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 May 17, 2011 at 01:35
by   Pening
Hi all,

Today I'm fully discharged from bankruptcy. Call bank negara today and they already updated my name, it is clear now... fuhhh
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answered on May 25, 2011 at 17:39
by   krissy
edited Mar 28, 2016 at 21:08

First, congratulation. You are finally out of trouble and secondly I have a question.

Now that I've already made a payment to bank, and they already sent me a clearance letter to discharge my name from the bank, but the bank official told me, even they discharge my name from there I will still be under option blacklisted. If I want to clear my name from Bank Negara Negara, at least the another party has to make a payment also.

I appeal the bank to only pay my part, meaning only discharge my name but the official told me because my ex doesn't want to pay, my name still there in the blacklisted option.

He says that when I want to get loan or what ever, I can show the letter from the bank, meaning the letter from bank to discharge my name. He further told me that it has nothing related with Bank Negara Malaysia.

So should I show letter to Bank Negara Malaysia?

If I have money in my account, they will ask me to pay or sue me bankruptcy?

I am so worried.
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answered on May 28, 2011 at 01:33
by   Pening

In the case of joined loan, I have no idea but no harm for you to ask bank negara either they can clear your name. Just try. Go to bank negara, take a statemnt from ctos kiosk. (put your ic and thumb on top of screen and you can print statement. After that you can show your statement to bank negara officer and ask them what to do. (Don't worry, they got very free time to entertain you but very helpful). Bring the letter of discharged from bank too.

Good luck.
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answered on Jun 2, 2011 at 20:27
by   BlurBlur
edited Mar 28, 2016 at 21:10
You can try use Bank Negara Malaysia to negotiate with the bank. Try your luck, sometime they will help.
How do you use BNM to negotiate? Meaning ask help from Bank Negara and they will help you to negotiate with the bank? Seriously? How does this work?
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answered on Oct 10, 2011 at 15:18
by   Dina
edited Mar 28, 2016 at 21:12
For your information:

My car was stolen in 2008 by salesman. I have cancelled all insurance policy and can't claim for it. Now, I'm stuck with loan about RM13K (no:RM16K). Please help me on how much can I ask bank to reduce in order to pay all the loan as I have RM8000 in my hand now.

Help me! Thanks in advance.
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answered on Mar 21, 2012 at 23:01
by   wendy
AM's lawyer sms me - they wanna send someone to seal my house but my debts is RM8k plus. I told d lawyer to reduce the debts to RM3k and i will settle full settlement. But tat 'pariang' lawyer said i cannot bargain with lawyer and I don't have the right to bincang the reduce settlement with lawyer. Told them i need to paid AM Bank monthly RM300 for credit card and I can't afford to pay so much as I am single mum. The lawyer is not helping but demanding me to pay and if i pay monthly - I hve to paid until monthly until the total sum RM8k.  What i can't understand is - we want to settle the debt but why the bank & their lawyer prefer people to hve their debt rather than settle it.
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answered on Mar 21, 2012 at 23:42
by   Boleh
edited Mar 28, 2016 at 21:14

Bank lawyers DO NOT call to collect debt, that person who called you is a debt collector PRETENDING to be a lawyer. Yes, that jerk off lied to you. A lawyer would first send you a Letter Of Demand, then a summons if your debt is high enough, at RM8,000+, there is NO way they can bankrupt you in 6 years, so relax girl! When those liar debt collectors call again, do this:

1. Ask for that low life's name and name of his "law firm".

2. Quite likely, he won't give you his name, if he doesn't hang up. If he does, tell him it is UNLAWFUL to impersonate an officer of the court by calling himself a lawyer when he is clearly not, and if he calls again, you will make a police report against him and his company.

The best thing to do is, use your caller ID, if you are not sure who is calling, don't answer. Search this forum, find out why it is very UNlikely these lying coward debt collectors will lelong your stuff, they may come to your office or house to threaten they will - but they won't.

Banks are like robots, once you don't pay them after a few months, they either get their lawyers to send you letters or they "sell" your debt to a 3rd party, debt collectors. Debt collectors' job is to make your life as miserable as possible so you will want to get rid of them by paying up. That's their plan. The thing to know is, if you don't pay off in full, the bank can still sue you once day. So no point paying unless you can afford to settle in full.

Hope the above helps. Good luck.
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answered on Apr 18, 2012 at 16:55
by   Dimbi
edited Mar 28, 2016 at 21:21

Hope you can guide me.

I have credit card debt with EON (now Hong Leong) RM11K. The credit limit was RM3k and now the interest accumulated to RM11K. My last payment for this card was in 2007. Now the bank's agent (debt collector) contacted and asked me to pay the outstanding. I requested to them wave the interest and willing to pay RM4K in single payment. The agent replied after negotiating with his boss and offered RM6.7K. I refused and stand with my proposal of RM4K.

Should I accept the bank offer or stand with my proposal? or can I direct deal with the bank by appealing to them? Please advice.
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answered on Apr 25, 2012 at 02:00
by   Pening
Hi Dimbi,

You can try contact direct to bank. The Agent will try to get as much as they can coz they can have higher commision on debt collected.

Good Luck.
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answered on Jul 13, 2012 at 19:26
by   mieana
edited Mar 28, 2016 at 21:25
Hi all,

In early June someone called my husband to settle credit card debt (charge card) which were outstanding for 10 years but less than RM10k (the amount just started from RM1500 negotiated with bank so many time but no solution). He said from lawyer firm and urged my husband to pay in full by the next day if not all my husband properties (if any) will be seized and bank account will be frozen and cannot go to work anymore.

The amount owed cannot negotiable. If my husband agreed to pay then he will give all the bank's details to bank in the money. We argued why so short of time and he said before this he cannot find my address to send the legal letter but now can call? I took the phone from my husband and started to talk with the lawyer (konon nyer!) but he said cannot talk to 3rd party and threatened if no payment by tomorrow he will executed what he said before (who the hell he think he is) and hang up the phone.

After that I sent an SMS to him that I will make police report and he said go on but after that no more phone call or SMS from him. Same like what has happened to Wendy and being told by Boleh. FYI, the main card (line of credit - AmBank) already settled in full RM20,000++ now left the charge card amount (MBf) before this they were one bank when split our debt also split.
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