04 June 2014

3,314 People Registered With Bankruptcy Free Secretariat

  04 June 2014
A total of 3,314 people have registered with the Bankruptcy Free Secretariat to seek help to free themselves from the shackles of bankruptcy since the secretariat was set up in October 2013, said its chairman Datuk Sohaimi Shahadan.

He said the secretariat had also referred 80 cases to various agencies including the Department of Insolvency Malaysia, banking and financial agencies.

"Out of these, 22 cases were resolved, while the rest are still being studied.

"It is not easy for us to be precise and help resolve bankruptcy cases, each case is different and requires extensive research," he told Bernama here, Wednesday.

Based on records from the Department of Insolvency 122,169 Malaysians were declared bankrupt for the period between 2007 and last year.

Sohaimi said most cases registered with the secretariat were due to problems related to loans such as for housing, vehicles and businesses, cases of victimisation, due to technical problems and also those who became guarantors for a loan.

In the meantime, he added, the secretariat would continue to go down on the ground to provide information and collect data of bankrupts nationwide.

So far the secretariat had held the first road show, stretching over four months starting from January, in Melaka, Kedah, Penang, Kelantan and Johor and was now planning to proceed to Pahang, Terengganu and Sabah, he said.

-- BERNAMA

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