I need all the experts and sifus in this forum to advise on my current problem.

I could have been blacklisted by CCRIS and CTOS by now .....could be due to the outstanding CC's debt balance incurred 5 years ago, approximately RM2K at that time.

I left M'sia to further study in overseas 5 years ago, and my family promised to clear the CC's debt for me after I left. But in fact, they didn't make any payment to the bank. Until recently, I moved back to Malaysia and applied for credit card and the application was rejected by bank. I wanted to contact the previous bank (the bank no longer exists) which I had CC's debt with and realized that it had been acquired by CIMB in 2006.

I'm planning to buy car and house in coming months in which I would definitely need to apply for loan from banks.

I want to pay off all the old debt now, but some people told me not to do so simply because old debt with lesser than RM30K value will get cleared off from the system every 6 years. Is it true???????

Or, what is the possible situation that I could be facing now? and what should I do now?

Please! I'm in dilemma now....

thanks!!!!
I'm going to BNM n CTOS 2 days later, to check out my credit record, and would can settle everything with CIMB ASAP..........

wish me good luck!!! (I need it)

dear all sifus, please comment.....

Lately, I hv an ex-colleague would like to apply for car loan but he had defaulted credit card years ago.......
He made full settlement to clear off this CC debt and applied for car loan 2 weeks later....and now he's clear of any debts, living without debt, no credit card, no car and house loan....
He's working for a bank now and applied for car loan under staff rate....

What is the chances his car loan application would be approved?