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Practical & Legal Advice: Credit Card Debts and EPF Withdrawals

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asked on Oct 23, 2014 at 18:58
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edited on Apr 7, 2022 at 23:02
 
Dear Well learned & Valued Members of this Forum,

I hope many of you will respond to my sincere and heartfelt request for practical ADVICE. 

As my nickname suggests; I'm a prisoner of our financial system and largely because of my own mistakes. Hey everyone makes mistakes. In my late 20s I took credit cards from 4 banks (each card = RM5k). When the crash of '98 happened; it was downhill from there.

I'm nearly 50 (1.5 years time); working off and on under meagre salaries and below radar.  So not much savings; for the last 2 years unemployable even in Fast Food Joints because of my age and race (not being racist but the facts are the facts). Even told OFF by employers.....aiyah you are so old give chance to the young lah.

I have no family now (all dead), never married so no support lah.  In exactly a month I will be homeless (honest to god truth) as no money to pay rent and surviving on GIANT RM2.00 bread daily (a luxury actually compared to lot of other people in the world); I could probably bum around with friends for a month or two but its not a long term solution. Seriously with the economy, survival is for the fittest and no one can afford a hanger on.

What I do have is around RM80k EPF but what I've read on your forum paints a very BLACK future for me as even this will be confiscated by the GOVERNMENT.

THIS is not a request for sympathy but I would really appreciate advice from the SCHOOL OF HARD KNOCKS.

A very painful lesson for me and I hope an eye-opener for everyone reading.

Thank you.
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answered on Oct 23, 2014 at 20:47
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What I do have is around RM80k EPF but what I've read on your forum paints a very BLACK future for me as even this will be confiscated by the GOVERNMENT.

Don't listen to rumours.
EPF is protected from creditors by law.
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answered on Oct 23, 2014 at 21:38
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Dear prisoner101,

I can totally understand your feelings. However I can confirm with comment above that your EPF is safe, providing you have been cooperating with the insolvency office. I just came back from there and they confirmed that they will issue a letter for your epf to be released to you when the time comes. So worry not about that
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answered on Oct 23, 2014 at 21:41
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edited Apr 7, 2022 at 23:14
 
Hi Prisoner101,

You are well educated. You have put out a very structured posting. Let's be friends. You can call me Jeff. What's yours?

To start off with our friendship, could you furnish me with the following details:-

1. Have you been ever been declared a BANKRUPT? If yes, are you reporting to Jabatan Insolvensi Malaysia (JIM)?

2. Are you having a bank savings account? Advising you to open a joint ac is not so practical. But is NOT impossible!!

3. Could you remember the banks which you have owe c.cards, whether they are local, foreign or finance companies?

At 48, not only you, 95% of wage earners finds reemployment, deployment, dammed hard. I have also been in the same predicament before (if you have gone thru all my postings) at 47. There are lots of permanent employment albeit the very fact WE would be paid very low. But still there would be food on the table. There some jobs which makes you work 16 hrs a day so they have to give you food plus lodging. I work around the market place as a food street hawker so i know and I can find you jobs to put food on the table. Ordinary dish washers collects around RM30 to RM35 per day. If you can cook, slightly better, 6 days week and start work 5am ends 2-3pm. Are you game.? If you have a driving licence, better jobs offer..

4. Are you male or female?
5. Where are you now, Kuala Lumpur or elsewhere? You stated that you are about to be homeless, so relocation would not be a problem.

Well, I actually wondered why you wanted PRACTICAL plus LEGAL advice. I shall level with you, the advices and sharing of experiences given under this section is 90% NOT SO LEGAL but nevertheless, very practical in some difficult situations. What the heck, we are earning a honest living, did we go and cheat, rob or snatch people handbags and things.? Have any bankrupts be jailed before?

If you believe in me, your EPF savings is still yours 80% FULL by the time you turn 55. No, I am not taking the 20%, someone will later post and then accuse me of being a vulture.!!  The 20% will probably go to JIM, to repay your creditors. That is the LEGAL way. The EPF will not be confiscated by by any government departments.

I do understand the postings under this section, especially with EPF, of the past 10 days have scared off a lot of old and new forumers. Even myself, I have hardly done any notable posts. Do I sound like a old stupid 58 bladirunner? Have you ever sit in a coffee shop where 6 out of 8 tables have knives under the table, including the table I am on? Tons of people have not seen big snakes pissed before... hahahaaaa.!!

Believe in yourself that you can find reasonable food on the table and your EPF monies are still yours, Half your battle is already won. I brought up 5 children with zero base since 2004 with zero digit in bank accounts, I may be POOR today but not DOWN and HAPPY because of a generous advice from my this forum sifu....

