I did ask around before deciding to. And yes, i decided to pay for a peace of mind. Maybe i should have ask for a full waiver instead of a reduction. 😅

That's a lot

Glad it worked out for you

This post has been edited by GTA5: Apr 3 2025, 01:01 PM

But how does bank recover it's losses?

Is it possible that a person just Yolo and take up as much cc card debt as possible, then just gg, knowing that the debt will not be passed on?

Just wondering

The bank can go after and claim from his estate. If it's not enough, then have to write off.

TS is too honest as RM45k is nothing to these banks lol. For those wondering, yes, you have the right to ask the bank for the full waiver - worse thing they can do is request for the deceased’s estate to make a settlement but that would take some time.

This post has been edited by mataharih: Apr 3 2025, 01:20 PM

TS just became water fish by paying 9k to the bank when on paper he doesn't really need to. Don't know why you did that bro when all of us have given you sound advise and you still went ahead to pay for it.

What for u open thread asking?

This post has been edited by Avangelice: Apr 3 2025, 01:30 PM

Correct me if I’m wrong..this is absolute bs..CC is unsecured lending

This post has been edited by youngblood29us: Apr 3 2025, 02:05 PM

Those losses are immaterial..write off 30-40k against billions of profit has no impact..it’s not like daily people are dying with outstanding cc debts..

Also to add the amount of interest they gained from your outstanding debts..Net impact is still positive

This post has been edited by youngblood29us: Apr 3 2025, 01:58 PM

Probably related to his faith as muslem

The banks can go after the person's estate.

Technically you can YOLO and die with your debt not passed to your kins. But, that also means you wouldn't have any estates to be claimed upon, and if you don't have estates to do so, then the banks wouldn't have given you a card.

You have a misunderstanding about unsecured debt. While it's a debt without collateral, the creditor can still go after the deceased's estate.

Even if someone lent RM1k personally to the deceased, he too can go after the estate if he has proof.

This post has been edited by poweredbydiscuz: Apr 3 2025, 02:35 PM

If bank goes through estate and claim the house?

Plus she mentioned that she did it out of peace of mind
To some, it's more valuable.

Right. Pay corpo money that they don't even want or need whilst not have enough income for a rainy day.

What if estate is transferred to spouse much earlier? So I don’t think there’s basis to go after estate

In addition what I’m trying to say is banks cannot get back money from kids or wife..they are not obliged to pay

This post has been edited by youngblood29us: Apr 3 2025, 02:44 PM

The executor/administrator should not transfer the estate to the next-of-kin before settling the debts.

Of course we all know that the bank cannot go after the kids and wife. I'm talking about the deceased's estate.

which is why when apply CC they ask for IC so they can check your EPF account.

Also above certain age with no savings not easy to get CC with high limit.

The administrator is legally liable to pay off debts before distributing the deceased assets. Thus, the administrator can be legally by debtors if fail to settle the debts before distributing.

If no estate, then no need pay lo.

You are wrong.

sorry but what "estate" means ? property ?

Estate means harta.

So any assets tied to the person's name. House, bank acc, FD, etc etc