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Pensioner Charged Bankrupt (modified 0 times) Pencen Dear Notalawyer, I'm a pensioner and have a few credit card debt amounting RM37K. Recently the bank have send a letter for claims debt. My question is If I was declare as bankrupt, it is my monthly pension will terminate? I'm really depend on my monthly pension as now I was 65 years old and nothing much can do to earn some money. Please help me 31 Jan, 2010 09:40:31

RE:Pensioner Charged Bankrupt (modified 0 times) notalawyer Is it a Letter of Demand from a law firm? How much is the claim and which bank is it? I think your pension will not be affected, after all EPF is also not affected by bankruptcy. 31 Jan, 2010 12:32:34

RE:Pensioner Charged Bankrupt (modified 0 times) Pencen Hi Notalawyer, Yes it is letter of demand from Hong leong finance amounting RM20k. I have go to bank negara to check my status and another credit card (ambank) is about RM17K but haven't received anything yet from them. I was think to consider AKPK to pay all debts but they have calculate the monthly amount is RM480. My pension only RM1,100 a month and it's not possible to me to pay RM480. I'm just worried if declare as bankrupt, my pension also terminate. Please help me what supposed to do. 31 Jan, 2010 12:42:37

RE:Pensioner Charged Bankrupt (modified 0 times) notalawyer Which law firm is it? Unless you have a lot of assets, you would be stupid to pay the debts using your pension. But if you have a lot assets like house and car, you can sell those assets to pay for the debts. Your pension is for your old age, not for paying debts. Stop worrying about them taking your pension. 31 Jan, 2010 13:11:24

RE:Pensioner Charged Bankrupt (modified 0 times) Pencen I was told there is a clause in the government pension that if you are declared bankrupt, you will automatically loss your pension. It that true? 31 Jan, 2010 18:58:15

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