Jeff
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answered on Oct 24, 2014 at 18:12
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edited Apr 7, 2022 at 23:23
 
VKPC, Donowat and Jeff aka Bladirunner;

Many many many thanks for the replies. All of us realise our mistakes and if there were such a thing as time-travel; we would all go back and change a lot of things, Yes?

Dear Jeff and friends,

a. My friends (the few that I have) call me Sally.

b. My Credit card history - SCB (scariest of the lot), CITIBANK, Southern Bank, Eon Bank. I did try to make regular payments to SCB till lost my job in 2000. After that downhill right into the pit.

c. In 2012 on the advice of someone; I actually made an attempt to do the RIGHT thing....went all the way to Bank Negara to obtain my RAP sheet, went to Putrajaya and obtained a copy of my status 'not declared bankrupt'; I wanted to shout hallelujah. Went to AKPK where I was brought down to earth...very painfully I might add. They are not under obligation to help you and as I was working under the radar - no permanent job, no EPF blah blah.. I'm a security risk. REALITY check friends and young ones... AKPK is not GOD. AKPK does not protect you from Terminator wannabes, MAFIA types or Narcissistic Sociopaths that make Hitler or the Devil look tame as a lamb.

d. I did meet one ex-debt collector who told me the plain truth.....the easiest way with minimal damage to get out of this mess is to get a loan from family member....and settle the whole thing once for all. You are a statistic on a piece of paper.. your humanity ended when you defaulted on your payments. Unfortunately my one parent is adopted and the other have no contact with so no relations lah to borrow money from. Anyone reading this.. better to grovel, eat humble pie with your saudara-mara as long as they loan you the money than be in debt. My debt at that time in 1999 did not touch 20k yet but I was not street-smart,definitely clueless to finance matters and no access to info like we have now. Tried to ask friends for help...they gave me a earful then said NO and never heard from them again.

e. Why I lost my job in a multinational? Friends, I'm educated even have a full-cert from a local college but stuff happens and when it rains it pours. SCB's gungho tactics got me fired...they called up the HR department, news went to top management; hell even the security guard knew I had credit card problems. Management and HR did not fire me; no it was more subtle..life became hell...I finally had to leave as I was hospitalised. YA my skin is too thin and easily bullied.
SCB did not stop there; after I left they called up the company again and told the receptionist they had a cheque for me. Receptionist is not even my friend and only knew my address because I happen to live in the same apartment block. Oh yes folks get used to it...there are people who are just nosy.

f. If you think living in an apartment/condo with security is safe..think again. SCB's ninja patrol bought tehtarik for the entire security team at the guardhouse thus gaining much info. on me. What time I went out, how many people living in the apartment I was in, all my personal info. was shared with the security team. I went underground and when you work on part-time,'consultant' basis, you have NO security. You can be terminated at any time.

g. I lived relatively peacefully until I had no choice but to change my old IC to the great MyKAD. Still there must have been an ANGEL protecting me..the NRIC officer asked me for my phone number so I stupidly replied if she wanted my office no. She said NO very forcefully and asked me to give a hp no. A week later, during office hours I got 3 missed calls..unsuspectingly I answered the call when it rang again..lo and behold people claiming to be EON bank..I hung up. Relentless after that...finally sent me a message saying that they are coming to my house - nasib baik old address..not been there since 5 years.

Trust me..this has played havoc with my physical, emotional and mental health. Living in terror..yes terror. I stop using that number for a few months. 2013 I got sacked (politically correct word - retrenched) but since I wasn't an employee per se....you get zero lah. Found out later I was replaced by the CFO's girlfriend (1/2 my age) as she needed a job. When BR1M was introduced; I didn't apply for it...too terrified because it meant I had to give out my address, contact etc.

This year out of desperation I applied for it since the money is banked in...I have a savings account with Maybank. I got RM300 plus non-stop phone calls, SMSes from AIQON and a host of debt-collectors. I'm still receiving calls todate. Your current handphone or whatever contact number is in the system - BIG BROTHER..EPF, INCOME TAX, BANK NEGARA has access to it...GLOBALISATION at its best.

h. I know I sound bitter but friends you need a reality check. I was like many others who assumed that things would get better...just give more time. For me it did not...I live like a fugitive..I have to operate under the radar...no facebook, social media anything that can identify me. Are you aware that the Debt Collectors are internet savvy? Old methods don't work anymore; they use the internet, facebook, linked in etc. to FIND YOU. Info that you put on on loyalty cards e.g. Jusco card, Carrefour card, Mydin card are given to banks and financial institutions on the pretext of 'MARKETING Programs'? The ex-debt collector I mentioned earlier also told me that he used his relative - kak ipar or something like that's contact in EPF to obtain leads to track a person. Information available on nominee forms so if you have relatives; they are not safe ya. They will get you via your relatives.

i. I just hope my 1 cent info. opens the eyes of the many young ones...you still have a chance to get out this mess.
Don't waste it. If I've offended the scions of DEBT COLLECTORS reading this; that is not my intention. I'm only telling the truth of what happened to me. NOBODY and I repeat NOBODY wants to live like this. I'm not a murderer or a criminal perhaps if I was I would have a better life.

j. As for EPF I guess its only fair that a sum be used to repay our debts. We should all repay our debts but what happens to me or others in my situation. That is all I have.

