Home / Malaysia Bankruptcy Law / Business & Consumer Bankruptcy Law How to discharged from banckruptcy Discharged

How to discharged from banckruptcy (modified 0 times) anirisau Hi, I was declared as banckuptcy on sept 2007. I'm not working since may 2003 until dec 2007. I start working back on January 2008 which is I don't know that I'm already banckrupty until May 2009 when I check the status at Bank negara. Since working, I'm keep some saving to pay off the debt. Dec 2009 I'm going to Jabatan Isolvensi at Putrajaya and the said my account in Pertama complex. Then I'm go there they ask me to make appointmnet first. I'm give up and keep quiet until todate. when the bankcruptcy proceeding and advertised in the sun on February 2003, maybank has freeze my saving account. The problem is I get a better job offer but the company pay salary through maybank. So I'm decide to pay off my debt with my sibling help, (I think is around RM35K) and how long the process to discharged from banckruptcy and maybank can release my account. Can I ask to lower the amount if pay lump sum?. One more thigs I have 2 others debt also at 2003. It is the creditors will chase me again after discharged from banckruptcy? Please help me. I really need to live as a normal person. 17 Jan, 2010 16:43:13

RE:How to discharged from banckruptcy (modified 0 times) firefly Can I ask to lower the amount if pay lump sum?. Yes. 50%-70% discount is normal but you must negotiate will all creditors not just one. Ask JIM to help you negotiate. It is the creditors will chase me again after discharged from banckruptcy No, b'cos all owing already settled with discount before discharge. Do not pay any creditor anything without black and white agreement from all creditors first. 18 Jan, 2010 12:53:40

RE:How to discharged from banckruptcy (modified 0 times) anirisau How long take to discharged. It is can be done within 1 month? Thanks 18 Jan, 2010 23:37:58

RE:How to discharged from banckruptcy (modified 0 times) Futurelawyer Could be more than a month. If you have one creditor it could be easy just go to the Bank and ask for discount try 50%. Good luck 21 Jan, 2010 22:32:36

RE:How to discharged from banckruptcy (modified 0 times) anirisau I have 2 other creditors which is all credit card debts (citibank & Standard Chartered). All debt is at the same time with this banckruptcy debt (amfinance). 1) Should I negotiate with them (citibank & standard chartered) also since my debt with them already more them 7 years? If yes, defenitely I can effort to pay this banckruptcy debt. 2) This citibank & standard chartered still can claim the debts eventhough 7 years? Please advise, I'm really want to out from the fear life. 21 Jan, 2010 23:37:55

RE:How to discharged from banckruptcy (modified 0 times) Futurelawyer You have to check with Insolvency how many creditors file proof of debt (POD), whether citi bank and Std chrd also filed the same. If they file POD you have to settle with them also. If not limitation act could apply to you. Good luck 21 Jan, 2010 23:46:21

RE:How to discharged from banckruptcy (modified 0 times) Eunice Lim Hi anirisau, during the bankruptcy, dont you report yourself to JIM? 23 Jan, 2010 02:02:55

RE:How to discharged from banckruptcy (modified 0 times) anirisau No until last week I go to JIM 23 Jan, 2010 18:38:02

RE:How to discharged from banckruptcy (modified 0 times) anirisau Hi Notelawyer, Today I'm going to JIM and ask OA about proof of debt (POD) of my others 2 credit card debt. OA told me that this 2 credit card not sent any POD included this Ambank credit card also not sent POD to them. It is limitation act also apply to this Ambank (who charged me as banckruptcy) since this jun 2010 already 6 years after court charged as banckruptcy? Please help me to solve this matter? Thanks 29 Jan, 2010 22:00:25

RE:How to discharged from banckruptcy (modified 0 times) notalawyer If other creditors did not file POD, then only negotiate with the creditor that did file, or the creditor that make you a bankrupt. Ask for 50% discount settlement letter. Take the letter and pass it to JIM. Good Luck. 30 Jan, 2010 07:28:35

RE:How to discharged from banckruptcy (modified 0 times) anirisau Thanks notalawyer. At least I can discharged with small amount. 30 Jan, 2010 10:04:23

RE:How to discharged from banckruptcy (modified 0 times) raji Hi There... Just an advise - I am declared a bankrupt and now the bank wants to seek a new date to auction my house. The case was heard in December and was postpone pending proposal to bank for re package my loan. Question is - 1) can I send proposal when I am declared a bankrupt 2) Is it worth it or should i pay on monthly instalment and say 2years later negotiate with bank for a discount to be settled in full? Will I be discharged or not Pls help 10 Feb, 2010 00:44:41

RE:How to discharged from banckruptcy (modified 0 times) Anirisau Hi Raji, why don't you try ask discount first wt bank before declare as bankrupt. 12 Feb, 2010 22:34:42

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