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Lost vehicle (modified 0 times) EVT454341 Profile | Email My car lost on July 2009. Since then, my installment to bank seems delay or not paid on time until they file me a bankruptcy notice. Since then, every court hearing I attend personally until mid-June 2011 I'm on maternity leave until end August. From the day onwards all court hearing and bank meet up discussion attend by my representative (brother in-law). During the last court hearing, my brother in-law did heard the judge mentioned to the lawyer that since my insurance payment had release as payment for the bank, the case had to withdraw out and ask me to discuss with bank about the balance settlement. End of July 2011 insurance companies settle a sum amount of RM170,000.00 to bank. After deduct I still owe bank RM74,000. Mid-August after I received letter from bank stating that they had received the payment and the balance which I still owing to them after deducting. I went bank to discuss my balance settlement, after some verbally agreement, which was initial payment of RM20,000 then balance installment, they ask me to wait for the new agreement then start pay. Sometime around Mid-September, I received letter from insolvency department. I headed to bank and ask for the explanation, they just said I had agree to paid the initial payment due date is over and the settlement amount bank can't discuss with third party so they had to take bankruptcy action against me, which is on 25th August they proceed my bankruptcy. I'm so shock to hear their explanation. Even the judge and their lawyer and before that some of the officer knew that I had my excuse why I can't attend personally. I head straight to insolvency department and explain my situation, one of the officer advise me to sincerely discuss again with the bank about my settlement since they had not received my file and willing to hold while I discuss with bank because they felt that it's not fair to me to enter into bankruptcy since I had paid more than half of the amount I owe to bank and hence I never get a notice and from bank or lawyer in that periods. I did not sign any agreement with bank stating that I breach the contract in which I agree to paid the balance settlement with them after they had prepare new agreement and when was the due date for me. Then I head back to bank and discuss with them about what the insolvency dept. had told me to do and they still don't want to listen to me unless I paid full settlement or enter into bankruptcy. I make complaint to bank "complaint unit" but all they could said was maybe my amount they send to the insolvency still the RM240,000 and they need to amend it to RM74,000.00 and still proceed my bankruptcy after that. This mess up drag me for about 1 more month and all they could said were "madam we're sorry your case was at the final stage now and nothing we can do so we have to file you bankruptcy". Why the judge and the insolvency officer still can give me chance to settle my balance and bank wouldn't do that and simply purposely drag my time to bankrupt me with their reason. 23 Oct, 2011 21:57:21

RE:Lost vehicle (modified 0 times) vkpc Why are you still trying to negotiate with the bank? Once you are a bankrupt, that bank cannot reverse your bankruptcy status even if they wanted to. To get yourself discharged, all your creditors (including credit card, car, home loan, etc) have to agree collectively to a form of settlement where you pay a large sum. You are already a bankrupt now, your bankruptcy status is not "suspended", get it into your head. 26 Oct, 2011 18:04:35

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