Thursday, December 25, 2014

2281) THE RAKYAT POST - 24/12/2014 - Muslim Consumers Body: We’ve Given Up Trying To Work With Insolvency Department

Muslim Consumers Association of Malaysia (PPIM) chairman Datuk Nadzim Johan says the Malaysian Insolvency Department makes life harder for people who are already on their knees after being declared bankrupt. 


KUALA LUMPUR, Dec 23, 2014:
The Malaysian Insolvency Department must play the role of a caretaker and not a debt collector, said the Muslim Consumers Association of Malaysia (PPIM).
Its chairman, Datuk Nadzim Johan, said the department had failed to carry out its responsibility in managing matters regarding bankruptcy among people.
“I urge the government to review the department’s management system as, honestly, we have given up trying to work with them.
“They are supposed to be people friendly, be their caretaker and not be merely a money collector.
“Hence, I feel that the best thing to do for now is to change the department into an Insolvency Commission so that it will be more dynamic and have an ISO quality standard,” he told a press conference today.
Nadzim said the department did not know how to manage itself and only knew how to collect money.
“I am saying this because I have gone through it myself and I know the difficulty in dealing with the department,” he said at a press conference today.
At the same time, Nadzim asked the authorities to review the Bankruptcy Act 1967 which was never amended to suit present conditions.
“As Malaysians, we don’t want to live with old laws that have caused so much trouble to those on the bankruptcy list.”
Present today was PPIM financial services monitoring bureau chief Sheikh Abdul Kareem Said Khadaied, who stated that the association had received around 200 complaints from bankrupts and almost 80% of them had not received any documents from the Insolvency Department.
He said that bankrupts were also charged 12% of the debt they owed as service charge even through they were already facing challenges.
“The bankrupts also face problems paying the debt as you can only make the payments in the state where you were declared bankrupt.
“This is excluding the trouble they go through, being unaware of their bankrupt status as they don’t receive any documents notifying them.
“They only find out about their bankrupt status when they are stopped from travelling overseas.”

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