Funny thing about life is that once you're a bankrupt, life becomes very difficult even if you've paid it all. Can't get a loan, can't get a job. It's like being a criminal. It's like bankruptcy is a crime

bOOn,

I got the settlement/release letter from Bank. Submit the copy of it to all banks that I apply (and that includes the local banks!) and all was turn down!

Ask for friend's assistance to check CCRIS, and confirm, that is the only record that is still on CCRIS. It shows full settlement has been made but the 'way' it it presented is showing me in a bad light.

Nevertheless, I am applying for the record myself. Have to see it with my own eyes.

As for 'David Copperfield', I heard from not one but few sources that this act can be perform. It has been done by people with connections, who faces lawsuit by banks and still wanted to make more loans from other banks.

As for your statement "However it's near impossible because of strong reconciliation and auditing in banks...", this is my comment; Malaysia Boleh ma!

sheahann,

I think you are refering to CTOS. I don't know about my CTOS report (don't want to know at this moment), but sooner or later if I find out they give a bad credit report on me, I will sue them upside down.

I've posted also on CTOS if you care to read. And I doubt that you would be able to sue CTOS as all the previous legal action against them fail apart. Also, they are giving out free checks and removal if proofs is provided. Eventually you need to check CTOS and BRIS too as they have kept your legal noticed published against you if any. So you would still have the possibility of banks rejecting you even after you clear your CCRIS matter.

Anyway, bring all your settlement letter to BNM and check your CCRIS as advised. They would advise you on what is the next course of actions. So if it's the fault of the bank for not updating the CCRIS report properly; than you have a strong case to take action against them.

And I wouldn't want to comment further on so called David Copperfield as it is unethical and unallowed in LYN.

i think u meant CTOS is kepoh not CCRIS coz CCRIS is from Bank Negara

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Added on December 10, 2008, 12:00 ami think nobody can check your CCRIS except for yourself. Your friend if he is an bank officer did the checking for you, I think he also violating the rules because you are not his customer and he may or may not the processing officer, how can he check for you. Walk in to Bank Negara and just pass your IC, they will give you a report and explain to you your status.

It doesnt mean you have a clear record now, bank till approve your loan. there's still many things to value.

1. Walk in to BNM to check your CCRIS
2. Walk in to CTOS to check your status

you will know your status. You may have legal record that is not erased even though you have settle it. who knows, check and correct it.

This post has been edited by eviljonz: Dec 10 2008, 12:02 AM

If he is very keen to know, should check CCRIS with BNM. Nothing much can be said.

BTW approval of your financing is not based solely on CCRIS merit but the most important is the ability to service all your obligation (present and future).

u said u send back your car to bank ? means kena tarik you the bank arrange it ? i wanna sell my car but market is lower than loan amount, please advise

You can't. That's why I say, make one mistake, and your life is over. CTOS does not create reports, they just list the facts, that you defaulted, and you have repaid. When I was in the CC dept of a bank, we used to routinely decline anyone who turned up in the database. Doesn't matter who or why or what, as long as you're there you got no loans. If you apply for a job, some will ask you whether you have ever defaulted, whether you have ever been a bankrupt. If you have they won't hire you.

It's the same with criminals. If you have a criminal record, you will not get hired. If you get arrested for petty theft or trespassing or whatever when you're young and don't know any better, your entire life is shot.

This post has been edited by wodenus: Jun 3 2010, 03:17 PM

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Added on August 13, 2010, 11:41 amBankers always think the bank is belonging to them..please differentiate between criminal and financial commitment. You can't compare between criminal record and integrity or attitude record of the person. Bankers always refer to CCRIS and CTOS as their main reference to access financial capability of their potential customers. For example, 5 years back the customer only hold an executive post with salary of RM2500, and now he is the manager with the salary of RM5000 but problem with Credit Card. Banks should consider the financial capability based on income and not the previous income. Seldom bank officers did this. They only refer to CTOS and CCRIS and work like 'ROBOT' with Standard Operating Procedures and documents. No judgment and discretion at all. Good example i would say, if the new car loan marked up till 100%, and the submission of documentation from dealers are fakes, the bankers always refer to document, document, document..even the documents are fakes! no physical checking to the car whether the model or variant is similiar with the car invoice! I would say, bankers need to do paradigm shift in providing loan to customers. The government of Malaysia has awarded a Bank license to give and offer financial services to customer. Without customer, Bank will never survive. Please bankers..you work for the bank and the shareholder..please help people who really need assistance from you. Don't punish them with the bad record and don't compare criminal record and financial capability, that is totally WRONG!


This post has been edited by mbr193: Aug 13 2010, 11:41 AM

hello i get blacklist from bank because of car loans, right now only have 4k to clear my debt with bank islam, when i check in BNN and print my CCRIS report i see no debt i have with any bank, my report is clean so can i apply loan now or have to wait for settlement letter after that can apply for loan, need advice from you guys.thanks

hmm but the bankruptcy status can be remove once all debt is settled rite? after attend court and so on...coz my uncle is in the process of attending courts...to clear his bankruptcy status.

http://creditbureau.bnm.gov.my/index.php?ch=8&pg=20&ac=82
read this q&a provided by BNM

hey men ...