Thank you for reading and listening.

No hope.
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answered on Oct 24, 2014 at 19:55
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What about your husband?
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answered on Oct 24, 2014 at 20:08
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Prisoner101 @ Sally,

Actually you don't have to be on the run from your creditors. Like you, I too changed jobs etc to escape creditors but it never really worked. So when I finally "surrendered" to insolvency, I didn't have to run anymore. All calls from creditors I politely answered that I am a bankrupt and for them to forward their claims to the insolvency office as I am making my monthly payment there. And you know what, the phone calls stop! Occasionally there will be one (I guess some bank forgot to check with insolvency), but I no longer fear calls from unknown numbers. I sleep better at night knowing that I am serving my time and the best thing is, u can start to see the light at the end of the tunnel! Yes it is a long and tough tunnel, but at least there is an end now.

So why don't you just let insolvency protect you from the creditors. Stop being on the run and start living.This is not to say ALL your problems will end but do something about it. I just visited my insolvency office yesterday and they told me, with regular payments you can begin to apply for discharge after 5 years. There is still hope!

Virnicia,

I think Sally mentioned that she is never married.
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answered on Oct 24, 2014 at 20:47
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edited Apr 8, 2022 at 00:04
 
So why don't you just let insolvency protect you from the creditors.
Insolvency will not deal with people who are not bankrupts.
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answered on Oct 24, 2014 at 20:59
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edited Apr 8, 2022 at 00:11
 
Sally,

You have not been made a bankrupt yet. Quick check. Go:-

........  https://sspi.imi.gov.my/sspi/

Virnica knows you never married before. She is a seasoned forumer who avoids posting under her real ID as there are complaints that there are people posting "illegal" advices here in this forum. She is "stimulating" you to write more about yourself.

Jeff
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answered on Oct 24, 2014 at 21:44
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Sally,
you wrote, "I have no family now."

Don't worry,

Jeff and others here will take you as family.
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answered on Oct 24, 2014 at 22:15
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edited Apr 8, 2022 at 00:18
 
Sally,

Go have a quick check on whether you are ban from travelling

https://www.lawyerment.com/answers/questions/9829/quick-check-on-whether-you-have-been-made-bankrupt

Your default period is almost the same as mine, but mine is double your amount in $$$. If i am not made a bankrupt YET, why should you be?? AKPK is actually useful for certain group of people, but the main criteria is still you must be in gainful employment at time of application.

The fastest and easiest way of knowing your status is to get a "status" from CTOS. If it is not convenient, and you do not want them to "scan" your KP again, then do it the harder way by using my "Theory". But beware that I have been "Bomb-blasted" for using "sad woman" as a "guinea pig" and making use of people to so call "test" my theories and it is illegal advice!! If you feel that your info is private, you can email the info to me instead of putting it out in this public forum. Up to you...

1. Southern Bank, Eon bank. Your initial issuer is the their Finance branch or the bank itself. Yes, this minute detail is very important to me.

2. Can you roughly remember when you made your last payment to the respective bank and the amount at default time. Answer in  bank A, B, C, D. Need not state name of banks. And rough dates in month [plus minus]. Bill collectors can be reading thru this posting right now. Don't worry, they cant trace me. All the while since I started in this forum, my I.P. address has been "re-routed" and I am not worried people can sue me for sharing illegal advice. Dun worry, you are asking and may not be "applying".

By re-capping what you have written, you may have NOTbeen made bankrupt. There may have taken some actions, but not all the way to bankruptcy, not worth the while. Did you know that the tedious manner to make a person Bankrupted, not to mention all the costs involved? Not recoverable from bankrupted in almost all cases. The only thing they will do is to make your and my life miserable as written above. Mine was even worse, intimidated my wife(now deceased) and my school going children. I left all my permanent employments because of their actions.

If you have not been make a bankrupt, and you still have a bank savings account, maintain that account well. In 18 months, you can withdraw all in account from EPF. Will guide you on how to test the EPF cheque when the time comes. Anyway i HAD posted about these methods before 2 weeks ago. In 6.5yrs, you also can withdraw FULL from EPF. Just only be very careful in maintaining your current savings account now.

Regards,

Jeff

By the way, my forum sifu has replied, you can assured you are in good hands now... He can't exposed himself, I can take the risk, he got money, I no money, old man and no wife to protect lo.. hahahaaaaa... heheheeee...
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