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bankcruptcy (modified 0 times) miee Dear All/ notalawyer i have a siatution here. i have stopped my credit card payment because i need to save some money if i go bankcrupt. The bank officer keep calling me and some times i ignoring their call and some times i just lie to them that i will pay. my question : 1) can i ignoring their call ?? 2) what will they do to me after i ignoring their call and my credit card payment. 3) what should i do next??? please any one can help me..very appreciates on ur guys help miee 18 Aug, 2010 13:31:43

RE:bankcruptcy (modified 0 times) Miee hi anyone out there.. can anyone answer my question please..very appreciates on the help.. thanks 19 Aug, 2010 12:32:30

RE:bankcruptcy (modified 0 times) ccss I think most of the ppl here dont want to get bankruptcy unless got no choice . If you choose want to get bankruptcy of cos you can dont do anything. But my advise is you must think throughly the troublesome , harrasment you will be facing in the future. More for mentally stress. If is small amount 30-40k , i dont think it worth to be bankruptcy. That my opinion . I rather choose some kind of debt repayment scheme. 19 Aug, 2010 14:57:20

RE:bankcruptcy (modified 0 times) Pening Hi, It's true, to become bankrupt not a good decision. I have gone through for past 6 years become bankrupt only for small amount. Try to nego wt bank for instalment. 21 Aug, 2010 06:51:54

RE:bankcruptcy (modified 0 times) miee i agree wit ur guys,,if we have choice,,we dun wan to go bankcrupt.. actually i owe bank for my credit card and personnal loan of > RM300k and my salary not enough to cover even the minimum amout tat y not choice and plan to go bankcrupt and get new start again... Pening, if i wan to negotiate with bank..how do i approch them???.. if after nego and they agree wit certain amount..but after sometimes..i default pymt again due to some reason..wat it will happen to me again??? that y i igoring the banker call because i dun know how to answer them keep calling me since i dun hv extra money to pay them.... min amount to paid all the banker is about RM10k per month... i looking for part time but very difficult to get one...lol anyone please give some advice..very appreciate for them to reply me concern question... regards miee 21 Aug, 2010 11:34:31

RE:bankcruptcy (modified 0 times) Drew @miee AKPK may be able to help negotiate your debt to a 10 yr repayment. http://www.akpk.org.my 21 Aug, 2010 19:13:29

RE:bankcruptcy (modified 0 times) 1818 1) can i ignoring their call ?? 2) what will they do to me after i ignoring their call and my credit card payment. If you ignore them like I did, after a few months, sometimes as early as 3, some banks will send you a letter of demand (LoD) from their lawyer, if you ignore that LoD, they will send you a summon after another a month or so, then you'll have to answer that summon in court, if you ignore that 1st summon, you will be bankrupted a lot sooner than if you fight it. Some banks will get a few debt collection agencies to call you many times - day & night -instead of taking legal action. Some banks just do nothing after the first LoD. I know, I owe more than 10 banks + more than double what you owe. 3) what should i do next??? If you can afford to pay around 5% of your total debt each month, talk to the bank/s, you will save yourself a lot of stress fighting them in court, no fun going to court, trust me, especially if you don't live in the same city as the court. Did I mention you waste a lot of time travelling to the courts and money to file legal papers? Hope the above helps. 21 Aug, 2010 20:18:04

RE:bankcruptcy (modified 0 times) Pening Hi, You can call the bank and come out with the letter of offer. Just state amount that you effort to pay. But you have to give the commitment in dealing this matter. The sample of letter can follow this below website: http://www.homeworking.com/library/debt/19.htm Otherwise you can register at AKPK like what Drew suggest. Hi all, FYI, I'm already get letter of offer for discharged wt RM15K out of RM26K debts. But I'm send them, letter to offer of full settlement of RM10K. Now waiting for thier reply and will call them on monday. Wish me luck. 22 Aug, 2010 07:47:34

RE:bankcruptcy (modified 0 times) Drew Hi Pening, That is good news..tahniah and congratulations. Soon, you will be discharged and have a normal life again...so happy for you. Good luck and keep us informed ok? Everyone appreciates your advice and experience 24 Aug, 2010 16:04:46

RE:bankcruptcy (modified 0 times) miee hi pening ,drew..anyone thanks for your guys advise... if i go to AKPK,,do they have a minima paymeny guide for us to pay to the banker?? where is the akpk branch? wat is the procedure of akpk? regards Miee 24 Aug, 2010 22:27:39

RE:bankcruptcy (modified 0 times) Miee hi notalawyer or anyone yesterday i receieved a letter from the banker (SCB) lawyer demanding the money due in arrear.( 2 months ) Question : 1) How do i reply this letter, or do i just ignore this letter ? 2) can i call the banker and said i can not aford to pay them anymore, please advice many thanks Miee 26 Aug, 2010 08:42:24

RE:bankcruptcy (modified 0 times) notalawyer How much is the lawyer letter demanding you pay? 26 Aug, 2010 10:33:55

RE:bankcruptcy (modified 0 times) Miee hi notalawyer in the letter they demand the month installment RM2,352.10. if not paid they can proceed to claim full payment on the loan thanks Miee 27 Aug, 2010 07:51:06

RE:bankcruptcy (modified 0 times) notalawyer How much is the full payment for the loan and what type of loan is it? 27 Aug, 2010 08:50:09

RE:bankcruptcy (modified 0 times) Miee hi notalawyer the full settlement of loan = RM38,268.12, is a personal loan 30 Aug, 2010 13:46:50

RE:bankcruptcy (modified 0 times) notalawyer Since you owe so many banks more than 300k, maybe you should just let them make you a bankrupt so you can start afresh. 31 Aug, 2010 18:33:58

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