Im not sure if some of the followings has been discussed or posted here ..

apart from having the reports on your CCRIS and CTOS .. you should have the full settlement letter from the bank that you've owe the money ..

last time im having problem with my credit card .. the moment ive full settle the debt .. im asking them to sent me the full settlement letter as a prove record for my potential bank in case i want to proceed for any loan..

so far i dont have problem for my loan even i have a very bad record in the past ...... all comes with a prove that i have settled everythings with my previous bank ...

hope this wud help u buddy

@akisendro

May I know how long "cooling period" for you to get new loan again ? Do your name appear in CTOS or only CCRIS ?
I have the same problem. Settled all the outstanding loan in Jan 2011 and received my settlement letterand update the status in CTOS. Now in the midst of applying new loan. Wondering whether can approve or not ? already attached the settlement letter with the new application.

what wodenus said is, once your record is there, even if you had clear all your debts and your debt status in CCRIS is "clear", you still have a record there mentioning your pass debt history.

similar to a criminal, for criminals, their "debt" is their jail serving time, once they clear up their "debt" which is their jail term, they were release from the jail (settle their debt - clear status in CCRIS), but still, they have a record as "used to be" a criminal. and it will be very hard for them to get a job.

now change the concept to bank black list/bankruptcy, (crime - cant pay back loan), (jail term -your debt that need to be clear) (jail - CCRIS) (job- bank loan) (criminal - YOU! the bad borrower)

and you get the idea.

This post has been edited by ah_suknat: Mar 15 2011, 09:11 AM

thats why we have ahlong who can help lo..

wa boleh tolong sama lu ma..

interested can call with low interest.

all legal. no kill and kick your ass.
haha.

for me find the good ah long better than bank. haha

welcome to the real life dude~~~

CRISS, CTOS or whatever, there's 3 of them last time. One was listed as illegal but still operating as our banks are very very 'kiasu' kind of banks. The moment they smell a risk factor, all loans are off! If you have another car instalments or your house instalments is outstanding, whatever loan you are applying now if off. In Malaysia, our financial credit is FOREVER. Once a theif always a theif, that's our banks policy. No such thing as turning over a new leaf or not. GOD forgives but our banks NEVER.

In 1997 during the financial crisis, my business was in trouble. My car was reposses twice and by the third time, I gave up the car. The car was kept 18 months before it was auctioned off. They auctioned if off for 23K when the outstanding loan was 45K. This is done without my knowledge. A year after the repossesion, I went to the finance company to negotiate for the car's release. I said to let me continue paying for the car and skip the duration of the time the car was in holding. What I meant was, I will pay the 4 months outstanding when it was reposses and all the interest accrued during the holding period. The manager was adamant that I pay all outstanding plus interest plus storage charges. So, I failed to renegotiate because the manager was not interested in helping out. 6 months later, I saw the car on the road again. I checked with the finance and found that it has been auctioned and I was left responsible with the balance!

Two years later, I was summoned to the magistrate and I admitted I owed them and willing to pay RM200 a month. Those days there were no AKPK to start with, it was after too many like me was turning out that they started AKPK. The lawyer was not even authorised to accept or decline my offer. The matter is left standing as it is. Then the amount balloned to almost 100K now. I was waiting for them to declare me a bankrupt but it never came. I have this agencies calling now and then threatening to seal my house and auction off everything in the house. Either that or try paying again. Not to a bank but to an office! I told them to go ahead. I am probably a bankrupt now, who cares anyway, I tried my best.

In the US, the statute of limitations is 5 years, meaning all records unsolved will be erased after 5 years and you are a new man, a second chance. In Australia, 7 years and I am sure in other countries, there's a limit. Malaysia forever.

So, you should be careful dealing with banks, they are shrewd and without mercy. Our banks are the most unprofessional banks compared to normal banking and it is all santioned by our Central Bank that do not stay neutral. They support the local banks more rather than holding them in line. Look at our insurance companies, they are the same. Look at also our private hospitals. Spend wisely and think hard before defaulting. Better still don't take the loan! My life is turned upside down for the past decade but going along well. People just need to adapt. You know, it's ironic that people who loaned millions are never taken to task but those who owes 20K or 30K are always left in the gutters.

This post has been edited by etigge: Mar 15 2011, 11:17 AM

Irony isn't it. That how Malaysia is.

There goes a saying in my office board: If you owe the bank RM 100, that is your problem. If you owe the bank RM 100 million, that is the bank's problem.

Same goes to Ting Pek King, owe the bank RM 60million and so what? Still going around like no man business even being sue bankrupt.

In Malaysia, banker will only lend money to those who don't need loans.
Those who really need loans will never get it...

hahaha what a nice way to sums it up