Wow didn't know this.
So I could just rake up $300k in credit card debts and ignore the pleas of banks for 6 years? Then become no need pay? Just curious.
Akta Had Masa, Not servicing credit service 6years++
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 Nov 12 2023, 02:28 PM
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#1
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All Stars
14,899 posts Joined: Apr 2005 From: Kuala Lumpur & Selangor  
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Nov 15 2023, 11:33 PM
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#2
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All Stars
14,899 posts Joined: Apr 2005 From: Kuala Lumpur & Selangor
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QUOTE(accordvtec @ Nov 15 2023, 10:46 PM) what make you think the bank wont sue u bankruptcy during that 6 years? What if the amount is below 100k threshold? Maybe after include compounding interest after 6 years still below 100k? |
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Nov 16 2023, 01:19 PM
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#3
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All Stars
14,899 posts Joined: Apr 2005 From: Kuala Lumpur & Selangor
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So after doing some research, not as easy as it seem. Your debt might be below RM 100k threshold, but your credit report is gone for good. You might have escaped the debt, but the CTOS record will be there for life. Even if you settle the debt in the future, it will remain there.
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