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need advise, am i already bankrupt?

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asked on Feb 27, 2013 at 18:07
by   shasha
good day to you all,
i have a problem which need advise. recently i check my CTOS report and found out that there is bankruptcy notice issue to me dated 26/04/11. i did not receive any notice post to me probably because i did not leave with my parents anymore. last time i have a car and due to some problem i not able to pay causing the car to be auction in year 2010. i have receive summon on that on year 2009 but receive it late because the letter reach my hometown.
the question is now, am i already bankrupt? do i need to see JIM? or do i need to go bank to bank which issue the bankruptcy notice and negotiate the payable amount? i have a good job now, dont want to loose it just because of this. if i have to pay, then i will pay, provided that the monthly pay is within my limit. thank you.
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answered on Feb 27, 2013 at 21:38
by   anand0412
Dear Shasha,

You are not a bankrupt. But that does not mean you don't have to worry. A Bankruptcy Notice is the beginning of the bankruptcy proceedings. In the ordinary course of events, the Petition for bankruptcy will be served on you within 6 months. Otherwise, there will be no act of bankruptcy. In simple terms, you can ignore the bankruptcy notice if no petition is filed against you.

Please be informed that Bankruptcy Notice or Petition can be served on you by way of substituted service, i.e. through newspaper advertisement.

You can always do a bankruptcy search on with the JIM on yourself to make sure.

I suggest that you go and see the bank and discuss with them. It is always better to settle all outstanding and have peace of mind. Try to negotiate a repayment.

Here is another way. Try applying for a personal loan / credit card. The bank will let you know what you need to know.
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answered on Feb 27, 2013 at 23:34
by   zizong
bro - just check the immigration website in 2 minutes all u need to check your identity card on the blacklist

http://sspi2.imi.gov.my/

if it says this then you are a bankrupt
Keputusan semakan:
Sila rujuk ke pejabat Imigresen terdekat
Status: Sah pada waktu dan tarikh semakan dibuat

if it says this then you are still not a bankrupt at the moment
Keputusan semakan:
Tiada halangan
Status: Sah pada waktu dan tarikh semakan dibuat.
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answered on Mar 1, 2013 at 13:53
by   shasha101
already check thru the web no restriction to travel abroad,also check at jim,status not bankrupt.i went to the nearest bank branch,they ask me to go to hq kl which manage my account.but they told me that only can reduce the interest,i hv to pay 35k++ full settlement which i dont hv.the notice already serve thru newspaper on april 2011,its already a year plus,how long it take to make me bankrupt?
i work in private sector,which bank can give loan to blacklisted? pls advice.should i go to the bank hq kl or akpk? the officer told me to seek akpk advise.
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answered on Mar 1, 2013 at 14:54
by   shasha101
i hv a small pc of land where my parents reside,if i were bankrupt would they seize the land? should i transfer the land to someone else?
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answered on Mar 1, 2013 at 21:47
by   Hoping and Waiting
Yes very high chance, so you are supposed to transfer the land to a friendly party or someone you can trust 2 years before being adjudicated as a bankrupt. After you transfer, you need to prolong your bankrupcy trial with a decent lawyer for 2 years or so, only then MDi will not touch on your piece of land.
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answered on Mar 2, 2013 at 02:50
by   zizong
if so pls take out as much cash as posiible form the banking system - becos suddenly your account might get FROZEN and then u really will have a lot of headache and if u have car and other properties consider transferring to your family members if u want to even more safe
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answered on Mar 4, 2013 at 13:51
by   shasha101
i dont own a car anymore,that car already taken back by the bank n auction n left me with 40k++ in debt.i dont hv money to engage a lawyer.dont want to go bankrupt.should i seek akpk help? i hv no choice.should i sell off the land n pay off the debt? my bro in law ask me to surrender to magistrate i dont know..he said something of asking for low repayment which i cannot afford to pay in lum sum..i dont know..really feel confused n lost..
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answered on Mar 5, 2013 at 04:49
by   guarantor
L would like to share something here. I remember just before I was charged,I sold 2 properties. I was prepared to answer JIM that I sold to someone I don't know and he took loan for the properties. If JIM wants to take back the propeties(which were still on loan) what do they achieved? 'LOANS'? Can anybody here (lawyers too)quote cases where properties under 2 yrs were confisticated? I m yet to here any,so far all escape.
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answered on Mar 5, 2013 at 23:13
by   zizong
bro dont ask and dont tell about your properties especially those already sold - just take out as much money out and transfer vehicles asap
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answered on Mar 8, 2013 at 15:08
by   shasha101
then it is safe to transfer the land title to family members? i dont receive the brankruptcy notice,how to get a copy from the bank? i went to the branch bank they ask to go to hq kl,any other way to retrieve it? i tot of asking MATE help,anyone know abt this malaysian arbitral tribunal establishment?
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