Dear Ahaha,
The minimum debt to be sue bankruptcy is RM30,000
in our Malaysian law with bank accounts frozen and
passport impounded.
The creditor banks can together have a joint sue to
total up at least RM30,000 to sue a person for bankruptcy.
Normally, banks do not join together to sue because
of the complication in claiming the debts.
Normally, debt to one(1) bank amounting to at least
RM30,000 - is taken legal action for bankruptcy.
Blacklisting is carried once a court order is obtained
against you even though your amount is less than RM30,000.
A person blackisted can still open a bank account but of
course not those banks a debtor owes. Those blacklisted
will find very hard to obtain loan/credit card.
