my uncle's company got into deep trouble due to debt issue, and the counter-party hire a gang of loan sharks to collect the payment, they paste posters everywhere, trace my aunt (my uncle's sis) address and phone number etc.

i don't want the loan sharks come bother my family sooner or later. May i know if there anyway to protect ourselves and my uncle's family?

settle the debt

if my uncle has the money, there wouldn't be loan shark hired by the counter-party in the first place :x

If your uncle dont work out any form of settlement with the creditors, the issue wont be solved easily. As long there is no physical 'attack' on property or life, is more on civil matters.

No choice, sell assets to settle debt. Life > asset

Get ready visit michael Chong

If threats are issued, file a police report

will suggest this option to him

noted on this, will advise him to do so

This. Maybe ask help from every relatives try to help him settle the debt first before going to michael chong or whatever authorities?

sadly, his business is construction type which no commoners like me or my relatives can handle that sort of amount (hundreds thousand above)

If this is the case then can only seek help from Michael Chong or PPIM. But that doesnt mean he is free from ah long tho.... they are more on helping your uncle to negotiate a better repayment term.

noted, thank you for your advice

This is a commercial debt, I don't think Ah Long will come after anybody else other than your uncle and his wife. It's not even the Ah Long's debt as they were engaged as collectors.

But having said this if the Ah Long threatens your family make a police report. Never make any payment to them or they may think they found a soft spot and keep coming back for more.

unfortunately, the ah long managed to find my aunt's address (this was my uncle's old address). Luckily there was nothing happened yet.
My uncle made police report, but as always, police just say can't do anything because not sure who is doing it

and noted on the second line, will do so, if ah long comes to me

This post has been edited by gundamsp01: Dec 20 2019, 04:44 PM

Sell asset to repay loans

how much the debt now?
do you know the original amount your uncle borrowed?

Call PPIM (they help all Malaysians) at 013-3071-999
or MCA's Michael Chong to settle the ah long.

not sure what is he going to do now, he went to hiding while his wife and children went some place else. Sad case

this is more of a chain reaction, the client unable to pay my uncle, which made my uncle unable to pay the raw material vendor, the amount can reach close to million.
And now the vendor hired some ah long to collect the debt

will let him know

This post has been edited by gundamsp01: Dec 20 2019, 05:47 PM

Recover debt from client to repay raw material vendor?

Hiding will not solve anything, raw material vendor also have bills to pay.

well, i hope it is that simple, but client not paying.