Chance for bankrupts to air their views

KUALA LUMPUR: Over 243,000 Malaysians declared bankrupt have a chance to give their side of the story at a forum organised by Umno Youth.

The wing’s executive council member, Datuk Sohaimi Shahadan, said the forum, “Second Chance for Bankrupts”, would be held next Monday.

“Those bankrupt feel there is no way out. This forum will give them a chance to give their views.

“We want people to know that even though they are bankrupt, they still have rights,” he said.

He said a resolution would be drafted and presented to Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah.

He hoped it would be considered when amendments are made to the Bankruptcy Act 1967.

According to the Insolvency Department, there were 243,823 bankruptcy cases from 2005 to June last year, with 19,167 and 18,119 cases recorded in 2011 and 2010, respectively.

Among the main reasons for people being declared bankrupt were hire-purchase of vehicles (25%), other debts (21%), housing loans (13%) and personal loans (13%).

Representatives from Bank Negara, the Insolvency Department and several NGOs will also speak at the forum, which will be held at Dewan Tun Dr Ismail, PWTC, on Feb 18 at 8am.

To register, SMS 017-715-7171 or go to for more information.

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