The total settle amount is only RM1200. But I don't agree because before that I have already spent a lot on this house, now I need to pay again.

My ex-husband don't want to settle, not me. I just want them to discharge my name. I don't care about my ex.

Please help. I appealed is because I don't want to wait until the figure increases, that time, maybe I have no money to pay it. It will be even worst.

Thanks is advance!
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answered on Apr 29, 2011 at 01:43
by   Pening
edited Mar 28, 2016 at 20:55
 
Hi Krissy,

You get offer RM1200 out of RM12000? It is really good offer. If your ex don't want to pay, don't bother him. This is your life. I think you should take this offer before you debt will grow until the amount that you can't effort to pay. My debt only started with RM5000 but after 8 years it was RM26,000 and only after 10 years I was struggling to discharged myself from bankruptcy.
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answered on May 12, 2011 at 01:49
by   krissy
edited Mar 28, 2016 at 21:00
 
Hi pening

I am happy to get your reply.

Thanks for the advice. Now the bank called me, and given me advice. He asked me to write a letter to split the RM1200 into 2, that means RM600.00 for each person, because I told them, my ex-husband has divorced me, he is not with me anymore. Now I apply to pay RM600.00 as they advised and they agreed. Now I am waiting the clerance of the banked-in cheque. I am still waiting their news. I called and they say they will discharge my name once money is in.

I have another question regarding Bank Negara Malaysia (BNM), once the bank discharged my name from the bank account, will Bank Negara Malaysia also discharge my name from their blacklist?

thanks pening
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answered on May 16, 2011 at 02:37
by   Pening
Hi,

First things what your status in bank negara? Bankruptcy or blacklisted?. Both of the status also got to chase your bank to submit to bank negara after payment done. Like my case my name still bankcruptcy at bank negara up to 2/5/11 eventhough I'm already discharged on 4/1/11. I have submit the complaint of status to bank negara and they will give me answer tomorow. (within 2 weeks) Anyhow when we make payment, please chase the bank.
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