Wah bruh can believe  you or not?

People`s most private thing also you know?
spy colleagues´ borrowing how accurate lah that way...

You think you know you may not.
hint: you first or face palm guy first?

Try go take loan from bank. Collateral worth more also insist get valuation report!

You said banks only want to make money.
simply give loans without DDC can make money kah? Itu risk management kah? Rugi lo like that

If bankers found  your colleague  credit worthy but you think he is not, the problem is you. Not the bank

if banks found your colleague not credit worthy aka likely to default he would be rejected
i doubt bank would want him but you seem to say banks still be eager to earn his money,
later can make money from repo or sue him!

I am surprised you think bank can make money pursuing a defaulter and repo what he had left.
Can cover cost  also grateful already. Lose money also must  pursue to  deter others.

If  a loan defaults the banker has failed. What they can do later is damage control not making money.
No bankers like more NPLs.
Your argument loan must  not be given to those you think are financial idiots or illiterates  is untenable also.
First is you think,
2nd even if they are they still have the rights for a loan.
financial literacy is not a prerequisite to get a bank loan.
You are not buying investment product

when bank gave you loan  you got to be credit worthy then
when you get into trouble later you cant  turn around and say bank should  have known
you would be credit unworthy later on.

How do you expect the bank to know  or guarantee your business dont fail, recession dont come, you dont lose your job, you dont over spend?

Sue them. What is the amount? First step is always giving a letter of demand. Ask a lawyer to write them one. Oh.. and how long was the debt? If within 6 years you can still do. If longer really need to see the details de. If within 6 years you issue them a letter of demand from a lawyer. This one cheap cheap and chances are they may just pay up plus can be used as evidence that you initiated within 6 years before go court for none payment. Tell them amount, pay within how many days (reasonable) and what is it for bla bla bla. Get a lawyer to do it so it includes every detail. Then if ignored you can proceed to the court depending on the amount. Different amount goes different court. Gather evidence and sue them. Need to see sdn bhd or what also la. But every type can sue. Just how much you can recover only. If you have already done all these and if court order out and still no pay can sue for bankruptcy. This one they need to react and pay or else insolvency will come goreng thier stuff and make him vomit money.

That's the thing.. court order for? Bankruptcy? He is wrong and he needs to pay you? It's like telling me "i already took action so what's next?".. i need to know what's the action taken. 😂 What i did was telling you a to z with reference. If the court ordered him to pay. He did not pay. You LOD him. He ignored. Sue for bankruptcy lo if more than 50k. That's my assumption what has happened la but i need more details if not this. Coz court order can be anything right now.

What is amount we talking about? More than 50k bor? The rest what court to go that website tell you already. 50k is to know if we can sue bankruptcy. Then is it an entity we talking about such as sdn bhd or sole prop or individual person or what? Then what does the court order says. From there only know what action to take right?

sorry bro i dont know any debt collectors

i kena also
let go RM300k unable to collect,
that fellow said duit takda, nyawa satu. mahu mari ambik lah...

Issues like suddenly bank or epf call... say where money coming from?
also 100k can go through FPX?.

Already contributed more than last year. When i said i trust EPF, i really meant it.

At least in the coming 10-15 years i have faith that EPF will be all good.

if EPF is managed well... without any serious political interference (like force 10k withdrawals or die2 over 70% local exposure only)... then good luck in future....

don't bailout crony or buying up more MGS unnecessarily... more foreign exposure.... and bring the $$$

EPF set to answer Anwar’s call to boost domestic investment to 70%

EPF chief executive Datuk Seri Amir Hamzah Azizan said easing concerns over issues such as interest rate hikes will help in generating better returns during the quarter compared with Q1 2023 ended March 31, 2023.

“Prime Minister Datuk Seri Anwar Ibrahim suggested that EPF increase its domestic direct investment to 70%.

“So, this year, we will invest approximately 70% domestically and the balance will be invested abroad,” he told reporters after launching the 2022/2023 Belanjawanku guide and Belanjawanku mobile app here today.

https://www.thevibes.com/articles/business/...nvestment-to-70

Actually it's good idea...

I'm proposing around 10% of the total amounts...
Sufficient enough I guess 😜

male lifespan so short only ke ? 72
really need to YOLO

Funny thing is our country's T20 is freaking poor. Imagine after removing all the subsidies from petrol, electricity, healthcare, etc. The total expense will be the same as b40. Why not all the T20 don't work and enjoy the benefits as b40?

Hmmm... people who earn more get lesser return, and people who earn lesser get more return.
Isn't this whole 'Tier' thing is similar to Communisms?

bruh if  you  dont know you can try keep silent for once
no need simply hantam on everything

Worse came out with some incoherent reasoning insurance paying patients have higher bills
because hospital bought upfront insurance cover costs for them. when they come load it to their bills!
Ridiculous.

There is no such thing as  hospitals buying insurance to cover their costs at all.

Hospitals buy equipment with warranty, just pay a little extra get extended warranty.
No such thing as  buying insurance to cover its cost.

Hospitals  buy fire insurance for fire protection,

indemnity insurance cover for litigations.

So what  rubbish insurance to cover costs  are you  talking there?

Private hospital bills are high because  every damn thing you pay, the nice environment, the redundant staffs etc
sometimes things  you didnt use also pay full or even more, no subsidy. most things disposable no need wash  you pay lah.
Doing more tests just to be safe not missing out something etc.
complication arises  refer to every consultant do more tests  you pay lah.

.

https://www.utusan.com.my/berita/2023/07/kw...ntuk-pesara-pm/
*
Still got hope

Personally i agree with the government's position.  You see, majority in malaysia is dumb enough to plan their retirement . The moment , they get their hands on EPF money - they instantaneously spend it.

Example , if you have 2 mil in your epf - the right thing to do is to just withdraw the dividend and survive based on the dividend alone . With 2 mil in account, you can afford to live a decent live ~ RM 120,000 on average .

I knew an idiot ( My father ) who took out close to 1.8 mil and finished using them in 5 yrs and now became a professional beggar .
120k - give out to sister cos she is poor
loan to friend
renovated a properly functioning kitchen

At this moment i told him, if you want money from me , please itemize all your expenses before we can discuss about me supporting you financially .

will continue dump all fresh funds into epf...

40 yrs liao...variation of same story gov/epf gonna take all your money... lol...

anyways ...

It's an emotional thing. I would have been very angry if it happened to me.

While we are all not perfect, i think we can learn something from the original poster about parents not knowing how to do financial planning. Those who come to LYN finance, has the intention to improve their finances or already "OK". At least those who are learning can keep this in mind lo. Like someone say, abit like strike lottery syndrome

I view it as, let's not end up like that person, get 1.8mil, and didnt do proper planning.

Being an adult is about being responsible for your actions.

i read somewhere sometime ago... dunno which country, economy gg, they froze dunno what retirement fund for a while... now allow back normal withdrawals... so the risk is real... as long as got outside buffer then ok

msia dun think that bad yet... but our economy really not that healthy... stock market down, lots of empty shops, factories, offices... while shadow/underground economy is thriving but these ppl lari tax dun contribute to the country...

last time got a lot of hope... nowadays not much... maybe old liao look at life jaded... lol... anyways am not blind to the fact lah... plan accordingly...

Not to disappoint you...

Wrong place to ask...

Because many here have more than 10k in EPF...

Try asking at Cari or others Malay based socmed pages??? (Not to be racist but it's facts many have less 10k & still asking for withdrawals) 🙏

Clearly EPF isn't working for most people. people <0.01m want money out. people>1m do the opposite. I'm sure given time EPF or other entities will need to come up with social security schemes.