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.

If that is true, why not engage the same 'ah long' to collect his debt?

that is what i heard from my mom, i am not sure what my uncle is doing, i think the client not paying due to it is not complete yet but more of a tollgate payment. But anyhow that's my assumption.
my uncle made a report to the police, but police can't do anything due to "reasons" as always.

i am not sure how this is going to end, he and his family will not be back for cny.

Police wont entertain any civil case.
Either they will divert them to tribunal or other place.
Mostly they would ask you settle sendiri.

yea, from what i heard, that's the problem even when Ah long is involved, and my uncle's wife and children, immediate families are affected by the ah long

This post has been edited by gundamsp01: Dec 21 2019, 12:14 AM

My ex landlord chase by arlong also affect me.
Cause i hang the board cari housemate room to sublet. They called and asked if im the owner. So i divert the number to them. They stop called me afterward. Before that they called me few time.

Hire the same debt collector to collect debt from the business that owe your uncle.

There is no solution if he cannot afford to pay.

Dont come home anymore. Hopefully the ah long wont be able to locate him.

now his wife has to bear the debt as she signed the agreement as the guarantor. Sigh

It doesnt matter anymore as this is a family problem.

If the counter party willing to hire loan shark to collect the defaults it really means your uncle really kaki busuk fella, he shouldn't avoid not paying at the first place and when this happened he really asked for it.

In business when there is debt default it's pretty normal , instead of negotiating how to make payment with the counter party or work a way to pay off like sell assets ,but then again it's too late at this stage, mind you the fee hiring loan shark bear by your uncle , the debt will be more than the initial amount owed

The best solution is quickly pay off the debts by all means, start selling assets or take loan from banks if can't pay worse to worse bankrupt akpk which is better than ah long

You don't understand the chain effect of payments in business. Your debtor cannot pay you so you cannot pay your creditor. It happens all the time but few businesses resort to using loan sharks to collect. He did not ask for it and the one using loan sharks to collect a business debt is the real kaki busuk. There are unwritten ethics in doing business. In such a situation everybody has to be patient. When one party runs out of patience the worse he should do is take legal action, not use loan sharks.

The business debt may exceed one's personal assets and declaring bankruptcy is pointless when loan sharks are involved.

His wife may be a director in his company so both of them were asked to sign personal guarantees for the payment. The creditor should have used legal channels to collect a business debt instead of using loan sharks and turning their lives upside down. The creditor company must be run by ex-samsengs.

well, in construction field, i wouldn't say the people who do well in this line are elegant and law abiding citizen

too many hanky panky stuff, but what has happened has happened. Now not sure how he will settle this, as from what i know, he is hiding somewhere, while his wife has brought the children and went somewhere else. Sigh, pity the children

Hiding will not solve the problem. The children may need to go attend school soon. Only his creditor can call the loan sharks off so he should contact them and work out a payment plan. If he has a property ask for time to sell it off. If not ask for time for his company to make money back to pay by instalment. When his creditor sees that he has really no money to pay immediately it is pointless for them to drive him to suicide. He should also keep pressing the company owning him money to pay.

actually the moment you run away from your debt thats when ahlong resorts to dirty tactic. Your uncle should hv confronted the supplier and ask for more time. He needs to be brave in this situation. Running away will not fixed this. Same as bank, if they call u and u not picking up then after few times they will hired debt collector. Your uncle should bring the debtor to his client's office and show them they are not paying him.

The counter party is also a loan shark? Then not much u can do if you took their debt agreement. Lipot polis wont really stop them from ruining your life/company, but maybe it might help, but it all depends - if the creditor is legit - then file bankruptcy and liquidate company OR restructure repayment.

I've no idea about haroom lenders, but chances are any form of agreement goes out the window the moment you approach them.

ur uncle business plan is weird. ur uncle complete the project without receiving initial payment and another payment by phase of how many % the project has completed?

my father in construction also, when payment is not smooth the project will stop because payment is collected based on the % of completion.